REIT share prices declined again last week, with a negative 1.2% total return on the FTSE Nareit All Equity REITs Index. Residential REITs edged up 0.1%, but all other property sectors were in the red, with the largest declines among timber (-3.6%), retail (-2.9%), and diversified REITs (-2.8%). mREITs were also down last week, with a negative 1.3% return for home financing mREITs and negative 1.4% return for commercial financing mREITs.
Returns year-to-date remain in positive territory, however, following the six-week string of increases from mid-March through end of April. In fact, nine of the 12 property sectors have double-digit positive returns so far this year, led by the 27.3% gain by retail REITs.