REITs rose last week with a 2.5% total return on the FTSE Nareit All Equity REITs Index, the fourth consecutive weekly gain. REITs outperformed the 0.6% return on the Russell 1000, and indeed have outperformed the broader equity markets for the past five weeks. The All Equity REITs Index has delivered a total return of 8.3% since May 7, compared to 2.2% for the Russell 1000 and 1.9% for the S&P 500.
Data centers rose nearly 5% last week, following a 4.6% return the prior week. Other sectors with strong positive returns include lodging/resorts (3.8%), health care (3.5%), specialty (3.4%), and office (also 3.4%). The only property sector to decline was timber, with a return of -1.8%.
mREITs also extended their streak of weekly gains with a 0.7% return for home financing mREITs, and 4.9% for commercial financing mREITs.