The FTSE Nareit All Equity REITs index posted a total return of 5.5% last week, the strongest weekly gains since November 13, 2020. Broader equity markets also rose, with a 2.9% return on the Russell 1000.
All property sectors rose last week, with returns ranging from 2.2% for the specialty REIT sector to 7.6% for lodging REITs. Sectors that had been most directly impacted by social distancing during the early stages of the pandemic continue to lead the market in 2021, with a 21.9% total return year-to-date in the retail sector and 23.0% year-to-date for lodging/resorts.
mREITs also rose last week, with a 5.3% return for home financing mREITs and a 6.8% return for the commercial financing subsector. Both mREIT subsectors have double-digit returns year-to-date through March 12.