The broader markets ended the week in the red, while share prices for U.S. equity real estate investment trusts gained ground in the week ended May 24.

U.S. stocks, however, finished on a somewhat brighter note on Friday, ahead of the Memorial Day weekend, following reports that President Donald Trump may loosen sanctions against Huawei, as part of a broader trade deal with the Chinese government.

The S&P 500 and the Dow Jones Industrial Average ended the week down 1.17% and 0.69%, respectively, while the MSCI U.S. REIT (RMZ) index and the SNL U.S. REIT Equity index finished up 0.29% and 0.15%, respectively.

IStar Inc. saw its share price rise the most in the week, ending 10.61% higher. The diversified REIT recently paid $57 million to purchase nine bowling centers from Bowlero Corp., as part of a $112 million deal with the bowling entertainment venue operator.

Front Yard Residential Corp. finished as the second-best-performing stock, seeing a rise of 8.19% for the week.

The single-family REIT recently agreed to establish a committee of independent directors to explore strategic alternatives, including a potential sale, internalization of asset management, and other options.

Shares of office REIT Office Properties Income Trust lost the most value in the week, dropping 8.96%, followed by hotel REIT Ashford Hospitality Trust Inc. and timber REIT PotlatchDeltic Corp., which saw drops of 6.62% and 6.47%, respectively.

The SNL U.S. Self-Storage REIT index finished the week up 2.16%, the best return of all the major property indexes. The healthcare and multifamily indexes followed with respective week-over-week gains of 1.15% and 0.92%. The hotel sector was the worst-performing index, losing 1.58% in the week.

Cannabis-oriented Innovative Industrial Properties Inc. was the most actively traded REIT stock for the week, with an average daily volume equal to about 2.6% of its outstanding common stock.