Rob Main, managing partner at the shareholder advisory firm Jasper Street, joined the latest episode of Nareit’s REIT Report podcast. He discussed sustainability reporting and practical steps REITs can take to navigate the proxy season.

Main described the corporate mood heading into proxy season as “anxious.” For many companies, however, as long as they've been engaging with their investors, have good disclosure, and aren't viewed as outliers by institutional investors, “they're probably going to have a good proxy season,” he said.

Investors, meanwhile, are “cautious,” he said, and are likely to be more “tight-lipped” given recent SEC guidance. At the same time, their core belief about the importance of strong governance practices remains intact.