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REIT Replay: REIT share prices bounce back during week ended Oct. 18


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REIT Replay: REIT share prices bounce back during week ended Oct. 18

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.

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