REITs edged narrowly lower for the week ended Sept. 17th with a total return of -0.1% on the FTSE Nareit All Equity REITs Index, but outpaced other equities. Broader equity indexes declined, including -0.4% total return on the Russell 1000 and -0.5% on the S&P 500. On a year-to-date basis, REIT returns continue to show strength in 2021, with year-to-date returns of 26.6% on the All Equity REITs Index.
REIT sector performance was mixed. Sectors posting positive returns for the week were led by lodging/resorts, timber, and data centers, with total returns of 4.3%, 3.9%, and 2.5%, respectively. Self storage (-3.0%), industrial (-1.8%), and residential (-1.3%) showed the largest declines. Year-to-date in 2021 all property sectors have posted positive double-digit returns, led by 47.1% for self storage REITs.
Mortgage REITs rebounded last week, with a total return of 1.5% for commercial financing mREITs and 1.3% for home financing mREITs. Year-to-date returns are 22.4% and 14.5%, respectively.