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In the latest edition of Quick Study, Brad Case, NAREIT’s senior vice president for research and industry information, said that REIT shares continued to decline in October, but added that economic fundamentals continue to support the sector.
In the latest edition of Quick Study, Brad Case, NAREIT’s senior vice president for research and industry information, said that despite market weakness in October, economic fundamentals continue to support the sector.
The total returns of the FTSE/NAREIT All REIT Index dropped 4.9 percent in October, while the S&P 500 index lost 1.8 percent.
“It was a very poor month in October,” Case observed. “The last three months have been weak for investors in all segments of the equity markets,” he added.
REITs posted gains in October, supported by positive third quarter earnings reports and the Federal Reserve’s decision to keep interest rates unchanged, according to market watchers.
The total returns of the FTSE/NAREIT All REIT Index rose 6.1 percent in October, while the S&P 500 Index gained 8.4 percent. The yield on the 10-year Treasury note was up 0.1 percent for the month. Through the end of October, REIT total returns for 2015 were up 1.3 percent, while the S&P 500 Index was up 2.7 percent.
In the latest edition of Quick Study, Brad Case, NAREIT’s senior vice president for research and industry information, noted that REITs continued to outperform the broader stock market during October with solid gains across most property types.
“It was another very strong month,” Case said. The FTSE NAREIT All REITs Index had a total return of 8.7 percent in October. The S&P 500 Index gained 2.4 percent for the month. Looking at year-to-date data, Case pointed out that while the S&P 500 has gained about 11 percent, REIT returns are close to 23 percent.
REITs made gains in October and continued to outperform the broader stock market, supported by solid earnings reports and growing momentum in the economy.
The total return on the FTSE NAREIT All REITs Index was up 8.7 percent for the month after dropping 5.6 percent in September. The S&P 500 Index rose 2.4 percent in October. As of the end of October, the FTSE NAREIT All REITs Index had gained 23 percent, while the S&P 500 was up 11 percent.