REIT Scorecard: Last Week's Winners And Losers
Last week saw the retail sector tumble as some Fed officials made the case for June rate hikes—here's our breakdown of how the REIT sector did amid this noise.
Monday Open: $12.99/share
Friday Close: $13.95/share
Change: 7%
Invesco's mortgage REIT was our biggest winner for the week, as it was buoyed along with the rest of the sector. Mortgage REITs have seen a 22% climb since the early-year market turmoil, but are still 17% below last year's price levels.
Monday Open: $11.33/shares
Friday Close: $12.11/shares
Change: 6.8%
Shorts on Bluerock decreased 5% over last week, down from 597,900 to 567,800 shares. The residential REIT continues to be one of the better stocks for monthly dividends.
Monday Open: $9.24/shares
Friday Close: $9.71/shares
Change: 5%
iStar (CEO Jay Sugarman, pictured) rounds out our top three this week, after coming off the "loser's" list last week. Over the last year, the REIT has traded between $7.59/share and $14.77/share.
Monday Open: $12.18/share
Friday Close: $10.95/share
Change: -10%
CBL (CEO Stephen D. Lebovitz, pictured) saw a steady drop this week, with most of its 10% fall coming on Wednesday and Thursday. Work on a 25k SF expansion to the REIT's 330k SF Wisconsin shopping center just got underway.
Monday Open: $11.24/share
Friday Close: $10.26/share
Change: -8.7%
WP Glimcher's fall on the week came alongside a 8.14% increase in shorted shares, up to 2.74 million from 2.53 million. Some analysts expect the REIT's shares to hit $9.33 over the next year.
Monday Open: $210.82/share
Friday Close: $196.49/share
Change: -6.8%
The largest retail REIT (CEO David Simon, pictured) had a poor showing this past week—along with the retail sector as a whole, as Macy's, Kohl's and others saw their stocks sinking. Still, despite the retail headwinds, Simon Property Group saw a 52-week high last week.
