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US REIT short interest rises in November 2nd half

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US REIT short interest rises in November 2nd half

U.S. equity real estate investment trusts saw average short interest rise 4 basis points during the second half of November, reaching 4.60% of outstanding shares.

By sector, regional mall REITs were the most shorted SNL-covered equity REITs, with 12.78% of their outstanding shares shorted after a 12-point decline between Nov. 15 and Nov. 30, while manufactured-home REITs were the least shorted, with 1.67% of the sector's shares held short after a 29-basis-point rise.

By company, regional mall REIT CBL Properties saw the largest decline in short interest relative to shares outstanding. The percentage of the company's shares held short relative to shares outstanding fell 409 basis points to 22.09% as of Nov. 30.

Another regional mall REIT, Taubman Centers Inc., posted the greatest rise in short interest with an increase of 337 basis points to 10.75% of shares outstanding.

Seritage Growth Properties topped the list of most-shorted REITs during the period. The shopping center REIT saw short interest climb 117 basis points to 36.39% of shares outstanding.

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