U.S. real estate investment trust indexes finished the week ended Oct. 18 in the black, with the MSCI U.S. REIT (RMZ) index up 1.31% and the SNL U.S. REIT Equity index increasing 1.07%.
The broader markets were mixed during the week, with the S&P 500 up 0.54% and the Dow Jones Industrial Average down 0.17%.
By property sector, the SNL U.S. REIT Industrial index recorded the largest increase in share prices, up 2.74%. The healthcare and multifamily indexes followed, up 2.02% and 1.63%, respectively. The self-storage and hotel indexes logged the only share-price declines for the past week, at 1.29% and 1.25%, respectively.
The best-performing REITs were shopping center-focused Cedar Realty Trust Inc., up 17.01% week over week, and regional mall REIT CBL Properties, up 14.50%. CatchMark Timber Trust Inc. took the third spot with an increase of 9.59%.
The largest decline among REITs during the week was for cannabis-oriented Innovative Industrial Properties Inc. with a 7.91% drop. Hotel REITs Hersha Hospitality Trust and Park Hotels & Resorts Inc. posted the next-largest declines at 4.86% and 4.01%, respectively.