REIT shares notched a gain last week with a 0.8% total return on the FTSE Nareit All Equity REITs Index. The increases came even as broader markets edged slightly lower, as seen in the negative 0.3% return on the Russell 1000. REITs widened slightly their outperformance year-to-date with a 15.7% total return, compared to 10.7% on the Russell 1000.
Most property sectors rose last week, led by the 2.6% total return by office REITs. Lodging/resorts and timber REITs, in contrast, were down 4.4% and 2.9%, respectively. Both of these sectors remain ahead of the Russell 1000 so far this year, though, with YTD returns of 14.0% and 14.1%, respectively.
mREITs rose as well, with a total return of 0.9% for home financing and total return of 0.8% for commercial financing mREITs.
