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REIT Replay: Share prices for US REITs dip during week ended Dec. 6

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REIT Replay: Share prices for US REITs dip during week ended Dec. 6

U.S. real estate investment trust indexes finished the week ended Dec. 6 in the red, with the SNL U.S. REIT Equity index down slightly at 0.32% and the MSCI U.S. REIT (RMZ) index falling slightly at 0.43%.

The broader markets were mostly flat for the week, with the Dow Jones Industrial Average inching down 0.13% to 28,015.06 and the S&P 500 inching up 0.16% to 3,145.91.

The retail and multifamily sectors posted the largest declines for the week with drops of 1.41% and 0.40%, respectively. The hotel, self-storage and office sectors logged weekly gains.

The best-performing companies were single-family REIT Front Yard Residential Corp., up 11.29% during the week, and healthcare-focused Senior Housing Properties Trust, up 4.64%.

Lamar Advertising Co. had the third-largest increase at 3.87%.

The largest decline among REITs during the week was for regional mall REIT Washington Prime Group Inc. with a 9.62% drop. Regional mall REIT Pennsylvania Real Estate Investment Trust and cannabis-focused Innovative Industrial Properties Inc. posted the next-largest declines at 7.29% and 5.58%, respectively.

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