REITs edged lower last week with a -1.2% total return on the FTSE Nareit All Equity REITs Index, bringing the year-to-date return down a bit to 2.6%. Broader equity markets declined as well, with a -2.7% return on the Russell 1000 for the week that brought year-to-date returns to 2.1%.
Performance was evenly mixed across property sectors. Six property sectors rose, led by diversified REITs (4.6%), office (3.6%), and specialty (2.5%); six property sectors fell, including infrastructure (-4.8%), industrial (-4.6%), and timber (-3.7%). Home financing mREITs had a 0.4% return and commercial financing mREITs gained 0.2%.