Publicly-Traded REITs Tread Water in March; Remain Up for the Year

April 10, 2023 | David Bodamer | WealthManagement.com

The Nareit All Equity REIT Index was down 1.7% in March with office REITs (down 15.32%) suffering the worst declines. Several segments including infrastructure (up 2.7%), data centers (up 2.1%), self storage (up 1.9 percent) and industrial (up 1.2%) eked out gains. And for the year the index remained up 1.7 percent, as of the end of March.

The issues facing regional banks have also led to some concerns about the state of commercial real estate capital markets. Mortgage REITs were down 8.5% in March with home financing REITs down 6.4% and commercial financing REITs down 11.6%. Both segments are also in negative territory for the year, down 1.6% and 4.6%, respectively.

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