Equinix

Public Storage

Realty Income Corp

AvalonBay Communities

Prologis

American Homes 4 Rent

Ventas

Welltower

Federal Realty Investment Trust

Janus Henderson U.S. Real Estate ETF

JRE is an actively managed fund of real-estate and real estate-related companies in the United States.

Janus Henderson U.S. Real Estate ETF returned 17.21% and the FTSE Nareit Equity REITs Index returned 16.09%. Commercial real estate company CBRE Group was a top contributor to relative outperformance, while Wyndham Hotels & Resorts detracted. With the Federal Reserve now cutting rates, we believe we are not at an inflection point for U.S. Real estate.

Janus Henderson U.S. Real Estate ETF Q3 2024 Commentary

American Healthcare REIT Inc

JPMorgan BetaBuilders MSCI US REIT ETF

Community Healthcare Trust

CIM Commercial Trust

Dimensional US Real Estate ETF

Dimensional Global Real Estate ETF

Diversified Healthcare Trust

Fidelity MSCI Real Estate ETF

First Trust S&P REIT Index Fund

Goldman Sachs Future Real Estate And Infrastructure Equity ETF

Hudson Pacific Properties

iShares Cohen & Steers REIT ETF

Pacer Benchmark Industrial Real Estate SCTR ETF

Iron Mountain

iShares U.S. Real Estate ETF

JPMorgan Realty Income ETF

Invesco KBW Premium Yield Equity REIT 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

National Storage Affiliates Trust

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

Apartment Income REIT Corp

Alexander & Baldwin

Farmland Partners

Summit Hotel Properties

Medalist Diversified REIT Inc

PotlatchDeltic

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

OUTFRONT Media

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

Brandywine Realty

Chatham Lodging Trust

Healthpeak Properties Inc

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

Office Properties Income Trust

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

American Tower

Empire State Realty Trust

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

NexPoint Residential Trust

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

Hoya Capital Housing ETF

iShares U.S. Home Construction ETF

VanEck Mortgage REIT Income ETF

Direxion Daily Homebuilders & Supplies Bull 3X Shares

Invesco Dynamic Building & Construction ETF

iShares Global REIT ETF

iShares Mortgage Real Estate ETF

iShares Residential Real Estate ETF

IQ US Real Estate Small Cap ETF

Invesco S&P 500 Equal Weight Real Estate ETF

SPDR Dow Jones REIT ETF

Schwab U.S. REIT ETF

Global X SuperDividend REIT ETF

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

iShares Core U.S. REIT ETF

Vanguard Real Estate ETF

SPDR S&P Homebuilders ETF

Real Estate Select Sector SPDR Fund

Alpine Global Premier Properties Fund

DoubleLine Commercial Real Estate ETF

First Trust Alerian Disruptive

iShares International Developed Real Estate ETF

CBRE Global Real Estate Income Fund

Invesco Real Assets ESG ETF

SPDR Dow Jones Global Real Estate ETF

SPDR Dow Jones International Real Estate ETF

Vanguard Global ex-U.S. Real Estate ETF

iShares International Developed Property ETF

The history of construction spending since 1993 reveals that this data tends to weaken prior to recessions. For a recent dip in Residential Construction attributed to the rise in mortgage rates, this indicator is charging higher.

Construction Spending Rises

Global Net Lease

Industrial Logistics Properties

Power REIT

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

Digital Realty Trust

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

InnSuites Hospitality Trust

Strategic Residential & Apartment Real Estate ETF

Hoya Capital High Dividend Yield ETF

The REIT sector followed a strong June with further gains in July, averaging a solid +4.37% total return in July. Small-cap REITs (+5.23%) continued to outperform in July. Large caps (+2.46%) underperformed their smaller REIT peers for the 3rd straight month in July. 73.72% of REIT securities had a positive total return in July with 60.63% in the black year to date.

The State Of REITs: August 2023 Edition

Host Hotels & Resorts

Gladstone Land

After 4 straight months in the red, the REIT sector surged back into the black year to date with a stellar +7.41% total return in June. Small cap REITs (+8.59%) outperformed again in June. Large caps (+5.51%) again underperformed their smaller REIT peers in June. A remarkable 87.34% of REIT securities had a positive total return in June with 49.69% in the black year to date.

The State Of REITs: July 2023 Edition

Ashford Hospitality Trust

ETFB Green SRI REITs ETF

iStar Inc

SL Green Realty

Virtus Real Asset Income ETF

WisdomTree New Economy Real Es

The REIT sector fell again in March with a -6.11% total return. Large cap (-1.99%) and mid cap (-4.56%) REITs saw modestly negative total returns in March, while small caps (-6.76%) and micro caps (-15.50%) were deeper in the red.

The State Of REITs: April 2023 Edition

Simplify Commodities Strategy No K-1 ETF

iShares iBoxx High Yield Corporate Bond ETF

Hello! This week's ETF wrap looks at real estate funds with exposure to commercial properties, an area of the market under pressure as investors worry lending is tightening after this month's stress in the banking sector.

Commercial real-estate worries weigh down property ETFs — but a ‘durable' corner holds up relatively well

If I had to distill my current macro outlook down into a sentence or two it would be “watch everything housing related”. The CPI is still showing rents rising.

3 Things I Think I Think - Housing Risks

Janus Henderson Mortgage-Backed Securities ETF

First Trust Low Duration Opportunities ETF

iShares MBS ETF

SPDR Portfolio Mortgage Backed Bond ETF

Vanguard Mortgage-Backed Securities ETF

Mortgage rates have not been this high since before the housing crisis. And while the housing market is slowing, prices are still high.

High Mortgage Rates And High Inflation

Janus Detr Strt Shs Long-Term Care

Total housing starts rose to a 1.679 million annual rate in November from a 1.502 million pace in October, an 11.8 percent increase. Starts of multifamily structures with five or more units increased 12.1 percent to 491,000 and are up a robust 39.1 percent over the past year while starts for the two- to four-family-unit segment were up 50.0 percent at a 15,000-unit pace versus 10,000 in October.

Housing Construction Performed Well In November

While most economic indicators deteriorated last year, house prices largely shrugged off the effects of the pandemic. Of the over 60 countries that enter into the IMF's Global House Price Index, three-quarters saw increases in house prices during 2020, and this trend has largely continued in countries with more recent data.

Housing Prices Continue To Soar In Many Countries Around The World

Brunswick

Cavco Industries

Camping World Hlds

Equity LifeStyle Properties

MarineMax

LCI Industries

Malibu Boats

MCBC Hlds

Patrick Industries

Despite reporting stellar results throughout the year, Manufactured Housing REITs' remarkable streak of eight straight years of outperformance over the REIT Index is suddenly in doubt entering the fourth quarter. Pressured by concerns over rising rates, inflation, and the broader rotation from growth into value, MH REITs have pulled back into "correction territory" for just the third time over the past decade.

Manufactured Housing: A Rare Opportunity

American Fin Tr Inc - Ordinary Shares - Class A

Blackstone Mortgage Trust

CyrusOne

CubeSmart

Cousins Properties

Hannon Armstrong Sustainable Infrastructure Capital

Highwoods Properties

Invesco Mortgage Capital

U.S. equity markets delivered their worst week since February - and worst month since the pandemic began - amid heightened concerns over potential stagflation, supply chain issues, and political dysfunction. Large-cap equities felt the brunt of the pressure this past week as S&P 500 slipped 2.2% while the tech-heavy Nasdaq dipped 3.6%. Mid-Caps declined 0.5% while Small Caps gained 0.9%.

September Slump, October Opportunity

Direxion Daily Real Estate Bull 3x Shares

Direxion Daily Real Estate Bear 3x Shares

Nuveen Real Estate Income Fund

Neuberger Berman Real Estate Securities Income Fund Inc

ProShares Short Real Estate

Cohen And Steers Total Return Realty Fund

Cohen & Steers Reit And Preferred Income Fund Inc

Cohen & Steers Quality Income Realty Fund

ProShares UltraShort Real Estate

ProShares Ultra Real Estate

We present the top six reasons to add REITs to your portfolio today. The lack of yield around the world and in most asset classes has made REITs and other yield alternatives a ‘hot' asset class.

REITs: This Cycle Is Just Getting Started

Global X Lithium & Battery Tech ETF

VanEck Rare Earth/Strategic Metals ETF

While concerns about the spread of the Delta variant of COVID-19 made investors jittery, a spate of upbeat corporate earnings and continued optimism bolstered risk-on trade.

5 Sector ETFs That Crushed the Market in July

News for Janus Henderson U.S. Real Estate ETF ETF (JRE)