Second Quarter Best in REITs' History
By Allen Kenney
(July 2)—The U.S. REIT market completed its best quarter ever in June, as the FTSE NAREIT Equity REIT Index gained 28.9 percent in the second quarter of 2009. The index’s performance marked its highest quarterly gain since its inception in 1972.
The index dropped 2.5 percent for the month of June, bringing its return in the first half of 2009 to -10.5 percent. Domestic REITs continued to lag the broader markets, as the broader indexes have seen muted gains this year.
Richard Moore, a REIT analyst with RBC Capital Markets, said the REIT industry has tended to track financial stocks in the past two years, so he speculated that improved perform
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