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REIT Replay: REIT prices grow during week ended Sept. 27; broad market dips

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REIT Replay: REIT prices grow during week ended Sept. 27; broad market dips

U.S. real estate investment trust indexes finished the week ended Sept. 27 in the black, with the MSCI U.S. REIT (RMZ) index up 0.87% and the SNL U.S. REIT Equity index up a slight 0.21%.

The broader markets were down during the week, with the S&P 500 dropping 1.01% and the Dow Jones Industrial Average down 0.43%.

By property sector, the SNL U.S. REIT Healthcare index recorded the largest increase in share prices, up 1.77%. The multifamily and retail indexes followed, up 1.35% and 1.34%, respectively. On the other hand, the hotel and self-storage indexes logged the only share-price declines for the past week, at 0.93% and 0.60%, respectively.

CBL & Associates Properties Inc., a regional mall REIT, had the largest week-over-week increase in share price at 15.83%. Shopping center REIT Cedar Realty Trust Inc. and hotel REIT Ashford Hospitality Trust Inc. posted the next-largest increases at 11.83% and 6.79%, respectively.

Alternatively, SBA Communications Corp., a communications REIT, topped the list of largest share price drops from the previous week at 7.77%, followed by Plymouth Industrial REIT Inc., an industrial REIT, at 5.11%. Hotel REIT Park Hotels & Resorts Inc. had the third-largest decrease at 4.31%.

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