trending Market Intelligence /marketintelligence/en/news-insights/trending/acucnzdfmo7rae_0vwc0jq2 content esgSubNav
In This List

REIT Replay: Dow back in the black after early plunge; REITs regain ground

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


REIT Replay: Dow back in the black after early plunge; REITs regain ground

A day after a record drop, the Dow Jones Industrial Average closed higher following a morning rout and late-afternoon surge Tuesday, Feb. 6. The S&P 500 and the MSCI US REIT Index (RMZ) also closed higher.

Regional mall landlord Macerich Co. is in late-stage negotiations to sell its Westside Pavilion mall in West Los Angeles to office-focused real estate investment trust Hudson Pacific Properties Inc. Macerich plans to remain as a partner in the asset after the sale, The Real Deal reported, citing unnamed sources.

Macerich shares declined 0.13% to close at $59.65, and Hudson Pacific shares slipped 1.14% to close at $29.39.

Liberty Property Trust picked up a 400,169-square-foot industrial building in Commerce, Calif., for $92.7 million and is on schedule to close its first industrial development project in Redlands, Calif., during the first quarter.

The industrial- and office-focused REIT logged NAREIT-defined funds from operations of 68 cents per share for the fourth quarter of 2017, reflecting a 65.3% year-over-year gain in the aggregate. It expects NAREIT-defined FFO per share for the full year 2018 to hit a range of $2.53 to $2.65.

NAREIT is the U.S.-based trade association for real estate investment trusts and publicly traded real estate companies.

Liberty Property shares climbed 1.75% to close at $39.61.

Diversified REIT Armada Hoffler Properties Inc. provided full-year 2018 guidance for normalized FFO per share in the range of $1.00 to $1.05.

Armada Hoffler shares dropped 4.40%, ending the day at $12.82.

Lodging REIT Apple Hospitality REIT Inc. paid $63 million to acquire two Hilton Worldwide Holdings Inc.-branded hotels in Atlanta and Memphis, Tenn.

Apple Hospitality shares added 0.88% to close at $18.33.

SNL Image

Now featured on S&P Global Market Intelligence

Real Estate Rundown: In real estate, 2018 may be the year of the blockchain: Real estate industry conversation is increasingly dominated by an alphabet soup of tech-oriented buzz-phrases, but the blockchain may be the locus for transformative change this year.

Market prices and index values are current as of the time of publication and are subject to change.