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REIT Replay: REIT share prices grow with broader market in week ended Aug. 30

Share prices for U.S. equity real estate investment trusts climbed alongside the broader market during the week ended Aug. 30.

The SNL U.S. REIT Equity index finished the week up 1.72%, while the Dow Jones Industrial Average and S&P 500 increased 3.02% and 2.79%, respectively.

Each of the SNL REIT property sector indexes posted weekly share-price increases, with the multifamily and hotel sectors leading the way, climbing 2.11% and 1.95%, respectively.

The best-performing companies were regional mall REIT Pennsylvania Real Estate Investment Trust, up 9.83% this past week, and hotel-focused Braemar Hotels & Resorts Inc., up 9.82%.

Ashford Hospitality Trust Inc., a hotel REIT, rounded out the top three with an increase of 9.38%.

The largest decline among REITs during the week was for cannabis-oriented Innovative Industrial Properties Inc. with a 12.16% drop. Communications REIT Uniti Group Inc. and regional mall-focused Washington Prime Group Inc. posted the next-largest declines at 4.65% and 2.12%, respectively.

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