John Barwick

The FTSE EPRA Nareit Developed Extended Index gained 2.8% in July, bringing its 2026 return to 11.9%, while the FTSE EPRA Nareit Developed Index returned 2.7% for the month and has gained 13.2% year-to-date.

The FTSE Nareit All Equity REITs Index rose 2.4% in July, extending its year-to-date total return to 17.7%.

Financial markets have remained volatile as investors react to periods of relative peace in the Middle East, followed by episodes of outright conflict, as a permanent solution to the crisis remains elusive.

REITs raised approximately $20 billion in the second quarter through secondary debt, equity, and initial public offerings.

REITs delivered strong investment performance through mid-year 2026, outperforming the broad equity market by a sizable margin. This performance reversed their 2025 trend and showed that REITs can do well in an elevated and rising interest rate environment.

The FTSE EPRA Nareit Developed Extended Index was flat in June, while gaining 8.9% in 2026, as the FTSE EPRA Nareit Developed Index returned 1.0% for the month and has gained 10.2% year-to-date.

The FTSE Nareit All Equity REITs Index rose 1.5% in June, extending its year-to-date total return to 14.9%.

In 2025, U.S. listed REITs distributed approximately $71 billion in dividends, as reflected in Nareit’s REIT Industry Tracker.

The FTSE EPRA Nareit Developed Extended Index posted a total return of 9.3% year-to-date through June 10, while the FTSE EPRA Nareit Developed Index returned 9.4% over the same period.

The FTSE Nareit All Equity REITs Index remained essentially unchanged in May, posting a narrow total return of 0.1%. Despite the flat monthly performance, REITs continue to lead on a year-to-date basis.

The landscape of U.S. REIT M&A over the last six years has been defined by a significant volume of high-value consolidation.