The performance of several stock market indices shows the point.Equity markets that reflect the high-tech markets such as theNasdaq Composite, the Russell 2000 Growth, Dow Jones, S&P 500and Russell 2000 have turned negative in 2000. In contrast, thereare markets such as 10-year treasuries, NAREIT and S&Putilities. Those rely on value income and predictable performanceand have crossed from negative returns last year into positive andabove average returns this year.
So what caused the change? Investors are focused intently oncorporate earnings, Grupe says. High oil costs and the decline ofthe Euro have underscored this new focus.
Four factors in particular have boosted REIT stocks: stabilizedcorporate earnings, a well-balanced real estate economy, stockprice volatility, and good value.
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