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REITs notch short interest gains in September 1st half

U.S. equity REITs saw average short interest rise 12 basispoints between Aug. 31 and Sept. 15, reaching 3.28% of outstanding shares.

The biggest short-interest gain during the period came from specialtyREITs, up 47 basis points to 4.71% of shares held short. Regional mall anddiversified REITs experienced the second- and third-largest increases inshorts, rising 24 basis points to 3.72% and 17 basis points to 2.50% ofoutstanding shares, respectively.

None of the sectors logged a decline in average shortinterest during the period, although hotel, industrial and single-tenant REITsall saw their shares held short remain flat at 4.80%, 2.91% and 3.29% ofoutstanding shares, respectively, as of Sept. 15.

On a company basis, Investors Real Estate Trust topped the list of equityREITs with the biggest gains in short interest in the first half of September.

The percentage of the company's shares held short relativeto shares outstanding rose 245 basis points to 8.03% as of Sept. 15.

AppleHospitality REIT Inc. reached the top of the list of equity REITswith the steepest declines in short interest in the first half of September.The company saw short interest drop 145 basis points to 3.73% of sharesoutstanding at the end of the period.

SeritageGrowth Properties topped the list of most-shorted REITs betweenAug. 31 and Sept. 15. The company saw short interest rise 30 basis points to19.62% of shares outstanding.

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