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REIT Replay: REITs close in the black; broader markets flatten out

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REIT Replay: REITs close in the black; broader markets flatten out

The broader markets held steady and real estate investment trusts closed higher Thursday, June 14, as investors appeared to cautiously accept the Federal Reserve's plans to gradually increase interest rates.

The U.S. Marshals Service signed an agreement with prison REIT CoreCivic Inc. to house up to 1,350 prisoners at the company's 2,672-bed Tallahatchie County Correctional Facility in Tutwiler, Miss.

CoreCivic shares gained 1.44% to close at $21.19.

Office REIT SL Green Realty Corp.'s board of directors increased the company's share buyback program to $2.0 billion, after approving a $500 million boost.

Shares of SL Green ticked up 2.14% to finish at $97.84.

Diversified REIT W. P. Carey Inc.'s board of directors increased its quarterly cash dividend to $1.020 per share, up from its prior quarterly distribution of $1.015 per share.

W. P. Carey shares gained 1.65% to close at $66.97.

Industrial REIT EastGroup Properties Inc. secured a new $350 million revolving credit facility, in place of its former $300 million facility.

EastGroup Properties inched 1.21% higher to close at $94.41.

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