REITs Declined Last Week

REIT share prices fell last week, with the FTSE Nareit All Equity REITs index yielding a total return of -2.7%. Last week’s decline breaks a string of gains the to prior weeks, but REITs are still up 2.1% month-to-date.

There were declines nearly across the board, although self storage REITs eked out a positive 0.1% total return. Lodging/resorts, office, retail, and residential recorded the largest declines, of 6.5%, 4.7%, 4.7%, and 4.6%, respectively.

Total returns year-to-date are -10.4%. There is considerable variation across the sectors, however, with four sectors—self storage, industrial, infrastructure, and data centers— with double-digit gains, with total returns ranging from 11.9% to 35.3% 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.