REIT share prices fell last week, giving back some of the gains from the prior two weeks. The FTSE Nareit All Equity REITs index posted a total return of -1.1% for the week ended Nov. 20, following weekly increases of 4.3% and 6.9% earlier in the month.
Performance was mixed across property sectors. There were declines among those sectors that have had gains for the year, with self storage REITs down 4.3%, industrial down 3.6%, infrastructure down 3.0%, and data centers down 2.8%. Each of these sectors still has significant increases year-to-date, however, even after last week’s reversals.
Conversely, the sectors with declines since the start if the pandemic rallied last week. Lodging/resorts had a total return of 6.1%, followed by a 4.4% return for office and 2.8% return for retail. Mortgage REITs rose as well, with home financing mREITs delivering 4.7% and commercial financing mREITs posting a 4.0% total return.