REIT Replay: REIT share prices continue to fall during week ended March 20

Indexes for US equity real estate investment trusts continued to decline alongside the broader stock market during the week ended March 20, marking the third consecutive week of falling REIT share prices.

The Dow Jones Equity All REIT closed the recent week down 4.08%, while the MSCI US REIT (RMZ) dropped 3.93%.

The broader stock market indexes also closed the week in the red, with the S&P 500 down 1.90% and the Dow Jones Industrial average down 2.11%.

All Dow Jones US real estate property sector indexes logged declines for the recent week. The self-storage REIT index recorded the largest drop, at 7.93%, followed by the healthcare REIT index, down 5.45%.

Hotel-focused Service Properties Trust recorded the largest share-price decline of all US equity REITs with at least $200 million in market capitalization, down 13.94%. Office REIT Hudson Pacific Properties Inc. and self-storage REIT Public Storage followed next with share-price declines of 13.08% and 10.73%, respectively.

On the other end, self-storage REIT National Storage Affiliates Trust recorded the largest share-price increase during the week, up 19.97%. On Monday, March 16, the self-storage REIT announced its agreement to be acquired by Public Storage in an all-stock transaction valued at an enterprise value of approximately $10.5 billion.

Two diversified REITs, JBG Smith Properties and AH Realty Trust Inc., ranked second and third with share-price increases of 4.40% and 4.39%, respectively.