John Barwick

U.S. REITs raised $17.6 billion from secondary debt and equity offerings in the first quarter of 2024.

The FTSE EPRA Nareit Developed Extended Index rose 3.2% in March, narrowly outperforming global equities as the FTSE Global All Cap rose 3.1%.

The FTSE Nareit All Equity REITs Index rose 1.8% in March. Broader equity markets continued to outperform, as the Russell 1000 and Dow Jones U.S. Total Stock Market each rose 3.2%.

The FTSE Nareit All Equity REITs Index rebounded from a weak January, rising 1.9% in February. REITs underperformed broader markets as the Russell 1000 and Dow Jones U.S. Total Stock Market both rose 5.4%.

The FTSE EPRA Nareit Developed Extended Index fell 4.5% in January, and posted a total return of 16.0% since Oct. 19, 2023.

The FTSE Nareit All Equity REITs Index declined 4.9% in January. Broader markets posted narrow gains as the Russell 1000 rose 1.4% and the Dow Jones U.S. Total Stock Market rose 1.1%.

The FTSE EPRA Nareit Developed Extended Index rallied in the fourth quarter of 2023 as bond yields declined in the United States and other developed markets.

U.S. REITs raised $5.2 billion from debt and equity offerings in the fourth quarter of 2023; note that this total is preliminary and will be revised upward when ATM program usage data become available.

REITs Rebounded in the Fourth Quarter as Treasury Yields Declined

The FTSE Nareit All Equity REITs Index rose 11.9% in November.