FTSE Nareit All REITs Index Up 3.5% in May

REIT returns were higher in May as investor concern about the impact of higher interest rates on the sector receded somewhat, according to market watchers.

The total returns of the FTSE Nareit All REITs Index rose 3.5 percent in May, while the S&P 500 rose 2.4 percent. The total returns of the FTSE Nareit Mortgage REIT Index gained 2.7 percent in May.

The yield on the 10-year Treasury note dropped 0.1 percent in May.