Publications

- November 1, 2014: Vol. 26, Number 10

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REIT returns go into negative territory during September

by Susan Persin

 

After experiencing strong growth in August, the FTSE NAREIT All REIT Index declined 5.63 percent during September. Monthly REIT performance was well below the Dow Jones Industrial Average (–0.32 percent), and the S&P 500 Index (–1.40 percent).

Infrastructure REITs were the best performing sector for the third consecutive month, with a total return that measured –2.11 percent. Apartments are the best performing REIT sector year-to-date with a return of 20.29 percent, although their September return of –7.51 percent made them one of the worst performing REIT sectors for the month.

Returns were negative for regional malls (–3.15 percent) and shopping centers (–6.01
percent) during September. Timber REITs remain highly volatile and dependent on the home building industry. Returns were negative 5.4 percent in July, positive 5.21 percent in August, and negative 5.93 percent in September.

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