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Research - AUGUST 4, 2017

REITs rise 1.3% in July

by Loretta Clodfelter

U.S. equity REITs returned nearly 1.3 percent in July, according to the FTSE NAREIT All Equity REITs Index. The performance lagged the 1.9 percent return for the S&P 500 Index but compared favorably with the 0.7 percent return of the Russell 2000 Index during the month.

REITs returned nearly 2.0 percent in June, and the performance in July continues many of the themes affecting the REIT market this year.

Performance within the retail property subtypes was mixed. Shopping center REITs were the best performing of any property category, advancing 7.7 percent in July, and freestanding retail REITs returned 4.1 percent. Regional malls, however, were one of the worst-performing property categories, dropping an additional 1.9 percent in July. Year-to-date, shopping center and regional mall REITs have been the worst performers overall, down 11.7 percent and 11.1 percent, respectively.

The best-performing property types in the first seven months of the year are data centers and infrastructure, up 26.6 percent and 24.8 percent, respectively. Data center REITs turned in a strong performance in July, advancing 4.1 percent.

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