REITs finish higher than last week, reporting more growth than S&P 500 index

Posted on November 12, 2022Comments Off on REITs finish higher than last week, reporting more growth than S&P 500 index

May Lim/iStock via Getty Images REITs finished the week of Nov. 7 at a higher value than last week’s closing price, with the quarterly earnings strong across all property sectors. Out of a total of 90 REITs that provided full-year FFO guidance, 64% raised their outlook, when compared to 48% in the case of S&P 500 companies, a report by Seeking Alpha author Hoya Capital said, citing FactSet. Meanwhile, a recent wave of REIT dividend hikes lifted the full-year total to over 120, the report noted. This week, the equity REIT index was up by 6.23%, compared to the broader S&P 500, which grew by 5.90%. Real Estate Select Sector SPDR ETF rose by 7.05% on a weekly basis. Data center REITs continued to dominate the subsector growth, with the category finishing more than 10% higher W/W. Health care and infrastructure REITs followed, having grown above 9% in value. On the other hand, diversified, retail and residential REITs, comparatively, were laggards. Diversified REITs grew the least, at 3.03% on a weekly basis.

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Comments Off on REITs finish higher than last week, reporting more growth than S&P 500 index