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REIT stocks bounce back and outperform broader market in Q2'18

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REIT stocks bounce back and outperform broader market in Q2'18

The SNL U.S. REIT Equity index bounced back in the second quarter of 2018 with a total return of 8.5% during the period, outperforming the S&P 500's 3.4% return.

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Year-to-date through the second quarter, the SNL U.S. REIT Equity index trailed the S&P 500 by 176 basis points, with a total return of just 0.9%.

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All SNL property-sector indexes topped the S&P 500 during the quarter. Self-storage real estate investment trusts led the way, with a market-cap-weighted total return of 15.0%. All five self-storage REITs above $200 million in market capitalization posted returns in the double digits for the quarter.

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Regional mall REIT CBL & Associates Properties Inc. posted the highest total return during the quarter among U.S. REITs with market caps greater than $200 million as of June 29, at 38.4%.

Industrial REIT Innovative Industrial Properties Inc. and prison REIT GEO Group Inc. followed in the second and third spots, with total returns of 37.9% and 37.5%, respectively, for the quarter.

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Only five equity REITs with market caps over $200 million generated negative returns during the second quarter.

Healthcare REIT New Senior Investment Group fell at the bottom of the list, with a total return of negative 4.2%. Share prices fell more than 12% on May 10 after the company announced its agreement to terminate its triple-net leases with affiliates of Holiday Retirement as part of a strategic review.

Communications REIT SBA Communications Corp. and government office-focused Easterly Government Properties Inc. placed next on the list, with total returns of negative 3.4% and negative 1.9%, respectively.

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Use S&P Global Market Intelligence's Worldwide Real Estate Total Return Analysis Excel template to calculate total returns across a specific time period for a chosen set of companies. Other templates are available in our Excel Template Library.