REIT Replay: US REIT indexes climb during 1st week of February

Indexes for US equity real estate investment trusts climbed during the first week of February, outperforming the S&P 500.

The Dow Jones Equity All REIT index closed the recent week up 2.32%, while the MSCI US REIT (RMZ) index increased 3.09% over the recent week.

The S&P 500 closed the recent week largely flat, down a very slight 0.10%; however, the Dow Jones Industrial Average increased 2.50% over the week.

All Dow Jones US real estate property sector indexes recorded increases for the week. The industrial and retail REIT indexes logged the largest increases, up 4.42% and 3.99%, respectively, followed by the healthcare REIT index, up 3.89%. The hotel and self-storage REIT indexes rounded out the top five with increases of 3.17% and 3.11%, respectively.

Peakstone Realty Trust, which recently completed the disposition of all of its office properties in December and finished its transformation into an industrial-only REIT, recorded the largest share-price gain during the recent week among all US equity REITs with at least $200 million in market capitalization, up 33.42%. On Monday, Feb. 2, Peakstone announced its definitive agreement to be taken private by Brookfield Asset Management Ltd. for $21.00 per share in cash, representing a transaction value of about $1.20 billion. The announced deal marked the first M&A deal in 2026 involving a publicly traded US equity REIT and the fourth go-private transaction for the sector since October 2025.

Office REIT Brandywine Realty Trust and retail-focused Alpine Income Property Trust Inc. ranked next with share-price increases of 15.55% and 11.46%, respectively.

On the other hand, data center REIT Fermi Inc. logged the largest share-price decline for the week, down 8.26%. Communications REIT Crown Castle Inc. and office REIT Hudson Pacific Properties Inc. followed next with share-price declines of 6.83% and 5.45%, respectively. Another communications REIT, American Tower Corp., and industrial-focused Rexford Industrial Realty Inc. rounded out the bottom-five performing REIT stocks for the week with share-price declines of 4.47% and 3.85%, respectively.