U.S. equity real estate investment trusts saw average short interest rise 7 basis points during the second half of July, reaching 4.20% of outstanding shares.

Shopping center REIT Cedar Realty Trust Inc. had the largest drop in short interest relative to shares outstanding among SNL-covered equity REITs between July 14 and July 31. The percentage of the company's shares held short relative to shares outstanding declined 376 basis points to 7.34% as of July 31.

Tanger Factory Outlet Centers Inc. saw the largest rise in short interest relative to shares outstanding among SNL-covered equity REITs between July 14 and July 31. The shopping center REIT saw short interest increase 135 basis points to 16.47% of shares outstanding at the end of the period.

Seritage Growth Properties topped the list of most-shorted REITs between July 14 and July 31. The shopping center REIT saw short interest fall 181 basis points to 34.90% of shares outstanding.