Share prices for U.S. equity real estate investment trusts continued to increase during the week ended Aug. 2, while the broader market fell.
The SNL U.S. REIT Equity index finished the week up 1.23%, while the Dow Jones Industrial Average and S&P 500 dropped 2.60% and 3.10%, respectively.
By property sector, the SNL U.S. REIT Self-storage index recorded the largest increase in share prices, up 4.15%. The healthcare and multifamily indexes followed, up 1.43% and 0.64%, respectively.
The hotel and industrial indexes logged the largest share-price declines for the past week, at 2.93% and 1.74%, respectively.
The worst-performing companies were hotel REIT Hersha Hospitality Trust, down 8.97% during the week, and regional mall-focused Pennsylvania Real Estate Investment Trust, with an 8.82% drop.
Braemar Hotels & Resorts Inc., a hotel REIT, followed with a decrease of 7.81%.
CyrusOne Inc., a data center REIT, recorded the largest week-over-week increase in share price at 12.90%. Data center REIT Equinix Inc. and prison REIT GEO Group Inc. posted the next-largest increases at 7.22% and 6.42%, respectively.