FTSE Nareit All REITs Index Up 1.6% in July
The total returns of the FTSE Nareit All REITs Index rose 1.6% in July, while the S&P 500 gained 1.4%. The total returns of the FTSE Nareit Mortgage REIT Index rose 2.3%, while the yield on the 10-year Treasury note was flat in July.
For the year through July 31, the FTSE Nareit All REITs Index gained 20.6% versus 20.2% for the S&P 500.
David Rodgers, senior analyst at Baird, noted that “we’re seeing really good later cycle fundamentals in both demand and supply generally. We’re on a long tail of the economy and REITs should continue to benefit.”