John Barwick

Global listed real estate has slightly outperformed global equities year-to-date.

The FTSE Nareit All Equity REITs Index rose 1.2% in May. REITs trailed the broader stock market for the month as the near-term risk of tariff disputes abated, perhaps temporarily.

Recent disputes over tariffs and trade policy introduced volatility to global real estate markets alongside broader stock markets.

The FTSE EPRA Nareit Developed Extended Index showed resilience in a tumultuous April, posting a total return of 1.3%. On a year-to-date basis, the index has returned 4.4%.

The FTSE Nareit All Equity REITs Index declined in a volatile April, bouncing back from a low of -11.9% on April 8 to end the month down 2.0%.

In 2024, U.S. listed REITs distributed approximately $66 billion in dividends, as reflected in Nareit’s REIT Industry Tracker.

The FTSE EPRA Nareit Developed Extended Index declined 1.4% in March and has risen 3.1% on a year-to-date basis as of March 31.

U.S. REITs raised $12.2 billion from secondary debt and equity offerings in the first quarter of 2025.

The FTSE Nareit All Equity REITs Index declined 2.4% in March as broader market equities suffered greater losses, with the Russell 1000 declining 5.8% and the Dow Jones U.S. Total Stock Market falling 5.9%.

The FTSE EPRA Nareit Developed Extended Index rose 2.8% in February and was up 4.6% on a year-to-date basis at month-end.