Magazine article Mortgage Banking

Reits Holding Their Own in First Quarter

Magazine article Mortgage Banking

Reits Holding Their Own in First Quarter

Article excerpt

ACCORDING TO SNL SECURITIES LG, CHARlottesville, Virginia, investors continued to shift their capital among real estate investment trust (REIT) sectors during the first quarter of 2001 while the broader markets continued their declines. Overall, the SNL All Equity REIT index is up 0.6 percent for the quarter, while the Russell 2000 is down 6.5 percent and the S&P 500 is down 11.8 percent. The biggest gainer among property types was the health-care sector, up 23.5 percent, compared with a 0.3 percent decline for the fourth quarter of 2000 and a 7.0 percent drop in the year-ago quarter. The self-storage group did well across the board, having recorded a gain of 9.2 percent for the quarter. Retail REITs also gained from a bit of bounce-back in investor sentiment, although longer-term concerns persist, particularly for the lower end of the enclosed-mall sector. In the intermediate term, retail REITs, which last year derived 2. …

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