REITs retreated last week, with a total return of -4.1% on the FTSE Nareit All Equity REITs Index. Broader markets declined as well, including -1.8% total return on the Russell 1000 and -1.7% on the S&P 500. REITs remain well into positive territory for 2021, however, with year-to-date returns of 26.6% on the All Equity REITs Index.
The declines last week were across the board, with every property sector in negative territory. Returns ranged from -1.6% for health care REITs to -6.1% for specialty REITs. All property sectors are in positive territory for 2021, with 10 of the 12 sectors showing double-digit returns, led by 51.7% for self storage REITs.
Mortgage REITs were down last week, with a total return of -1.6% for home financing mREITs and -4.8% for commercial financing mREITs. Year-to-date returns are 13.1% and 20.6%, respectively.