REITs rise 5.8% in November

REITs rose nearly 5.8 percent in November, according to the FTSE Nareit Equity REITs Index, for the second consecutive month of gains. Despite the strong performances in November and October, which saw a gain of 4.9 percent, REITs continue to be in the red for the year. The FTSE Nareit Equity REITs Index is down nearly 20.3 percent year-to-date.

REITs’ rise comes amid a broader equity market comeback. The S&P 500 Index rose 5.6 percent in November but has returned –13.1 percent year-to-date, while the Nasdaq Composite Index advanced 4.5 percent in November but has returned –26.1 percent year-to-date.

The strongest performance was recorded by data center REITs, which advanced 18.8 percent in November. Total data center inventory in the United States is up 20 percent year-over-year, as of the third quarter, accor