REIT Replay: US REIT indexes continue to climb during week ended April 10

Indexes for US equity real estate investment trusts continued to climb during the week ended April 10, in tandem with the broader stock market indexes.

The Dow Jones Equity All REIT closed the recent week up 3.26%, compared to a 3.56% gain for the S&P 500 and a 3.04% increase for the Dow Jones Industrial Average.

Additionally, all Dow Jones US real estate property sector indexes closed the recent week in the black. The self-storage and hotel REIT indexes logged the largest gains, up 4.96% and 4.38%, respectively, followed by the retail and industrial indexes with increases of 4.07% and 3.11%, respectively.

Shopping center REIT Whitestone REIT recorded the largest share-price increase among all US equity REITs with at least $200 million in market capitalization, up 13.99%. On Thursday morning, April 9, Whitestone REIT announced its definitive agreement to be acquired by Ares Management Corp. in an all-cash transaction valued at approximately $1.7 billion.

Ground lease-oriented Safehold Inc. and residential REIT Millrose Properties Inc. ranked second and third with increases of 11.25% and 10.64%, respectively.

On the other end, data center REIT Fermi Inc. logged the largest share-price decline for the week, down 9.06%. Two office REITs, Alexandria Real Estate Equities Inc. and Kilroy Realty Corp., followed next with share-price declines of 1.43% and 0.81%, respectively.