NETL - REITs continue downward trajectory while broader markets gain

2023-07-29 12:00:00 ET

REITs continued on their downward trajectory for the second consecutive week, while the broader markets kept up their gaining trend.

While the broader markets gained on the back of solid quarterly results by big names and a cooler inflation data, REITs saw sentiments drop, considering the Federal Reserve's 25 basis points rate hike .

The FTSE Nareit All Equity REITs finished the week 1.51% lower, while S&P 500 rose 1.01%.

The Dow Jones Equity All REIT Total Return Index declined by 1.52%.

Comparatively, the real estate index was down 1.84% from last week, and the mortgage REITs index increased by 1.39%.

Residential was the biggest loser of the week, having declined by 4.21%. Self storage REITs followed, having decreased 3.66% in value.

Office REITs were surprise winners, having gained 3.34% of value.

Here is a look at the subsector performance:

More on REITs:

The State Of REITs: July 2023 Edition

3 Dividend Stocks That Pay You Every Month

Sell Alert: 3 REITs Getting Risky

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