CHARLOTTESVILLE, VA-Amid news that REIT performance slipped in June and that IPOs in general have been lagging since Facebook’s public debut, SNL offers a hopeful statistic: Since the end of June, five of the 17 REIT IPOs completed since December 31, 2009 have beaten the SNL US REIT Equity index on a total-return basis.

It is hardly an apples-to-apples comparison to REITs’ overall Q2 performance—best described as lackluster—and clearly at five out of 17, these REIT IPOs are in the minority. Nonetheless SNL’s data is still welcome to investors, given fluctuations in the equity markets these days. The Dow Jones All REIT Equity Index showed a total return of 4%, compared to 10.5% in the first quarter.

According to SNL, CoreSite Realty posted the largest total return among the group, at 71.24%. It completed its IPO in September 2010 and beat the broader REIT index by 37.63 percentage points. The REIT also beat the FFO consensus estimate by 5.9% during the first quarter of 2012, SNL noted, which is partly a reflection of the strong demand in the data-center space.

Retail Properties of America completed its IPO on April 4 and posted a return of 23.59%, beating the SNL US REIT Equity index by 18.62 percentage points, SNL also reported.

Select Income REIT, the only other REIT to complete an IPO in 2012, was 1.33 percentage points ahead of the index, posting a return of 10.51% since its IPO on March 6.

STAG Industrial also outperformed the index, besting it by 8.14 percentage points.

American Asset Trust completed its IPO in January 2011 and is 0.82 percentage points ahead of the index with a return of 25.38%.

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