U.S. REITs advanced in May but remain in negative territory year-to-date. The FTSE Nareit Equity REITs Index recorded a total return of 4.6 percent in May, but is down 2.9 percent in the first five months of the year. REITs declined 7 percent in April after two months of rising total returns.
The strongest performance was recorded by telecommunications REITs, up 11 percent in May. However, the sector is down 11.1 percent year-to-date.
Healthcare REITs advanced 9.8 percent in May and are up 9.5 percent in the first five months of the year. At the beginning of the month, Healthcare Realty Trust announced a joint venture with KKR to own and invest in medical outpatient buildings.
The only sector to record a negative return in May was lodging/resorts, which declined 2.8 percent. Year-to-date, hotel
