REIT Replay: REIT share prices fall in 1st week of March

Share prices for US real estate investment trusts fell alongside the broader market during the first week of March.

The Dow Jones Equity All REIT index closed the recent week down 1.34%, while the S&P 500 fell 3.10% and the Dow Jones Industrial Average dropped 2.37%.

Nearly all of the Dow Jones US real estate sector indexes closed the week in the red. The apartment-focused REIT index logged the largest decline, down 2.57%, followed by the retail REIT index with a 2.55% drop. On the other hand, the hotel and self-storage REIT indexes logged small increases this past week, at 0.67% and 0.41%, respectively.

Information storage-focused REIT Iron Mountain Inc. saw the largest share-price decline last week among all US equity REITs with at least $200 million in market capitalization, down 9.43%. Regional mall REIT Simon Property Group Inc. ranked second-lowest, with a share-price drop of 8.06%. Two office REITs — Empire State Realty Trust Inc. and Brandywine Realty Trust — followed next with declines of 7.87% and 7.52%, respectively.

Belpointe PREP LLC and Peakstone Realty Trust posted the largest share-price increases over the past week, up 19.18% and 7.32%, respectively. Healthcare REIT Universal Health Realty Income Trust rounded out the top three with an increase of 5.26%.