REIT Replay: REIT indexes underperform broader market during week ended Aug. 8

US real estate investment trust indexes underperformed the broader stock market during the week ended Aug. 8.

The Dow Jones Equity All REIT index closed the recent week down a slight 0.10%, compared to a 2.43% gain for the S&P 500 and a 1.35% increase for the Dow Jones Industrial Average.

Among the Dow Jones US real estate property sector indexes, the self-storage REIT index logged the largest decline, down 1.41%. The office and hotel REIT indexes followed next, both with declines of 0.66%.

On the other end, the retail and healthcare REIT indexes both closed the recent week up 1.35%. The apartment REIT index also closed in the black, up a slight 0.24%.

Communications REIT Uniti Group Inc. logged the largest share-price decline among all US REITs with at least $200 million in market capitalization, down 22.03%. On Aug. 5, Uniti Group released its second-quarter earnings and reported a net loss of $10.7 million, or 4 cents per share. Additionally, the REIT reported adjusted funds from operations of $96.5 million, or 36 cents per share.

Hotel-focused Service Properties Trust and Peakstone Realty Trust, which owns a mix of industrial and office properties, followed next with share-price declines of 11.97% and 11.44%, respectively.

On the other hand, diversified net-lease REIT Global Net Lease recorded the largest share-price increase for the week, up 11.63%. Timber REIT Rayonier Inc. and net-lease REIT FrontView REIT Inc. ranked in the second and third spots with share-price increases of 11.23% and 9.03%, respectively.