Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-The Morgan Stanley REIT Index (RMS) rose 0.3% on Friday, up from 399.45 the day before when it clocked a gain of 0.3% over the prior seven days. The broader indexes fell on Friday. So far this year, the Dow Jones Industrial Average is down 2.6%, the Standard & Poor’s 500 has lost 8% and the Nasdaq has declined 16.4%, according to the weekly Bear Stearns REIT Monitor. The 52-week high and the all-time high of the RMS is $404.98; its 52-week low is 327.50.

For the week ending August 1, $31 million moved out of mutual funds that invest in real estate, and saw their total assets fall to $11.7 billion. The 30-day average trading volume for these funds slipped 7.7% from 15.9 million shares to 14.6 million shares.

July turned in the most robust performance in nearly a year when $467 million was raised in REIT equity offerings. It was the second busiest month since May 1998.

Based on earnings reports, the Monitor’s editors project a 5.4% second quarter FFO per share growth (market cap weighted average) for the universe of companies it covers. The consensus expectation is for 6.3% growth for the entire sector.

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?


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 © 2021 ALM Media Properties, LLC. All Rights Reserved.