REIT Scorecard: Last Week's Winners And Losers
Last week we reported that returns on REITs outpaced the S&P 500 through not just March, but all of Q1, despite the shuddering stock market. Let's see which of these REITs performed the best (and the worst) last week.
NexPoint Residential Trust topped the list this past week, with a whopping 6.5% rise from $13.21 to $14.07/share. The residential REIT's rise comes as SEC filings reveal that Endicott Management snagged 10,000 shares in Q4, bringing its total holdings in the REIT up to $1M.
WP Glimcher was our second-biggest winner on the week, with a 2.81% climb from $9.58 to $9.85/share. The rise comes as the retail REIT just set a date for its next earnings call—May 4, 2016.
HCP rounds out our top three with a slight 2.6% rise from $33.15 to $34.04/share on the week. Despite the healthcare REIT's strong performance for the week, the majority of analysts recommend a "hold" on the stock.
Our biggest loser for the week dropped a whopping 11.2% from $6.21 to $5.51/share. Analysts gave the lodging REIT a higher rating after the slump this week, with a target price of $7.31 from Zacks Research.
RAIT Financial Trust had a down week as well, dropping 8.5% from $3.04 to $2.78/share. The mortgage REIT, despite its drop this week, has a consensus target price from Zacks Research of $3.27/share.
Ashford Hospitality REIT rounds out our three losers, although its fall isn't quite as bad as parent company Ashford Hospitality Trust. The lodging REIT fell 6.84% from $11.69 to $10.89/share after its board decided against a sale despite receiving multiple suitors.
