Most REIT Sectors Edged Higher Last Week

Most REIT sectors edged higher last week, with nine of 14 REIT sectors posting a positive total return. Some of the largest gains were among industries that had experienced bigger declines as the covid-19 crisis unfolded, including retail (total return of 14.6% last week), commercial financing mortgage REITs (11.8%), diversified (8.2%) and lodging/resorts (7.9%).

Many of the sectors that had experienced more moderate declines or even were in positive territory through late April, in contrast, drifted lower last week. These declines, however, were not large, at least relative to recent market moves during the covid-19 crisis: Infrastructure (-4.2%), data centers (-2.4%), industrial (-1.9%) and self storage (-1.8%). Data centers and infrastructure are still in positive territory year-to-date even after these declines, and the industrial sector remains ahead of the Russell 1000 in terms of total return so far this year.

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The Market Commentary blog on presents analysis of the macro- and micro-economic fundamentals impacting the REIT and commercial real estate industry. The Nareit economics team offers their commentary on the state of the market, the outlook for commercial real estate and breaking macroeconomic news. The opinions set forth here are solely those of its author(s), and do not necessarily reflect the views of the Nareit or its membership. For more, see our Terms of Use.