REIT Replay: REIT indexes underperform broader markets in week ended June 27

Indexes for US real estate investment trusts underperformed the broader market during the week ended June 27.

The Dow Jones Equity All REIT index closed the recent week down 0.92%, compared with a strong 3.44% gain for the S&P 500 and a 3.82% increase for the Dow Jones Industrial Average.

Among the Dow Jones US real estate sector indexes, the office sector index logged the largest drop in the recent week, down 1.21%. The apartment and industrial indexes also posted declines during the past week, down 1.04% and 0.38%, respectively. On the other hand, the hotel and healthcare REIT indexes registered increases of 0.66% and 0.63%, respectively, while the retail and self-storage indexes also logged small gains of 0.19% and 0.13%, respectively.

Datacenter REIT Equinix Inc. logged the largest share-price decline in the past week, down 11.07% following its Analyst/Investor Day presentation.

Two office REITs, Empire State Realty Trust Inc. and Vornado Realty Trust, followed next with share-price declines of 5.60% and 5.01%, respectively.

Healthcare REIT Global Medical REIT Inc. closed the recent week with the largest share-price increase, up 8.72%. FrontView REIT Inc., a diversified REIT, ranked second with a share-price increase of 6.91%.

Three hotel REITs — Summit Hotel Properties Inc., Pebblebrook Hotel Trust and Xenia Hotels & Resorts Inc. — followed next to rounded out the top five with share-price increases of 6.16%, 5.47% and 4.32%, respectively.