Research - NOVEMBER 4, 2014

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ODCE has best quarter of 2014, outperforms NPI, REITs, S&P 500

by Reg Clodfelter

The NCREIF Open-end Diversified Core Equity Index returned 3.24 percent before fees for the third quarter, making third quarter 2014 the ODCE’s strongest of the year as it outperformed NCREIF’s National Property Index (2.63 percent), the NAREIT Equity REIT Index (–2.48 percent) and the S&P 500 Index (1.13 percent).

Despite strong performances in 2014, the listed indices both suffered from bad Septembers that saw the NAREIT index and the S&P 500 lose 5.61 percent and 1.55 percent, respectively, during the month. Each has outperformed the ODCE’s one-year gross return of 12.40 percent, with NAREIT’s Equity REIT Index returning 13.18 percent and the S&P 500 returning 19.74 percent during the past 12 months.

The ODCE’s third quarter return was split

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