REIT Replay: US equity REIT indexes retreat during week ended May 15

Indexes for US equity real estate investment trusts declined during the week ended May 15, even as the broader equity markets were mixed.

The Dow Jones Equity All REIT index finished the week down 2.46%, while the MSCI US REIT (RMZ) index closed down 2.16%. By contrast, the broader stock market showed a more resilient tone, with the S&P 500 up a slight 0.13%, and the Dow Jones Industrial Average slipping a slight 0.17%.

All Dow Jones US real estate property sector indexes posted declines for the week. The self-storage REIT index recorded the largest drop, down 4.73%, followed by the hotel and industrial REIT indexes with declines of 3.70% and 3.10%, respectively.

Self-storage REIT SmartStop Self Storage REIT Inc. logged the largest share-price decline for the week among all US equity REITs with at least $200 million in market capitalization, down 8.97%. Diversified JBG Smith Properties followed closely with an 8.61% decrease, while communications-focused SBA Communications Corp. recorded an 8.50% drop.

Data center REIT Fermi Inc. closed the recent week up 24.47%, the largest share-price gain of the sector. Healthcare REIT National Healthcare Properties Inc. and office REIT Hudson Pacific Properties Inc. were second and third, with share-price increases of 5.24% and 2.83%, respectively.

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