REIT stocks continued their steady recovery with the fifth straight weekly gain in the FTSE Nareit All Equity REITs Index. The index posted a 1.9% total return in the week ended April 23, bringing the year-to-date return to 15.6%.
Nearly all property sectors rose last week. The two exceptions were timber, with a -2.8% return, and lodging/resorts, which edged down 0.1%. In the plus column, self storage rose 3.7%, for a 23.3% return so far this year, followed by several other sectors—infrastructure, residential, specialty, and retail—with total returns greater than 2%.
mREITs were also up last week, with a 0.3% total return for home financing and a 1.1% total return for commercial financing mREITs.