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Deals & Dealmakers

REITs extend upswing with strong October numbers

Equity REITs delivered gains in October and for the first 10 months of the year.
The FTSE NAREIT All REITs Index, the broadest benchmark of the stock exchange-traded U.S. REIT industry containing both Equity and Mortgage REITs, gained 6.14 percent in October.

The FTSE NAREIT All Equity REITs Index gained 6.47 percent for the month, and the FTSE NAREIT Mortgage REITs Index fell 0.17 percent.

The S&P 500 gained 8.44 percent in October and the S&P Composite 1500, which, like the REIT market, includes large-, mid- and small-cap stocks, was up 8.01 percent.

For the year through October, the total return of the FTSE NAREIT All REITs Index was up 1.34 percent, and the FTSE NAREIT All Equity REITs Index was up 1.67 percent on a total return basis, while the FTSE NAREIT Mortgage REITs Index was down 8.06 percent. The total return of the S&P 500 was 2.70 percent for the year through October and the S&P Composite 1500 was up 0.83 percent.At the end of October, the FTSE NAREIT All REITs Index included 224 REITs with a combined equity market capitalization of $939 billion.

The FTSE EPRA/NAREIT Global Real Estate Index’s total return was 6.01 percent (based in U.S. dollars) in October, and the index delivered a dividend yield of 3.49 percent at month-end.
For the year through October, the FTSE EPRA/NAREIT Global Real Estate Index was up 0.68 percent.

The global index includes 483 companies from around the world with a combined equity market capitalization of $1.9 trillion, nearly three-quarters of which is from REITs.
The FTSE EPRA/NAREIT Europe Index continued to deliver the best performance of any region this year, with a total return of 13.19 percent for the year through October. The Americas Index was down 0.12 percent, the Middle East/Africa Index lost 0.56 percent, and the Asia/Pacific Index was down 3.84 percent.

Almost all sectors of the U.S. Equity REIT market delivered gains for investors in October.
Infrastructure led the industry with a 12.84 percent return. Among other sectors with strong October gains were regional malls, up 9.94 percent; Industrial, up 9.28 percent; and shopping centers.

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