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Equity REITs strengthened in January, up more than 10%
Equity REITs advanced 10.7 percent in January, according to the FTSE Nareit Equity REITs Index, amid a broad-based stock market recovery. The S&P 500 Index rose 6.3 percent in January, and the tech-heavy Nasdaq Composite increased 10.7 percent.
REITs declined by about 25 percent in 2022, but many industry experts believe they are well positioned to perform strongly in 2023.
“Despite the macroeconomic and geopolitical stress points dominating the headlines, our outlook for the global commercial real estate market continues to be constructive,” noted Andrew Duffy, CIO and Senior Portfolio Manager with Ranger Global Real Estate Advisors, LLC, in an interview with IREI. “Real estate fundamentals and earnings growth remain strong amidst an environment characterized by low supply in many sectors, paired with high construction costs. While global capital markets continue to experience periods of fixation on non-fundamental factors, we believe that REITs are well-pos