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November 03, 2010 at 11:38 AM
Building on previous momentum, REITs continued their strong rally through October, according to the National Association of Real Estate Investment Trusts (NAREIT). The trade group reports REIT total returns year-to-date through Oct. 31 were triple those of the broader market for the same period.
The total return of the FTSE NAREIT Equity REIT Index was 24.7% and the total return of the FTSE NAREIT All REITs Index was 23.9% for the first 10 months of the year compared to 7.84% for the S&P 500. In October, the FTSE NAREIT Equity REITs Index gained 4.7% and the FTSE NAREIT All REITs Index gained 4.56%, compared to 3.8% for the S&P 500.
On a year-to-date basis through Oct. 31, all but one sector of the REIT market delivered double-digit returns. Among the top performing sectors:
- Apartments (up 38%)
- Lodging/Resorts (up 30.52%)
- Shopping Centers (up 28.28%)
On a 1-year basis through Oct. 31, the FTSE NAREIT Equity REIT Index delivered a total return of 42.84% and the FTSE NAREIT All REITs Index delivered a return of 40.88% compared to 16.52% for the S&P 500.
