NEW YORK CITY-The Morgan Stanley REIT Index (RMS) closed on Thursday at 364.2, up 2.9% from the previous Thursday, outperforming the Dow Jones Industrial Average, the Nasdaq and the S&P 500. It continued to outperform these indices on Friday, rising 0.6% while the Dow and the S&P turned in increases of 0.2% and 0.6%, respectively, and the Nasdag slipped 0.4%, according to the weekly Bear Stearns REIT Monitor.

Net outflows for dedicated real estate mutual funds totaled $11 million for the week ending Feb. 28, although, due to price appreciation, assets grew a little to $10.5 billion. The 30-day average trading volume for these funds is 16.6 million shares, 13% above the 14.7 million shares that changed hands last week. The spread over the 10-year Treasury moved from 220 to 226 basis points last week while the spread over the S&P 500 tightened to 588 bps, down from 609 bps the week before.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.