Having posted 9.3% total return in the third quarter to date and25.1% gains year to date, as measured by the Wilshire REIT Index,"REITs are no longer the laggard in the equities performancederby," says Michael A. Torres, president of Lend Lease Rosen.
Year to date, REITs are beating the Standard & Poor's500-stock index by more than 20 percent. Through the seven monthsof 2000, the Lipper Real Estate Fund Index reported that realestate mutual funds delivered an average 20.8% return year to date,compared to 2.5% over the same period in 1999.
Hotel REITs have produced a 13.1% gain, the best total returnduring the third quarter in the Wilshire REIT Index, followed bythe diversified (up 12.1%) and apartment (up 10.9%) sectors. HotelREITs have performed very well year to date, up 37.9%.
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