REIT Replay: US REIT indexes jump during week ended Aug. 22

US real estate investment trust indexes outperformed the broader stock market during the week ended Aug. 22.

The Dow Jones Equity All REIT index closed the recent week up 2.71%, compared to a 0.27% increase for the S&P 500 and a 1.53% rise for the Dow Jones Industrial Average.

Additionally, all Dow Jones US real estate property sector indexes closed the week in the black. The industrial REIT index logged the largest gain, up 5.11%, followed by the office and hotel REIT indexes with increases of 4.71% and 4.57%, respectively.

Industrial REIT Plymouth Industrial REIT Inc.'s share price spiked 41.02% during the past week, the largest share-price increase among all US REITs with at least $200 million in market capitalization. On Aug. 19, Plymouth Industrial announced that it received an unsolicited, non-binding proposal from Sixth Street Partners LLC to acquire all of the outstanding shares of the REIT's common stock for cash consideration of $24.10 per share.

Healthcare REIT Diversified Healthcare Trust and hotel-focused Service Properties Trust ranked in the second and third spots with share-price increases of 12.76% and 12.00%, respectively.

On the other hand, office REIT Net Lease Office Properties recorded the largest share-price decline for the week, down 9.43%. Single-tenant net lease REIT NETSTREIT Corp. and multifamily-focused Aimco followed next with share-price declines of 1.44% and 1.40%, respectively.