REIT Replay: REIT indexes plunge with broader markets during week ended Oct. 10

Indexes for US real estate investment trusts plunged in the week ended Oct. 10, in tandem with the broader markets.

The Dow Jones Equity All REIT closed the recent week down 3.21%, while the MSCI US REIT (RMZ) index fell 3.48%. For comparison, the S&P 500 dropped 2.43% over the week, while the Dow Jones Industrial Average fell 2.73%.

All of the Dow Jones US real estate property sector indexes closed the recent week in the red. The office REIT index logged the furthest decline, at 8.30%, followed by the hotel and healthcare REIT indexes with drops of 5.36% and 4.59%, respectively. The self-storage REIT index recorded the smallest decline of the group, down 1.05%.

Hotel-focused Service Properties Trust logged the largest share-price decline of all US REITs with at least $200 million in market capitalization, down 14.02% for the week. Two office REITs, Alexandria Real Estate Equities Inc. and Brandywine Realty Trust, followed next with share-price declines of 11.79% and 11.71%, respectively.

On the other hand, cold-storage-oriented Americold Realty Trust Inc.'s share price grew 3.54% over the recent week, the largest increase among the US REIT sector. Data center REIT Equinix Inc. and communications REIT Crown Castle Inc. ranked second and third with share-price increases of 2.81% and 2.23%, respectively.