REITs rose 3.7% last week, according to the total return on the FTSE Nareit All Equity REITs Index. This is the largest weekly gain since the week ended March 12, 2021. Last week’s increase brought the year-to-date return to 32.0%. Broader equity markets edged higher with a 0.6% return on the Russell 1000, which is up 21.2% so far this year.
REIT gains were broad based, with all property sectors but one moving higher. Data centers led the increases with a 6.3% return. Other sectors with large increases include industrial REITs (5.2% return), infrastructure REITs (4.9% return), self storage REITs (4.6% return), specialty REITs (4.1% return), and residential REITs (4.1% return). Lodging REITs decreased 1.2%.
Mortgage REITs were mixed last week, with home financing mREITs down 0.5%, but commercial financing mREITs 0.1% higher.