FTSE Nareit All REITs Index Up 3.4% in August
The total returns of the FTSE Nareit All REITs Index rose 3.4% in August, outpacing the S&P 500 which dropped 1.6% during the same period. The total returns of the FTSE Nareit Mortgage REIT Index fell 6.5% last month, while the yield on the 10-year Treasury was 0.5% lower.
For the year to Aug. 30, the FTSE Nareit All REITs Index was 24.7% higher, while the S&P 500 was 18.3% higher.
Rob Stevenson, head of real estate equity research at Janney, said the performance of REIT stocks during the past month demonstrates a flight to quality.