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REIT Replay: REITs, broader market climb during week ended Sept. 6

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REIT Replay: REITs, broader market climb during week ended Sept. 6

Share prices for U.S. equity real estate investment trusts rose alongside the broader market during the week ended Sept. 6.

The SNL U.S. REIT Equity index finished the week up 1.19%, while the Dow Jones Industrial Average and S&P 500 rose 1.49% and 1.79%, respectively.

By property sector, the SNL U.S. REIT Hotel index recorded the largest increase in share prices, up 2.52%. The retail and healthcare indexes followed, up 2.36% and 2.07%, respectively. On the other hand, the self-storage index logged the only share-price decline for the past week, at 2.09%.

The best-performing companies were diversified REIT Colony Capital Inc., up 16.67% this past week, and shopping center-focused Urban Edge Properties, up 8.05%.

RPT Realty, a shopping center REIT, saw the third-largest increase at 7.23%.

The largest decline among REITs during the week was for office REIT @4543503 , down 12.21% after adjusting for the REIT's recent 1-for-3 reverse split of its common stock and the $14-per-share special cash dividend payment. Cannabis-oriented Innovative Industrial Properties Inc. and ground-lease-focused Safehold Inc. posted the next-largest declines at 6.57% and 5.56%, respectively.

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