REIT Replay: REIT indexes underperform broader market during last week of May

US equity real estate investment trust indexes underperformed the broader stock market during the week ended May 29.

The Dow Jones Equity All REIT closed the final week of May down 1.02%, compared to a 1.43% gain for the S&P 500 and a 0.90% increase for the Dow Jones Industrial Average.

Among the Dow Jones US real estate property sector indexes, the healthcare REIT index logged the largest decline during the recent week, down 4.19%. The apartment REIT index followed next with a 1.63% decline during the week. The industrial REIT index also closed the week down 1.28%, while the retail REIT index fell 0.46%.

On the other hand, the office REIT index rose 1.34% during the week, while the hotel and self-storage REIT indexes also closed in the black with gains of 0.62% and 0.38%, respectively.

Shopping center REIT SITE Centers Corp. recorded the largest share-price decline among all US equity REITs with at least $200 million in market capitalization, down 5.61%. Four healthcare REIT stocks followed next, with Welltower Inc.'s share price down 5.01% for the week, along with Diversified Healthcare Trust, Ventas Inc. and National Health Investors Inc. logging share-price declines of 4.91%, 4.26% and 4.10%, respectively.

Data center REIT Fermi Inc. logged the largest share-price increase for the week, up 16.72%. NexPoint Diversified Real Estate Trust ranked second with a share-price increase of 15.58%. Both cold-storage-focused REITs, Lineage Inc. and Americold Realty Trust Inc., were also among the top-five performing REIT stocks for the week in the third and fifth spots with share-price increases of 8.64% and 5.94%, respectively.

Disclaimer: This content may be AI-assisted and is composed, reviewed, edited and approved by a human at S&P Global.