REIT Replay: US office REIT index jumps during first week of June

The office sector index rose 5.80% during the first week of June, the largest gain among the Dow Jones US real estate sector indexes.

The industrial REIT index followed with a 0.80% increase, while the healthcare REIT index logged a very slight 0.03% increase. The apartment REIT index fell 2.01%, while the retail and hotel REIT indexes posted declines of 0.32% and 0.14%, respectively.

US equity real estate investment trust indexes nudged up over the week, with the Dow Jones Equity All REIT index increasing a slight 0.22% and the MSCI US REIT (RMZ) index up 0.40%.

Larger gains were seen in the broader stock market indexes, with the S&P 500 up 1.50% and the Dow Jones Industrial Average growing 1.17%.

All five of the top-performing REIT stocks above $200 million in market capitalization were in the office sector. Hudson Pacific Properties Inc. closed the week with the largest increase, up 26.34%, followed by SL Green Realty Corp. and BXP Inc. with share-price increases of 13.37% and 10.08%, respectively. Empire State Realty Trust Inc. and Kilroy Realty Corp. rounded out the top-five REIT stocks for the week with increases of 9.66% and 8.45%, respectively.

Multifamily REIT Mid-America Apartment Communities Inc. logged the largest share-price decline for the week, down 4.32%. Single-family rental REIT American Homes 4 Rent and communications REIT SBA Communications Corp. followed next with share-price declines of 3.09% and 2.68%, respectively.