Global Net Lease

Gladstone Commercial

Global Medical REIT

Service Properties Trust

OUTFRONT Media

Sabra Health Care

Easterly Government Properties

Apple Hospitality REIT

Healthcare Realty Trust Inc

Omega Healthcare Investors

Invesco KBW Premium Yield Equity REIT ETF

KBWY tracks a dividend-yield-weighted index of small- and mid-cap equity REITs.

A smart beta exchange traded fund, the Invesco KBW Premium Yield Equity REIT ETF (KBWY) debuted on 12/02/2010, and offers broad exposure to the Real Estate ETFs category of the market.

Is Invesco KBW Premium Yield Equity REIT ETF (KBWY) a Strong ETF Right Now?

American Healthcare REIT Inc

JPMorgan BetaBuilders MSCI US REIT ETF

CBL & Associates Properties

Direxion Daily Real Estate Bull 3x Shares

Direxion Daily Real Estate Bear 3x Shares

EastGroup Properties

Fidelity MSCI Real Estate ETF

First Trust S&P REIT Index Fund

Hudson Pacific Properties

iShares Cohen & Steers REIT ETF

iShares U.S. Real Estate ETF

Nuveen Real Estate Income Fund

Neuberger Berman Real Estate Securities Income Fund Inc

Park Hotels & Resorts

US Diversified Real Estate ETF

Invesco Active US Real Estate

ALPS Active REIT ETF

ProShares Short Real Estate

Rexford Industrial Realty

Cohen And Steers Total Return Realty Fund

Cohen & Steers Reit And Preferred Income Fund Inc

Cohen & Steers Quality Income Realty Fund

SPDR Dow Jones REIT ETF

U.S. equity markets posted their worst week in two months as benchmark interest rates jumped to four-month highs after a critical slate of inflation data showed modestly firming price pressures. Fueling bets that the Federal Reserve may have to slow the pace of policy easing, the Consumer Price Index and Producer Price Index each posted fractional upside surprises in October. After surging nearly 5% last week en route to fresh record highs, the S&P 500 dipped 2.1% on the week, with healthcare and technology stocks under particularly sharp pressure.

Firming Inflation Fizzles Optimism

American Homes 4 Rent

American Tower

Curbline Properties Corp.

Generation Income Properties

Invitation Homes

JBG SMITH Properties

Medical Properties Trust

Office Properties Income Trust

Paramount Group

Five US real estate investment trusts have suspended dividends so far this year, while six other REITs have lowered regular dividend payouts. The activity contrasts with the more than one-third of the US REIT industry that have raised dividends during the first three quarters of 2024. Shopping center landlord SITE Centers Corp. was the most recent addition to the list of REITs that suspended dividends this year.

5 U.S. REITs Suspend Dividends Amid 2024 Cuts

Invesco Senior Loan ETF

Global X SuperDividend US ETF

SPDR R Blackstone High Income ETF

JPMorgan Equity Premium Income ETF

Invesco S&P SmallCap High Dividend Low Volatility ETF

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Dividend ETFs that Pay You Monthly

Community Healthcare Trust

CIM Commercial Trust

Dimensional US Real Estate ETF

Dimensional Global Real Estate ETF

Diversified Healthcare Trust

Goldman Sachs Future Real Estate And Infrastructure Equity ETF

Pacer Benchmark Industrial Real Estate SCTR ETF

Iron Mountain

JPMorgan Realty Income ETF

Janus Henderson U.S. Real Estate ETF

NETLease Corporate Real Estate ETF

Nuveen Short-Term REIT ETF

Phillips Edison & Co Inc

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

Agree Realty

Getty Realty

Independence Realty Trust

NETSTREIT Corp

RLJ Lodging Trust

Average REIT short interest fell 8 basis points in September to 3.7% of shares outstanding, per S&P Global Market Intelligence data. The hotel sector followed with a 60-basis point drop, while the office sector remained the most-shorted at 5.3% of shares outstanding. Wheeler Real Estate Investment Trust logged the largest increase in short interest, up 16 percentage points to 32.4% of shares outstanding.

U.S. REITs Log Dip In Short Interest In September

For investors hungry for a nice raise in their passive income, the higher-yielding dividend exchange-traded funds (ETFs) may be worth a closer look.

Top 2 Highest Yielding Dividend ETFs To Buy

Arbor Realty Trust

AvalonBay Communities

First Industrial Realty Trust

Kite Realty Group

National Health Investors

Prologis

Plymouth Industrial REIT

U.S. equity markets extended gains to a fifth-straight week despite a continued upswell in benchmark interest rates, as investors weighed a solid start to earnings season against lukewarm inflation data. All eyes were on the Consumer Price Index report, which posted a fractional upside surprise in September for a second-straight month, which followed four straight months of cooler-than-expected reports. Bond markets remained under pressure as buoyant labor market data last week and lukewarm inflation data this week has prompted investors to re-think the prospects of aggressive Fed rate cuts.

Rate Cut Rethink

Schwab U.S. REIT ETF

Seven Hills Realty Trust

ProShares UltraShort Real Estate

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

ProShares Ultra Real Estate

iShares Core U.S. REIT ETF

Vanguard Real Estate ETF

Public REITs have benefited from a great rotation within equity markets since the end of June, with U.S. REITs returning 13.2% vs. S&P 500 3.7%. Clear evidence of a growth slowdown and moderating inflation has increased the market's conviction Fed rate cuts are imminent. REITs in sectors such as senior housing, single-family rental, cold warehouse storage, and wireless towers are a compelling opportunity with visible, defensive cash flows that offer attractive growth under a variety of economic outcomes.

Perspectives: Listed REITs - Fall Edition

Alpine Global Premier Properties Fund

Cambria Global Real Estate ETF

Xtrackers California Municipal Bond ETF

FlexShares Global Quality Real Estate Index Fund

Home Appreciation US REIT ETF

Xtrackers International Real Estate ETF

Hoya Capital Housing ETF

iShares International Developed Real Estate ETF

CBRE Global Real Estate Income Fund

IREIT - Marketvector Quality REIT Index ETF

iShares U.S. Home Construction ETF

VanEck Mortgage REIT Income ETF

Direxion Daily Homebuilders & Supplies Bull 3X Shares

InfraCap REIT Preferred ETF

For income-focused investors willing to venture outside the United States, Canadian REITs offer appealing qualities as a potential portfolio diversifier alongside their larger and more established U.S. peers. Canadian REITs, on average, offer higher monthly dividend yields and trade at lower P/FFO multiples compared to their U.S. counterparts, but typically have weaker balance sheets with higher debt ratios. In this report, we take a quick look at 30 Canadian REITs and break down the industry on a sector-by-sector level. We also take a deep dive into H&R REIT.

Canadian REITs: Higher Yield Up North

KBWY: Small And Mid-Cap REIT Yield Makes Sense Now

REITs have outperformed the broader market since early July, prompting a valuation check to ensure they haven't become overvalued. Using a bottom-up methodology, REITs trade at a market cap weighted AFFO multiple of 19.87X, cheaper than the S&P's 21.0X forward P/E. REITs offer higher revenue growth and profit margins compared to the S&P, positioning them for potential outperformance.

REITs Are Still Undervalued Despite Recent Outperformance

Over 200 U.S. REITs and homebuilders have reported second-quarter earnings results over the past six weeks, providing critical information on the state of the commercial and residential real estate industry. In this report, we highlight some quick incremental positives and negatives we've observed across each of the major property sectors. Next week, we'll publish our detailed "Winners & Losers" Report. Of the 96 equity REITs that provide full-year FFO guidance, 57 (59%) raised their outlook, while 13 (14%) lowered - well above the historical second-quarter average "raise rate" of 40-45%.

The REIT Comeback: Earnings Recap

We're at the halfway point of another consequential real estate earnings season, with 75 of the roughly 150 equity REITs and 19 of 38 mortgage REITs now having reported results. Amid an otherwise underwhelming earnings season across the broader equity market, REIT earnings results thus far have been materially better than anticipated, providing an added tailwind to rate-related optimism. Of the 65 equity REITs that have provided full-year guidance for Funds from Operations ("FFO"), 44 (68%) have raised their full-year outlook, while just 6 (8%) have lowered their outlook.

REIT Earnings Halftime Report

Industrial Logistics Properties

Realty Income Corp

iStar Inc

REITs are surging in value right now. Some REITs have a lot more upside potential than others. Here are three types of REITs that will soar.

3 REIT Types Poised To Soar

Blackstone Group

Principal Real Estate Active Opportunities ETF

Columbia Research Enhanced Real Estate ETF

iShares Environmentally Aware Real Estate 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

Ashford Hospitality Trust

Bally's

Boston Properties

Equity LifeStyle Properties

Gaming and Leisure Properties

Kilroy Realty

GRIFFIN RLTY TRUST INC

U.S. equity markets climbed to record highs, while benchmark interest rates dipped to four-month lows as investors rotated from high-flying growth stocks into beaten-down value names following a cooler-than-expected CPI report. Headline CPI declined 0.1% month-over-month, which dragged the annual increase to below 3% for the first time since March 2021, while CPI ex-Shelter is again below the Fed's 2% target. Combined with recent softness in employment data and relatively dovish Fed commentary, markets now see at least two Fed rate cuts this year, with September now viewed as a near-lock.

REITs Rip As Rates Retreat

Virtus Real Asset Income ETF

Rate cuts have finally arrived, but why hasn't it benefitted REITs? What's needed to lift the REITs market. Why REITs are still struggling.

Why More Rate Cuts May Be Needed To Help Lift REITs

Summit Hotel Properties

Power REIT

iShares Residential Real Estate ETF

IQ US Real Estate Small Cap ETF

Global Self Storage

Global X SuperDividend REIT 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

Invesco KBW Premium Yield Equity REIT ETF (KBWY) is a strong sell due to unsustainable high dividend payout ratios and poor growth characteristics for its REIT holdings. While KBWY offers a high 8.87% yield, its methodology for selecting REITs based on the highest dividend yield has led to low-quality holdings and reduced REIT-type diversification. REITs historically experienced strong performance at the end of Federal Reserve tightening, which may be on the horizon as interest rates are reduced.

KBWY: Continued Risk For Dividend Cuts And Share Price Decline

U.S. equity markets posted mixed performance as investors parsed a perplexing slate of employment data, showing clear signs of cooling across essentially all metrics except for the "headline" payrolls print. The BLS reported that the U.S. economy added a robust 272k jobs in May, but prior months were revised substantially lower while the twin Household Survey showed a half-million job losses. The conflicting - and perhaps erroneous - employment data delayed the expected timeline for the Federal Reserve's rate-cutting cycle, while also raising the prospects of a data-driven policy error.

Jobs Data Dilemma

ARMOUR Residential REIT

Chatham Lodging Trust

iShares CMBS ETF

Camden Property

CTO Realty Growth

Douglas Emmett

Ellington Financial

Equity Residential

Franklin Street Properties Corp.

Host Hotels & Resorts

InvenTrust Properties Corp

iShares MBS ETF

AG Mortgage Investment Trust

Alpine Income Property Trust

Strawberry Fields REIT Ltd

Real Estate Select Sector SPDR Fund

U.S. equity and bond markets staged a late-week rebound, erasing early-week declines prompted by disappointing Eurozone inflation data, after the crucial PCE inflation gauge posted its smallest increase of 2024. Posting a second week of modest declines following four-straight weekly gains, the S&P 500 finished lower by 0.4% on the week, but still notched its best month since February. Real estate equities also rebounded following steep declines in the prior week as a handful of REITs provided positive business updates ahead of the annual REITweek industry conference.

Eyes On The ECB

SBA Communications

REITs are historically cheap right now. They also offer significant tax benefits. Here are 8 REIT tax advantages that are underappreciated.

8 Surprising Reasons REITs Will Save You Big On Taxes

Brixmor Property Group

Equinix

Macerich

National Retail Properties

Pebblebrook Hotel Trust

PennyMac Mortgage Investment

U.S. equity markets snapped a four-week winning streak while benchmark interest rates rebounded as hopes for imminent major central bank monetary easing were curtailed by stubbornly hot U.K. inflation data. Still hovering around all-time highs, the S&P 500 finished fractionally lower, but tech stocks were led higher by chip giant Nvidia on the heels of an impressive "AI-enhanced" earnings report. Halting a four-week rebound and continuing to be swung around by rate movements, real estate equities fell sharply this week as benchmark rates rebounded from one-month lows.

Rally Gets Reality Check

REIT FFO/share growth in 2023 was stalled due to increased insurance premiums and property taxes. Property taxes jumped from $170B to almost $200B in 2023, while insurance costs doubled as a percentage of revenue. Higher insurance premiums reduced FFO margins by nearly 100 basis points, impacting FFO/share growth.

Why REIT's Didn't Grow In 2023

News for Invesco KBW Premium Yield Equity REIT ETF ETF (KBWY)