U.S. REITs returned 3.1 percent in June, according to the FTSE Nareit Equity REIT Index, outperforming the S&P 500 Index, which rose 1.8 percent last month. In May, the FTSE Nareit Equity REIT Index was basically flat.
Retail REITs outperformed other property types in the past month — a phrase that has not gotten a lot of use in recent memory. Regional mall REITs were the best-performing property type in June, rising 15.5 percent, followed by shopping center and freestanding retail REITs, with increases of 13.0 percent and 12.3 percent, respectively. Diversified REITs, many of which have substantial retail holdings, also advanced in June, rising 10.2 percent.
The retail sector has been hammered by the COVID-19 crisis and efforts to contain the outbreak. But government-mandated shutdowns in March and April gave way to reopening in May and June. Consumer spending increased 8.2 percent
