REIT Replay: US REIT indexes grow in week ended July 25

The Dow Jones Equity All REIT index closed the recent week up 1.56%, in line with the S&P 500's 1.46% increase and the Dow Jones Industrial Average's 1.26% gain.

Nearly all Dow Jones US real estate investment trust sector indexes closed the recent week in the black. The industrial REIT index logged the largest increase, up 2.40%. The office and retail indexes followed next with increases of 2.31% and 1.72%, respectively.

The apartment REIT index was the sole property sector index to close in the red, down a very slight 0.08%.

City Office REIT Inc. recorded the largest share-price increase among all US REITs with at least $200 million in market capitalization, up 27.78%. On July 24, the office REIT announced its definitive agreement to be acquired for $7.00 per common share in cash by MCME Carell Holdings LP and MCME Carell Holdings LLC, both affiliates of Elliott Investment Management LP and Morning Calm Management LLC. The deal has a transaction value of approximately $1.1 billion.

Communications REIT Uniti Group Inc. ranked second with a share-price increase of 21.09% for the week. On July 24, the communications REIT announced that it received all necessary state and federal regulatory approvals to complete its previously announced merger with Windstream Holdings II LLC. Uniti Group and Windstream expect the merger to be completed after market close on or around Aug. 1.

Hotel-focused Service Properties Trust rounded out the top three for the week, with a share-price increase of 16.09%.

Two farmland REITs, Farmland Partners Inc. and Gladstone Land Corp., logged the largest share-price declines this past week, down 7.43% and 5.63%, respectively. Healthcare REIT Global Medical REIT Inc. followed next with a share-price decline of 4.74%.