Market Analysis & Research

REITs significantly outperformed the broader stock market in February, with the FTSE Nareit All Equity REITs Index posting a total return of 7.5%, while the Dow Jones U.S. Total Stock Market and Russell 1000 both fell 0.5%.

In the fourth quarter of 2025, CoStar data showed that fundamentals across the four traditional property types were still marked by supply-demand imbalances, but signs of stabilization were also evident.

Nareit tracks quarterly investment holdings for the largest actively managed real estate investment funds focusing on REIT investment for insights into expert investor sentiment.

The FTSE EPRA Nareit Developed Index posted a total return of 3.8% in January, while the FTSE EPRA Nareit Developed Extended Index returned 3.5%.

REITs outperformed large-cap equities and the broader stock market in January, with the FTSE Nareit All Equity REITs Index posting a total return of 2.8%.

Industry experts from Nareit, Bloomberg Intelligence, CenterSquare, and AEW examine valuation gaps, interest rates, policy pressures, and sector fundamentals shaping the REIT market in 2026.

The NCREIF Open End Diversified Core Equity index (ODCE) is a commonly used benchmark for investors in private real estate.

REITs raised approximately $79.9 billion in 2025, a figure that does not include fourth quarter ATM issuance due to a lag in reporting.

The FTSE EPRA Nareit Developed Index posted a total return of 10.7% in 2025, while the FTSE EPRA Nareit Developed Extended Index returned 9.5% for the year.

REITs ended 2025 on a muted note, as the FTSE Nareit All Equity REITs Index fell 2.1% in December, finishing the year with a total return of 2.3%. The FTSE Nareit Mortgage REITs Index rose 16.0% for the year, led by the home financing sector with a total return of 26.4%.