Real Estate - APRIL 29, 2021

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NAV REITs continue to outperform their traded counterparts

by Robert A Stanger & Company, Inc.

Overall, both listed and nonlisted REITs made gains in the first quarter, as markets continue their recovery from the heavy toll that COVID-19 took on real estate securities in first-quarter 2020, reported Robert A Stanger & Company, Inc.

A strong stock market lifted the return of the MSCI US REIT Index Gross Total Return (RMS G) by 8.76 percent in the first quarter, and the RMS G has now returned to its pre-COVID level. Over the last 60 months, the total return of this broader REIT market index was 29.6 percent. Net Asset Value (NAV) REITs posted a strong 3.52 percent return for the quarter, as measured by the Stanger NAV REIT Total Return Index. The Stanger NAV REIT Index recovered to its pre-pandemic level during the third quarter of 2020 and is now at a record high. NAV REITs continue to post steady gains, well outpacing their traded counterparts with a cumulative total return of 42.1 percent over the last 60 months.

“The performance highlights the benefits o

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