REITs Rebounded Last Week

REITs rebounded last week with a 5.2% total return, according to the FTSE Nareit All Equity REITs index, ending a string of declines over the three prior weeks.

Last week’s gains brought the total return year-to-date to -11.6% as of July 2nd. REITs have recovered more than three-quarters of the 42% decline from the pre-crisis peak in late February to the trough in late March.

All property sectors of equity REITs rose last week. Self storage led the way with a 6.5% total return, but the infrastructure, industrial, residential and retail sectors were not far behind. Last week’s gains brought total returns of industrial REITs into positive territory for the year-to-date, and pushed this year’s total returns for data centers to 23%. Infrastructure REITs have delivered total returns of 18.9% so far this year. Mortgage REITs, however, declined last week, with both home financing and commercial mREITs posting a negative total return of about one-half percent.

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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.