Market Commentary

U.S. REITs raised $13.6 billion from secondary debt and equity offerings in the second quarter of 2022, down from $27.5 billion raised during the same period in 2021.

REITs outperformed broader markets by nearly 1.3% in June, as the Federal Reserve hiked interest rates by 75 basis points and signaled a more aggressive approach to fighting inflation in the coming months.

According to data from Google on all workers and Kastle on office workers, workers in gateway cities are more likely to work from home.

Evidence is emerging that hybrid or remote work is becoming a permanent feature for many office workers.

The FTSE EPRA/Nareit Global Real Estate Index Series underperformed broader markets in May as turbulent trading conditions persisted.

Charting the change in REIT earnings, represented as funds from operations over the course of the pandemic.

REITs underperformed broader markets for the month of May but outperformed on a year-to-date basis as equity markets continued to be buffeted by heightened volatility.

REIT earnings, as measured by funds from operations, increased 30.9% from the previous year to a record high of over $18 billion in the first quarter of 2022, according to the Nareit T-Tracker®.

Commercial real estate fundamentals continue to point to strong performance in the retail, multifamily, and industrial sectors.

The Bureau of Labor Statistics released the April 2022 Consumer Price Index data showing a much smaller monthly increase in prices in April than in March.

The FTSE EPRA/Nareit Global Real Estate Index Series outperformed broader markets in April.

March marked 23 straight months with hires greater than separations and the March JOLTs report showed private job openings are in excess of 10.5 million, the highest level ever recorded.