Market Commentary

U.S. REITs raised $22.5 billion from secondary debt and equity offerings in the second quarter of 2025.

Discover how REITs are navigating interest rates, trade tariffs, and market volatility with strong balance sheets and growth-focused strategies.

The FTSE EPRA Nareit Developed Extended Index rose 1.2% in June.

Global listed real estate has slightly outperformed global equities year-to-date.

With the commercial real estate (CRE) market characterized by softening fundamentals, a lingering public-private real estate valuation problem, and higher interest rates, property transaction activities have remained stifled.

REIT balance sheet strength, driven by low leverage and fixed-rate debt, offers resilience and flexibility amid market volatility and rising rates.

Despite elevated economic uncertainty and financial market volatility, REIT operational performance has maintained resilience.

Actively managed generalist funds tend to be underweight in real estate and REITs.

The FTSE Nareit All Equity REITs Index rose 1.2% in May. REITs trailed the broader stock market for the month as the near-term risk of tariff disputes abated, perhaps temporarily.

Nareit’s annual update of the Global REIT Approach to Real Estate Investing study shows growth in REITs worldwide, with more than 1,000 traded REITs at the end of 2024 in 42 countries and regions.

Recent disputes over tariffs and trade policy introduced volatility to global real estate markets alongside broader stock markets.