REIT Replay: US REIT share prices grow beside broader market in week ended May 1

Indexes for US equity real estate investment trusts advanced alongside the broader stock market during the week ended May 1.

The Dow Jones Equity All REIT index closed the recent week up 1.16%, while the MSCI US REIT (RMZ) closed 1.11% higher. For comparison, the S&P 500 increased 0.91% over the week, while the Dow Jones Industrial Average ticked up 0.55%.

Nearly all Dow Jones US real estate property sector indexes logged weekly gains. The apartment and healthcare REIT indexes recorded the largest increases for the week, up 4.18% and 3.38%, respectively. The self-storage and hotel REIT indexes ranked next, up 1.76% and 1.33%, respectively.

The office REIT index was the sole Dow Jones US real estate property sector index to close the recent week in the red, down 0.57%.

Multifamily REIT NexPoint Residential Trust Inc. registered the largest share-price increase for the week among all US REITs with at least $200 million in market capitalization, up 10.34%. Office REIT Hudson Pacific Properties Inc. and information storage-focused Iron Mountain Inc. followed next with share-price increases of 9.79% and 9.62%, respectively.

Life sciences REIT Alexandria Real Estate Equities Inc. logged the largest share-price decline for the week, down 12.68%. Farmland REIT Farmland Partners Inc. recorded the second-largest decline, down 8.54%, followed by ground lease-oriented Safehold Inc., down 7.07%.