The State Of REITs: February 2026 Edition

2026-02-19 11:52:35 ET

REIT Performance

REITs kicked off 2025 with a solid +1.09% average total return in January. The REIT sector’s January performance was largely in line with the broader market. REITs outperformed the NASDAQ (+1.0%), but fell short of the S&P 500 (+1.4%) and Dow Jones Industrial Average (+1.8%). The market cap-weighted Vanguard Real Estate Index Fund ETF ( VNQ ) outpaced the average REIT in January (+2.61% vs. +1.09%). The spread between the 2026 FFO multiples of large-cap REITs (16.4x) and small-cap REITs (12.8x) widened in January as multiples expanded 0.5 turns for large caps and only 0.1 turns for small caps. Investors currently need to pay an average of 28.1% more for each dollar of FFO from large-cap REITs relative to small-cap REITs. In this monthly publication, I will provide REIT data on numerous metrics to help readers identify which property types and individual securities currently offer the best opportunities to achieve their investment goals....

Read the full article on Seeking Alpha

For further details see: