Kwarkot
Equity REITs ended the week ~5% lower after three consecutive weeks of gain, with hardly any macro news to give optimism to the industry.
Other major indices also slipped from last week, with S&P 500 down by 1.34%, Nasdaq by ~1.5% and Dow by ~1.7%.
Comparatively, the broader real estate index fell by 3.96% and the FTSE Nareit Mortgage REITs index by 4.85%.
Most REITs continue to trade at a significant discount to their consensus net asset value estimates, according to a report by S&P Global Market Intelligence.
Hotel, retail and residential subsectors with stronger leverage ratios are trading at smaller discounts than their peers, the report noted.
Diversified and office subsectors were major laggards, having decreased by 7.14% and 6.92% on a weekly basis.
Office REITs have recently reported a dip in financial performance amid declining occupancy, another Market Intelligence report said.
Notably, Self storage and Timber subsectors decreased by only 1.90% and 2.91%, respectively.
Here is a look at the subsector performance:
More on REITs:
