Prologis

Equinix

Welltower

Simon Property Group

Digital Realty Trust

Public Storage

Realty Income Corp

Extra Space Storage

Iron Mountain

AvalonBay Communities

JPMorgan BetaBuilders MSCI US REIT ETF

BBRE tracks a market-cap-weighted index of small-, mid-, and large-cap companies involved in the ownership or management of US real estate.

Apple Hospitality REIT

Brookfield Asset Management

CBL & Associates Properties

Cousins Properties

Direxion Daily Real Estate Bull 3x Shares

Direxion Daily Real Estate Bear 3x Shares

Fidelity MSCI Real Estate ETF

First Trust S&P REIT Index Fund

iShares Cohen & Steers REIT ETF

Innovative Industrial Properties

iShares U.S. Real Estate ETF

Nuveen Real Estate Income Fund

Invesco KBW Premium Yield Equity REIT ETF

Macerich

Neuberger Berman Real Estate Securities Income Fund Inc

US Diversified Real Estate ETF

Invesco Active US Real Estate

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

SPDR Dow Jones REIT ETF

Schwab U.S. REIT ETF

Seven Hills Realty Trust

With recent distress across office markets seizing the headlines, Mall REITs are no longer the "Problem Child" of the REIT sector, particularly after weaker players and lower-tier malls closed shop. Following three years of rental rate and occupancy declines, the supply-demand dynamic has recently favored retail landlords, rewarding many retail REITs with some long-elusive pricing power.

Mall REITs: Only The Strong Shall Survive

American Tower

Blackstone Group

Hoya Capital Housing ETF

Life Storage

Plymouth Industrial REIT

iShares Mortgage Real Estate ETF

Rexford Industrial Realty

Ryman Hospitality Properties

U.S. equity markets snapped a three-week winning streak while benchmark interest rates dipped to seven-month lows after a critical slate of employment data revealed some cracking in the long-resilient labor markets. Following its strongest weekly advance in five months, the S&P 500 finished fractionally lower this week, while the Mid-Cap 400 and Small-Cap 600 each posted steeper declines of over 2.5%.

Cracks Emerge In Jobs Market

American Homes 4 Rent

Bluerock Homes Trust Inc

Black Knight

CoStar Group

Equity Residential

Invitation Homes

Lennar

NexPoint Real Estate Finance

NexPoint Diversified Real Estate Trust

NexPoint Residential Trust

Offerpad Solutions

Opendoor

PulteGroup

One of the best-performing property sectors this year, Single-Family Rental REITs have rebounded as the previously-sluggish U.S. housing sector has shown signs of life amid a moderation in mortgage rates. The dire predictions of a "hard landing" in rental markets have been rebuffed in recent months by steadying rental rates and strong occupancy trends seen across the major rent indexes.

Single-Family Rental REITs: Renting The American Dream

Arlington Asset Investment

Crown Castle International

EPR Properties

Empire State Realty Trust

Highwoods Properties

Invesco Mortgage Capital

Medical Properties Trust

U.S. equity markets concluded a wild first-quarter with their best week of 2023 as easing contagion concerns and further evidence of cooling price pressures lifted markets to a third-straight weekly gain. Pushing its gains to 7.5% for the quarter, the S&P 500 posted its best week since last November with gains of 3.4%. The tech-heavy Nasdaq 100 climbed into "bull market".

Wild Quarter Ends With Optimism

AST SpaceMobile

Altice USA

Charter Communications

Comcast

DigitalBridge Group

DISH Network

Cell Tower REITs have been one of the weakest-performing property sectors since early 2022, an uncharacteristic stretch of poor performance following a half-decade of industry-leading returns. Concern over the long-term competitive positioning of land-based cellular networks in the ever-evolving telecommunications industry has been amplified by the accelerated rollout of satellite-based networks offering some mobile connectivity.

Cell Tower REITs: 5G's Killer App

Agree Realty

Broadstone Net Lease

Four Corners Property Trust

Global Net Lease

Gladstone Commercial

Getty Realty

One Liberty Properties

Necessity Retail REIT

Net Lease REITs - historically one of the most "rate-sensitive" property sectors - have surprisingly been the best-performing major property sector since early 2021 despite the significant rise in interest rates. Private market values have remained far "stickier" than comparable public market assets. Increases in these REITs' cost of capital has far-outpaced cap rate increases, resulting in record-low investment spreads.

Net Lease REITs: Avoiding The Winner's Curse

Ashford Hospitality Trust

Alexandria Real Estate Equities

Avantis Real Estate ETF

Boston Properties

Diversified Healthcare Trust

Franklin Street Properties Corp.

Goldman Sachs Future Real Estate And Infrastructure Equity ETF

Home Appreciation US REIT ETF

Hudson Pacific Properties

ETRACS Monthly Pay 1.5X Leveraged Mortgage REIT ETN

InfraCap REIT Preferred ETF

Paramount Group

iShares Global REIT ETF

ALPS Active REIT ETF

ETFB Green SRI REITs ETF

Global X SuperDividend REIT ETF

The REIT sector gave up most of January's big gains in February with a -6.18% total return. Small cap (-7.42%) and mid cap (-6.05%) REITs fell the furthest in February, with micro caps (-5.15%) and large caps (-4.74%) seeing smaller declines.

The State Of REITs: March 2023 Edition

iShares Residential Real Estate ETF

iShares Core U.S. REIT ETF

Vanguard Real Estate ETF

Real Estate Select Sector SPDR Fund

The two recent bank collapses could cause the Federal Reserve to take a break from raising rates, benefiting the real estate sector.

Real Estate ETFs Up as Investors Anticipate Fed Easing on Interest Rates

iShares CMBS ETF

Indus Realty Trust Inc

iShares MBS ETF

Amid intensifying concerns over the potential fallout from several major tech-focused bank failures, this report examines high-level REIT fundamentals to chart the likely path forward for the real estate industry. Real estate equities have been slammed particularly hard as investors draw parallels to the early stages of the 2008 financial crisis when locked-up credit markets created a cascade of distress.

This Time Is Different

AlerisLife

Community Healthcare Trust

CareTrust REIT

Global Medical REIT

Healthcare Realty Trust Inc

National Health Investors

Omega Healthcare Investors

For Healthcare REITs - the physical epicenter of the pandemic - the road to recovery has remained inconsistent across its distinct sub-sectors, with "private-pay" segments now showing notable improvement while "public-pay" segments relapse. Public-pay segments - Hospital and Skilled-Nursing - have seen a re-intensification of tenant operator issues amid pressure from soaring labor costs and waning government fiscal support, triggering some missed rents and lease renegotiations.

Healthcare REITs: Life After The Pandemic

BrightSpire Capital

Centerspace REIT

CubeSmart

DiamondRock Hospitality

Essex Property Trust

Franklin BSP Realty Trust Inc

Farmland Partners

Gaming and Leisure Properties

Lamar Advertising

Gladstone Land

MFA Financial

U.S. equity markets posted their worst week of the year as benchmark interest rates jumped to three-month highs on data showing a surprising reacceleration in inflation and economic activity in January. Declining for a third straight week - a skid that follows a stretch of four-of-five weekly gains to start the year - the S&P 500 dipped 2.7% while the Nasdaq declined over 3%.

Inflation Remains A Problem

Acadia Realty Trust

Bed Bath & Beyond

InnSuites Hospitality Trust

Nuveen Short-Term REIT ETF

New York City REIT Inc

Sotherly Hotels

Global X Data Center REITs & Digital Infrastructure ETF

The REIT sector sharply rebounded from a tough 2022 with an +11.77% total return in January 2023. Micro cap REITs (+16.16%) saw disproportionately strong gains in January, followed by double-digit returns for small caps (+11.79%), mid caps (+11.50%) and large caps (+10.07%).

The State Of REITs: February 2023 Edition

Arbor Realty Trust

Ares Commercial Real Estate

ARMOUR Residential REIT

Brixmor Property Group

Chimera Investment

Americold Realty

Elme Communities

Essential Properties Realty Trust Inc

Hannon Armstrong Sustainable Infrastructure Capital

Host Hotels & Resorts

Hersha Hospitality Trust Class A

Industrial Logistics Properties

U.S. equity markets were mixed on a choppy week as investors readjusted expectations for inflation and interest rates following data indicating an uptick in economic activity and persisting price pressures. Posting its first back-to-back weekly declines of the year, the S&P 500 slipped 0.2% this week, but other major benchmarks fared better. The Mid-Cap 400 and Small-Cap 600 both gained.

Risks Of 'No Landing'

ProShares UltraShort Real Estate

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

ProShares Ultra Real Estate

Virtus Real Asset Income ETF

Certain businesses are better than others at a strategic level. A good underlying strategy is essential to long-term profitability.

Determining The Viability Of A REIT's Business Model

American Assets

Armada Hoffler Properties

Brandywine Realty

City Office REIT

Douglas Emmett

Equity Commonwealth

Kilroy Realty

Orion Office REIT

Office REITs have been far-and-away the worst-performing property sector since the start of the pandemic, as depressed utilization rates and recession concerns have curbed office space demand. Work-From-Home-Forever? Occupiers due for renewal have been somewhat-reluctant to cut office space, with leasing volumes still at 75% of pre-pandemic levels, but fundamentals softened more definitively in late 2022.

Office REITs: Pain Is Priced In

AGNC Investment

Camden Property

Dynex Capital

Ellington Financial

Equity LifeStyle Properties

Summit Hotel Properties

U.S. equity markets extended their rebound this week after the Federal Reserve slowed its pace of interest rate hikes while strong employment data alongside cooling wage pressures supported "soft landing" prospects. Gaining for the fourth week in the past five, the S&P 500 advanced 1.6% while the tech-heavy Nasdaq 100 rallied 3.3% - its fourth-straight week of gains. Small caps soared 5%.

Fed Blinks, Finally

Real estate earnings season kicks into gear this week, and over the next month, we'll hear results from 175 equity REITs, 40 mortgage REITs, and dozens of housing industry companies. REITs enter earnings season with some momentum amid the recent moderation in interest rates and hopes of a 'softish' economic landing following a punishing year of stock price performance.

REIT Earnings Preview: The New Normal

D.R. Horton

Mid-America Apartment Communities

U.S. equity markets resumed their rebound this past week as investors parsed a busy slate of corporate earnings results and economic data ahead of the Federal Reserve's rate hike decision. Gaining for the third week in the past four, the S&P 500 advanced 2.5% on the week while the tech-heavy Nasdaq rallied nearly 5% - its fourth-straight week of gains.

A Softish Landing

Brunswick

Cavco Industries

Camping World Hlds

MarineMax

LCI Industries

Malibu Boats

MCBC Hlds

Manufactured Housing REITs snapped an incredible streak of nine straight years of outperformance over the REIT Index in 2022, impacted by headwinds from higher interest rates and hurricane-related disruptions. Despite their REIT-leading growth rates, Manufactured Housing ("MH") REITs have historically been among the most interest rate-sensitive sectors due to their counter-cyclical demand profile and remarkable operational consistency.

Manufactured Housing: Recession-Resistant REITs

News for JPMorgan BetaBuilders MSCI US REIT ETF ETF (BBRE)