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REIT Replay: REIT prices rise during week ended Aug. 9; broader market drops

U.S. real estate investment trust indexes closed the week ended Aug. 9 in the black, with the SNL U.S. REIT Equity index up 1.76% and the MSCI U.S. REIT (RMZ) index rising 1.55%.

The broader markets dropped during the week, with the Dow Jones Industrial Average down 0.75% and the S&P 500 dropping 0.46%.

By property sector, the SNL U.S. REIT Healthcare index recorded the largest increase in share prices, up 3.56%. Following were the self-storage and industrial indexes, up 2.94% and 1.73%, respectively. The office and hotel indexes logged the only share-price declines for the past week, down 0.68% and 0.35%, respectively.

The worst-performing companies were diversified REIT Safehold Inc., down 12.86% from the previous week, and timber-focused Rayonier Inc., with an 8.34% drop.

Cedar Realty Trust Inc., a shopping center REIT, posted the third-largest decrease at 6.87%.

Conversely, Ashford Hospitality Trust Inc., a hotel REIT, recorded the largest week-over-week increase in share price at 13.23%. Energy infrastructure REIT CorEnergy Infrastructure Trust Inc. and healthcare REIT Senior Housing Properties Trust posted the next-largest increases at 10.70% and 10.62%, respectively.

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