DECEMBER 11, 2013

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REITs struggle through tough November, healthcare hit hardest

by Reg Clodfelter

After a two-month stretch of encouraging growth following a rough summer, the strong volatility continued in the REIT market as November saw the FTSE NAREIT All Equity REITs index return –4.87 percent. The tough month brings the year-to-date returns for the index down to 2.26 percent, leaving it well behind the year-to-date returns for the Nasdaq Composite Index (36.11 percent) and the S&P 500 Index (29.12 percent), as of Nov. 30. It is a bad sign after some hoped that a strong October would lead to the index’s first quarter with net positive growth since the initial quarter of this year.

Losses were across the board in November, as every property sector in the index posted negative returns. By year’s end, the 2013 return numbers for the index will likely be well short of the 2012 total of 19.70 percent. Some believe that the low numbers from the month of November are caused by speculation that, with the continued signs of improvement for the U.S.

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