Data as of the October 19, 2026 close. Every figure on this page is checked against at least two independent sources, or two separate SEC filings, before it is published. How we verify data.
The Federal Reserve raised its benchmark rate on September 16, 2026, its first increase since 2023. From the September 15, 2026 close, the day before the decision, through October 19, 2026, the median listed REIT moved -6.7% and 22 of 153 rose. The 10-year Treasury yield went from 5.00% to 5.12%.
By Sector
| # | Sector | REITs | Median change |
|---|---|---|---|
| 1 | Hotels | 13 | +8.6% |
| 2 | Infrastructure | 3 | +3.0% |
| 3 | Self-Storage | 5 | -0.3% |
| 4 | Specialty | 5 | -0.4% |
| 5 | Data Center | 2 | -3.3% |
| 6 | Residential | 13 | -3.4% |
| 7 | Retail | 18 | -4.9% |
| 8 | Industrial | 10 | -5.5% |
| 9 | Gaming | 2 | -5.6% |
| 10 | Healthcare | 15 | -6.6% |
| 11 | Farmland | 2 | -6.8% |
| 12 | Net Lease | 16 | -7.7% |
| 13 | Office | 17 | -8.6% |
| 14 | Timber | 2 | -11.2% |
| 15 | Mortgage | 30 | -19.5% |
Held Up Best
| # | REIT | Ticker | Sector | Since Sept. 15 | Typical move per 0.25-point rise in the 10-year yield | Grade |
|---|---|---|---|---|---|---|
| 1 | Summit Hotel Properties | INN | Hotels | +16.0% | -4.3% | C 62 |
| 2 | Apple Hospitality REIT | APLE | Hotels | +11.4% | -2.2% | B 72 |
| 3 | Crown Castle | CCI | Infrastructure | +10.7% | -5.5% | C 62 |
| 4 | Pebblebrook Hotel Trust | PEB | Hotels | +10.5% | -3.5% | C 57 |
| 5 | Xenia Hotels & Resorts | XHR | Hotels | +9.6% | -3.1% | C 65 |
| 6 | Host Hotels & Resorts | HST | Hotels | +9.3% | -1.9% | B 78 |
| 7 | Empire State Realty Trust | ESRT | Office | +9.0% | -3.4% | C 65 |
| 8 | Sunstone Hotel Investors | SHO | Hotels | +8.9% | -1.7% | C 67 |
| 9 | DiamondRock Hospitality | DRH | Hotels | +8.6% | -3.1% | C 65 |
| 10 | OUTFRONT Media | OUT | Specialty | +8.1% | -4.3% | C 58 |
| 11 | Chatham Lodging Trust | CLDT | Hotels | +7.3% | -2.5% | C 56 |
| 12 | RLJ Lodging Trust | RLJ | Hotels | +6.8% | -1.7% | C 63 |
| 13 | Park Hotels & Resorts | PK | Hotels | +5.8% | -2.5% | C 60 |
| 14 | Ryman Hospitality Properties | RHP | Hotels | +5.1% | -2.6% | B 75 |
| 15 | SmartStop Self Storage REIT | SMA | Self-Storage | +4.8% | -4.3% | C 60 |
Fell the Most
| # | REIT | Ticker | Sector | Since Sept. 15 | Typical move per 0.25-point rise in the 10-year yield | Grade |
|---|---|---|---|---|---|---|
| 1 | Granite Point Mortgage Trust | GPMT | Mortgage | -45.9% | +0.7% | D 36 |
| 2 | Uniti Group | UNIT | Specialty | -44.4% | -1.2% | n/a |
| 3 | Arbor Realty Trust | ABR | Mortgage | -40.9% | -6.0% | D 41 |
| 4 | Ashford Hospitality Trust | AHT | Hotels | -38.5% | +2.5% | D 30 |
| 5 | Ready Capital | RC | Mortgage | -27.5% | -4.9% | D 33 |
| 6 | Redwood Trust | RWT | Mortgage | -25.3% | -7.2% | C 58 |
| 7 | Chimera Investment | CIM | Mortgage | -25.2% | -5.1% | C 55 |
| 8 | PennyMac Mortgage Investment Trust | PMT | Mortgage | -24.8% | -4.4% | C 56 |
| 9 | MFA Financial | MFA | Mortgage | -24.0% | -3.3% | C 57 |
| 10 | Franklin BSP Realty Trust | FBRT | Mortgage | -23.8% | -1.8% | D 48 |
| 11 | Office Properties Income Trust | OPI | Office | -23.7% | n/a | n/a |
| 12 | Ares Commercial Real Estate | ACRE | Mortgage | -23.3% | -4.9% | D 43 |
| 13 | Alexandria Real Estate Equities | ARE | Office | -23.2% | -4.7% | C 58 |
| 14 | Blackstone Mortgage Trust | BXMT | Mortgage | -22.9% | -2.7% | D 54 |
| 15 | Orchid Island Capital | ORC | Mortgage | -21.7% | -2.9% | D 35 |
Excluded: REITs in liquidation, wind-down or with suspended dividends (Apartment Investment and Management, Apollo Commercial Real Estate Finance, Braemar Hotels & Resorts, Elme Communities, Franklin Street Properties, Piedmont Office Realty Trust, SITE Centers), because returning capital to shareholders moves their share prices for reasons unrelated to the market.
How This List Is Built
Price change from the September 15, 2026 close to the latest close, computed separately from Nasdaq and Cboe records and published only when both agree. The rate-sensitivity column is measured over the past year and explained on our rate sensitivity page.
Frequently Asked Questions
How did REITs react to the September 2026 rate hike?
The median listed REIT moved -6.7% from the September 15, 2026 close through October 19, 2026, and 22 of 153 REITs rose.
Which REIT sector held up best after the hike?
Hotels, with a median move of +8.6%.
Which REIT fell the most after the rate hike?
Granite Point Mortgage Trust (GPMT), down 45.9% since September 15, 2026.
Which REIT gained the most since the rate hike?
Summit Hotel Properties (INN), +16.0% since September 15, 2026.
Will REITs keep falling if the Fed raises again?
Markets expect at least one more increase this year, but REIT prices respond to the 10-year Treasury yield more than to the Fed’s short-term rate. If long-term yields stop rising, rate-sensitive REITs have historically recovered. That is history, not a forecast.
Related Pages
Least rate-sensitive REITs · REITs and interest rates · REIT sector performance 2026 · REITs near 52-week lows
REIT Rankings publishes data and grades, not investment advice. Nothing on this page is a recommendation to buy, sell or hold any security. Do your own research or consult a licensed advisor.