GREI - The State Of REITs: December 2022 Edition

Summary

• The REIT sector achieved back-to-back months of gains for the first time in 2022, with a +3.33% total return in November.
• Large-cap (+5.95%), mid-cap (+5.14%), and small-cap (+3.40%) REITs all continued their recovery in November, but micro-caps (-6.57%) fell further into the red.
• 72.84% of REIT securities had a positive total return in November.
• Data Center (+14.40%) and Infrastructure (+12.56%) outperformed all other REIT property types in November. Hotel (-4.38%), Self-Storage (-3.01%), Malls (-1.50%), and Land (-1.04%) REITs were the only property types to average a negative total return.
• The average REIT NAV discount narrowed from -24.26% to -19.60% during November. The median NAV discount also narrowed from -22.91% to -17.94%.

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