REIT Replay: REIT share prices rise with broader market in week ended May 2

Share prices for US equity real estate investment trusts increased alongside the broader market during the week ended May 2.

The Dow Jones Equity All REIT index closed the recent week up 3.31%, compared with a 2.92% increase for the S&P 500 and a 3.00% gain for the Dow Jones Industrial Average.

All of the Dow Jones US real estate property sector indexes logged increases over the past week. The self-storage REIT index jumped 5.63% during the week, the largest increase of the group. The apartment index ranked second with an increase of 4.75%. The office REIT index logged the smallest gain during the week, up a very slight 0.13%, followed by the healthcare REIT index with a 0.86% increase.

Industrial REIT Industrial Logistics Properties Trust saw the largest share-price increase among all US REITs with at least $200 million in market capitalization, up 16.29%. Hotel REIT Summit Hotel Properties Inc. and data storage-focused Iron Mountain Inc. ranked next with share-price gains of 9.55% and 9.17%, respectively.

Conversely, industrial REIT Lineage Inc. ended the week with the largest share-price decline, down 18.93%. Outlet center-focused Tanger Inc. followed next with a share-price drop of 7.01%, while Postal Realty Trust Inc., which primarily leases properties to the US Postal Service, logged the third-largest decline at 3.71%.