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REITs fall 3.1% in February
U.S. REITs fell for the second consecutive month, declining 3.1 percent in February amid geopolitical tensions and concerns about rising interest rates. The S&P 500 Index fell 3.0 percent in February, and the Nasdaq Composite Index declined 3.4 percent.
The best-performing property types in February were office, rising 3.7 percent, and hotels, advancing 3.6 percent. The office sector is showing some signs of turning the corner, with fourth quarter 2021 recording the first office occupancy growth since before the pandemic began. Similarly, the lodging industry has begun to bounce back, with global hotel transaction volumes up 131 percent in 2021 from the year before