The public Real Estate Investment Trust (REIT) sector is rapidly evolving and has recently crossed the trillion-dollar threshold in total capitalization. In addition, there are many new REITs in registration under the Jobs Act, and public REITs actually had record industry index investment returns in 2014. However, there are still strides to be made, specifically when it comes to how REITs determine their property management structure.

According to a new study, many REITs can achieve cost savings by outsourcing property-level services. The study, undertaken by David Fick, professional faculty member at the Johns Hopkins University Carey Business School, and commissioned by CBRE, found that a REIT with less than 10 million square feet in a given market can realize significant efficiencies with professional, third-party property management. Below are some key findings and what they mean for Wall Street investors.

At one time, REITs may have been right to keep the enterpr