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REIT Replay: That's a wrap


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Real Estate News & Analysis: May Edition

REIT Replay: That's a wrap

REITs continued to gain ground and the broader markets ended in the red Friday, Dec. 30, as a strong year for the stock market wound to a close.

The SNL US REIT Equity Index gained 0.96% to close at 305.78, while the MSCI US REIT Index (RMZ) rose 1.20% to end the day at 1,147.44. The Dow Jones Industrial Average slid 0.29% to close at 19,762.60, and the S&P 500 fell 0.46%, closing at 2,238.83.

Welltower Inc. said Thursday it completed the sale of 28 long-term and post-acute care facilities, master-leased to Genesis HealthCare Corp., to a joint venture. Additionally, Welltower completed the restructuring of two real estate loans to Genesis with an outstanding principal balance of $317.0 million.

Welltower shares climbed 1.76% to end the day at $66.93.

In personnel news, Lauren Dillard joined SL Green Realty Corp.'s board as an independent director, the company said in a Friday release. Dillard, whose appointment to SL Green's board is effective Dec. 30, is a partner and managing director of Carlyle Group LP.

SL Green shares rose 2.33%, closing at $107.55.

James Stevens resigned as the CEO, president and a board member of American Housing Income Trust Inc., according to a Friday filing. The company appointed Chairman Sean Zarinegar as its new CEO and president.

Shares of American Housing Income ballooned 31.87% to close at 99 cents.

Morguard Real Estate Investment Trust said Friday that it completed a public bought-deal offering of C$175 million of 4.50% convertible unsecured subordinated debentures due Dec. 31, 2021, with Morguard Corp. acquiring C$50 million of the debentures as part of the transaction.

Morguard REIT shares ticked up 0.68% to close at C$14.89.

On the macro front, the latest statistics from STR showed that U.S. hotels recorded negative performance for the week ended Dec. 24, with average daily rate falling 3.0% year over year to $106.06 and revenue per available room dropping 4.2% to finish the week at $44.76. Occupancy slid 1.2% to 42.2%.

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