REIT in rising interest / tapering QE3 environment

I own a currently publicly traded REIT which was originally a private, non-traded REIT that went public in 2013. I am concerned how the REIT may be affected by the upcoming interest rate increases and the tapering of QE3 by the FEDS. I would greatly appreciate your thoughts and expertise on this. Thank you.
(PS. Thank you very much for alerting me on MyRA. I heard it from you and only from you on this subject.)

Terry Says:  Thanks for your note.  For those interested in my thoughts on the proposed MyRA accounts, check the home page at TerrySavage.com under “news” and click to read the entire commentary.

As for REITS, there are two ways to look at them (and, of course, specific REITS may perform differently depending on the kind of real estate they own).  The first thought is that they would be negatively affected by higher interest rates caused by Fed tapering.  A general increase in interest rates would make REITS less attractive, because they are basically an investment that is attractive because of their comparatively high yields.  So rising rates, in general, are a sort of negative.  But if rates are rising because of fears of inflation, then REITS that own property which rises in value to offset inflation could be even more attractive.  And if rates are rising because the Fed is correct that the economy is improving, then many REITS — think hotel, resort properties, commercial warehouses — could become more attractive because they could charge higher rents in a growing economy.

So there is no black or white answer to the impact of Fed actions on REITS in general, or even in specific.  If the Fed is right that tapering is a good idea because the economy is growing well on its own, then REITS could still provide some upside, along with a nice stream of income (some of which, by the way, may be a “return of capital”, so check on that, as well.)