08/31/2021
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REITs rose again last week, with a 0.2% return on the FTSE Nareit All Equity REITs Index. REITs have increased seven out of the past eight weeks. Broader markets moved up a bit more decisively with a 1.8% return on the Russell 1000 and 1.5% return on the S&P 500.
Several REIT property sectors had outsized gains last week. Lodging/resort REITs were up 7.8%, bringing their year-to-date returns to 13.3%. Timber REITs rose 4.3%, specialty REITs were up 3.2%, and retail REITs increased 2.6%. Infrastructure REITs had the largest declines at minus 2.5%, trimming their year-to-date gains to a still-impressive 25.6%.
Mortgage REITs also rose last week with a 3.5% return for home financing mREITs and a 2.8% return for commercial financing mREITs.
