Prologis

Equinix

American Tower

Welltower

Digital Realty Trust

Simon Property Group

Public Storage

Realty Income Corp

Crown Castle International

AvalonBay Communities

Dimensional Global Real Estate ETF

DFGR is actively managed to hold a diversified selection of US and foreign companies whose principal activities are engaged in the broad real estate sector, while focusing on REITs. Portfolio holdings are weighted by market capitalization.

American Assets

American Healthcare REIT Inc

JPMorgan BetaBuilders MSCI US REIT ETF

CIM Commercial Trust

Dimensional US Real Estate ETF

Diversified Healthcare Trust

Healthpeak Properties Inc

Empire State Realty Trust

Fidelity MSCI Real Estate ETF

Gladstone Commercial

Healthcare Realty Trust Inc

iShares Cohen & Steers REIT ETF

Iron Mountain

iShares U.S. Real Estate ETF

JPMorgan Realty Income ETF

Invesco KBW Premium Yield Equity REIT ETF

Medalist Diversified REIT Inc

National Storage Affiliates Trust

NexPoint Residential Trust

Power REIT

Regency Centers

iShares Residential Real Estate ETF

The REIT sector snapped a 5-month winning streak with a -3.42% average total return in October. Micro cap (-2.04%) and mid-cap (-2.30%) REITs averaged modest declines in October, while large caps (-3.89%) and small caps (-4.62%) were deeper in the red. 72.90% of REIT securities had a negative total return in October.

The State Of REITs: November 2024 Edition

Lennar

PotlatchDeltic

SPDR Dow Jones REIT ETF

Schwab U.S. REIT ETF

iShares Core U.S. REIT ETF

Vanguard Real Estate ETF

Weyerhaeuser

Real Estate Select Sector SPDR Fund

Residential real estate supply is limited due to construction costs relative to NOI. In 2025 and 2026, housing will be increasingly undersupplied. The undersupply should drive up property revenues until such a point that development becomes viable.

An Inflection Point In Residential Real Estate

Community Healthcare Trust

First Trust S&P REIT Index Fund

Goldman Sachs Future Real Estate And Infrastructure Equity ETF

Hudson Pacific Properties

Pacer Benchmark Industrial Real Estate SCTR ETF

Janus Henderson U.S. Real Estate ETF

NETLease Corporate Real Estate ETF

Nuveen Short-Term REIT ETF

Phillips Edison & Co Inc

US Diversified Real Estate ETF

Invesco Active US Real Estate

ALPS Active REIT ETF

REITs achieved their 5th straight month in the black with a +3.09% average total return in September and +9.61% year to date. Mid-cap (+5.01%), large cap (+3.41%) and small cap REITs (+2.59%) averaged solid gains in September. Micro caps (-0.42%) again averaged a negative total return. 72.3% of REIT securities had a positive total return in September.

The State Of REITs: October 2024 Edition

Blackstone Group

Principal Real Estate Active Opportunities ETF

Columbia Research Enhanced Real Estate ETF

iShares Environmentally Aware Real Estate ETF

Home Appreciation US REIT ETF

Innovative Industrial Properties

The REIT sector continued to recover in June with a +1.12% average total return, but closed out the first half of the year in the red (-3.86%). Micro cap REITs (-3.79%) averaged a negative total return in June, but small caps (+1.01%), mid-caps (+2.29%) and large caps (+2.88%) finished in the black. 65.58% of REIT securities had a positive total return in June.

The State Of REITs: July 2024

Summit Hotel Properties

Office Properties Income Trust

OUTFRONT Media

IQ US Real Estate Small Cap ETF

Global Self Storage

Global X SuperDividend REIT ETF

Pacer Funds Trust-Pacer Benchmark Data & Infrastructure Real Estate Sector ETF

Terreno Realty

UMH Properties

Uniti Group

After a rough start to the year, REITs partially bounced back in May with a +2.51% average total return. Small-cap REITs (-0.48%) averaged a negative return in May, but micro caps (+5.09%), large caps (+4.28%) and mid caps (+3.35%) were solidly in the black. 74.03% of REIT securities had a positive total return in May.

The State Of REITs: June 2024 Edition

Apartment Income REIT Corp

Alexander & Baldwin

Farmland Partners

Pebblebrook Hotel Trust

With a -4.27% average total return in April, REITs have now seen declines in 3 of the first 4 months of 2024. Micro caps (-2.71%) and small caps (-2.87%) averaged low single digit declines in April, while mid-caps (-5.36%) and large caps (-5.99%) performed even worse. 78.71% of REIT securities had a negative total return in April.

The State Of REITs: May 2024 Edition

Alexandria Real Estate Equities

CareTrust REIT

Franklin Street Properties Corp.

Generation Income Properties

InvenTrust Properties Corp

REITs bounced back from a rough start to the year with a strong +3.26% average total return in March. Mid cap (+5.04%), small cap (+3.90%) and large cap REITs (+2.32%) averaged gains in March, while micro caps (-0.32%) saw yet another month in the red. 78.06% of REIT securities had a positive total return in March.

The State Of REITs: April 2024 Edition

American Homes 4 Rent

Brandywine Realty

Chatham Lodging Trust

EPR Properties

Medical Properties Trust

REITs fell slightly deeper into the red in 2024 with a -0.81% total return in February. Mid cap (+1.46%) and large cap REITs (+1.04%) averaged gains in February outperforming small caps (-1.33%) and micro caps (-6.98%). Only 50.64% of REIT securities had a positive total return in February.

The State Of REITs: March 2024 Edition

Bank of America

Citigroup

CorEnergy Infrastructure Trust

Goldman Sachs

JPMorgan Chase & Co

Morgan Stanley

The REIT sector had a rough start to 2024 with a -5.72% total return in January. Large cap REITs (-4.79%) outperformed their smaller peers in January. Micro cap REITs (-8.39%) averaged the steepest declines. Only 9.55% of REIT securities had a positive total return in January.

The State Of REITs: February 2024 Edition

Kimco Realty

Pennsylvania Real Estate Investment Trust

The REIT sector closed the year out strong with a +11.40% total return in December, pushing into positive territory for the full year (+8.66%). Small cap REITs (+13.39%) outperformed in December. Large cap REITs (+9.55%) averaged a lower return than their smaller peers. 90.79% of REIT securities had a positive total return in December with 66.25% in the black for the full year.

The State Of REITs: January 2024 Edition

Extra Space Storage

REITs averaged a -5.31% total return in October and have now fallen to a double-digit negative total return year to date (-10.46%). Large cap REITs (-2.24%) outperformed their smaller peers in October. Micro caps (-11.32%) extended their streak of severe underperformance. 26.80% of REIT securities had a positive total return in October with just 25.00% in the black year to date.

The State Of REITs: November 2023 Edition

Global Net Lease

Industrial Logistics Properties

REITs averaged a -7.14% total return in September and have fallen into the red year to date. Small cap REITs (-6.51%) outperformed yet again in September. Micro caps (-10.45%) continue to severely underperform their larger REIT peers. Only 9.74% of REIT securities had a positive total return in September with 34.38% in the black year to date.

The State Of REITs: October 2023 Edition

Americold Realty

First Industrial Realty Trust

Hersha Hospitality Trust Class A

The REIT sector gave up some of the gains achieved in June and July, with a -4.13% average total return in August. Small cap REITs (-2.49%) outperformed again in August. Micro caps (-13.08%) badly underperformed their larger REIT peers. Only 18.06% of REIT securities had a positive total return in August, with 48.13% in the black year to date.

The State Of REITs: September 2023 Edition

Dimensional US Large Cap Value ETF

Dimensional Fund Advisors has announced the launch of two new exchange traded funds that offer targeted access to premiums across a diversified set of domestic large-cap value equities and a variety of U.S. and international real estate equities. Both strategies are systematic active transparent ETFs.

Dimensional Launches U.S. Large-Cap Value and Global Real Estate ETFs

News for Dimensional Global Real Estate ETF ETF (DFGR)