As of March 28, the total returns of public real estate investment trusts were down 3.34 percent compared to the month before amid broader market volatility and economic uncertainty.
Meanwhile, the 10–year Treasury yield has ticked up 0.6 percent – the inverse relationship between Treasury yields and REIT performance a recent phenomenon.
However, the FTSE Nareit All REITs index ended last week slightly higher, with total returns up 0.4 percent, according to data collected by industry organization Nareit. And so far for the year, total returns have inched up 1.88 percent.
This index of real estate stocks also is outperforming the S&P 500 for the month and year. Returns for the S&P were down 6.27 percent as of March 28 for the month, and down 5.11 percent for the year. They also slid 1.52 percent last week.
Lodging and resort REITs are faring the worst, with returns down just under 11 percent for the month. Regional malls and data centers follow, also with returns down over 10 percent.
The REIT sectors with monthly returns in the green were: single-family homes (2.29 percent), telecommunications (5.75 percent), gaming (0.47 percent), and free-standing retail stores (0.11 percent).
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