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REIT Replay: REIT prices dip, broad market logs gains during week ended Oct. 11

U.S. real estate investment trust indexes finished the week ended Oct. 11 in the red, with the SNL U.S. REIT Equity index down slightly at 0.54% and the MSCI U.S. REIT (RMZ) index dropping 0.60%.

The broader markets climbed during the week, with the Dow Jones Industrial Average increasing 0.91% and the S&P 500 up 0.62%.

The SNL U.S. REIT Office and SNL U.S. REIT Healthcare indexes posted the largest declines for the week, down 1.03% and 0.86%, respectively. The SNL U.S. REIT Hotel index was the sole property sector index to log a weekly gain, at 0.34%.

Regional mall REIT CBL Properties' share price increased 6.50% from the previous week, the largest price increase of any REIT stock, followed by Tanger Factory Outlet Centers Inc., at 5.77%.

Plymouth Industrial REIT Inc. had the third-largest increase at 5.45%.

The largest decline among REITs during the week was for Innovative Industrial Properties Inc. with a 13.71% drop. Hotel REIT Ashford Hospitality Trust Inc. and City Office REIT Inc. posted the next-largest declines at 10.16% and 6.03%, respectively.

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