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REIT Replay: Rough start

REITs and the broader markets dipped Monday, March 27, as the Dow Jones Industrial Average saw its longest losing streak since 2011.

The MSCI US REIT Index (RMZ) closed 0.90% lower at 1,130.76, and the SNL US REIT Equity Index declined 0.70% to close at 306.21. The Dow Jones Industrial Average fell 0.22% to 20,550.98, while the S&P 500 dropped 0.10% to end the day at 2,341.59.

Senior Housing Properties Trust said Monday that an undisclosed sovereign institutional investor set up a joint venture with the company and will contribute approximately $261 million for a 45% equity stake in two Boston life science properties Senior Housing acquired in 2014.

Shares of Senior Housing Properties rose 0.85% to close at $20.28.

GEO Group Inc.'s board declared a 3-for-2 stock split of the company's common stock. The company said Monday that it expects its common stock to begin trading at the split-adjusted price April 25.

Shares of GEO Group fell 0.48%, closing at $45.75.

Hudson Pacific Properties Inc. said Monday that it wrapped up the sale of a three-story office building in Santa Monica, Calif., for $35 million.

Hudson Pacific shares dropped 1.83% to close at $33.78.

FelCor Lodging Trust Inc.'s board recommended that its shareholders turn down Ashford Hospitality Trust Inc.'s director nominees, according to a Friday filing.

FelCor shares slid 0.40% to $7.42 and Ashford Trust shares decreased 0.85% to close at $5.80.

American Homes 4 Rent said Friday that the sole underwriter of its public offering of class A common shares fully exercised its option to purchase up to 1,650,000 additional shares for estimated net proceeds of roughly $286.1 million. The company expects to close the offering March 28.

American Homes 4 Rent shares declined 0.94% to close at $23.16.

Also on Friday, Easterly Government Properties Inc. said underwriters in its 4.3 million-share common stock offering fully exercised their option to buy up to 645,000 additional shares. The offering is set to close March 27.

Easterly Government shares shed 0.93%, closing at $19.25.

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