U.S. real estate investment trusts’ total returns continued to outpace those of broader equity markets through Nov. 30, according to the National Association of Real Estate Investment Trusts. On a total return basis, the FTSE NAREIT All REITs Index gained 2.6 percent and the FTSE NAREIT All Equity REITs Index was up 3.3 percent, while the S&P 500 increased 1.1 percent for the same period.
Property sector REIT performance logged major changes for both year-to-date and 12-month trailing results. On a year-to-date basis, self storage was the top performer with a 31.6 percent total return followed by multifamily, which delivered an 8.8 percent return. In addition, retail REITs increased 8.1 percent thanks in part to regional malls, which were up 17.2 percent. The office sector was down 4.4 percent and industrial REITs dropped 9.2 percent.
On a 12-month basis, self storage was also the top-performing market sector with a total return of 40.0 percent, followed by apartments (13.5 percent), retail (11.5 percent), and office (0.1 percent). The industrial sector finished the period down by 0.2 percent.