Share prices for U.S. equity real estate investment trusts rose during the week ended Jan. 11, outperforming the broader market after falling the previous week. The SNL U.S. REIT Equity index, which encompasses all publicly traded U.S. equity REITs, finished the week up 4.44%. The S&P 500 and Dow Jones Industrial Average logged increases of 2.54% and 2.40%, respectively.
All SNL REIT property sector indexes ended the week in the black. Industrial REITs led the way with a market-cap-weighted price increase of 7.15%. The hotel and office sector indexes followed with increases of 6.65% and 6.58%, respectively.
Shopping center-focused Retail Value Inc.'s share price jumped 14.87% during the week, the highest increase in share price of all REITs with market capitalizations above $200 million. Office REIT Office Properties Income Trust and cannabis-oriented Innovative Industrial Properties Inc. followed, logging share price increases of 14.65% and 11.84%, respectively.
Only four REITs with market capitalizations above $200 million recorded declines in share price during the week. Diversified REIT Safety Income & Growth Inc.'s share price fell 2.75%, while single-tenant retail-focused American Finance Trust Inc. logged a 2.09% decline in share price. Share prices for communications REIT Crown Castle International Corp. and energy infrastructure-focused InfraREIT Inc. also experienced slight dips.
MedEquities Realty Trust Inc. was the most-actively traded REIT stock during the week, with an average daily volume of about 4.4% of its common shares outstanding. On Jan. 2, the healthcare-focused REIT announced its acquisition by Omega Healthcare Investors Inc. in a deal valued at about $600 million.