REITs posted significant gains last week, with a total return of 2.5% on the FTSE Nareit All Equity REITs Index. Last week’s increase brought year-to-date performance to 25.4%. Broader markets were only slightly positive, with a 0.4% return on both the S&P 500 and the Russell 1000.
Several property sectors enjoyed outsized gains, including residential (4.7% total return last week, including 5.2% in the single family home subsector), timber (4.1% total return), industrial (3.4% total return), and self storage (3.4% total return). Lodging/resorts was the only sector to decline, with a total return of negative 1.8%.
mREITs were mixed, with home financing mREITs marginally lower and commercial financing mREITs up 0.4%.