Most REITs got back on track this week with good upside movement as the stock market took on a more bullish tone in general.
There were some real estate investment trusts that really came back with Friday gains that easily outdistanced others in the sector.
Trending in Real Estate: Jeff Bezos-Backed Real Estate Investment Platform Acquires Another $23 Million Worth Of Single-Family Rental Homes
Here are the 3 REITs with the day’s best performance:
Park Hotels and Resorts (NYSE:PK) is the best performing of the big REITs with a Friday gain of 5.26%. The below chart shows that the selling had been relentless for the last 2 weeks and buyers seemed to swoop in just before the weekend.
Host Hotels and Resorts (NASDAQ:HST) is the NASDAQ-traded REIT that moved higher on Friday by 4.48%. It’s been a disastrous June of selling for the REIT, but Friday reversed the trend after Thursday’s dip below $15.25. That was the December 2021 low, so this is a bounce off of a support level, for sure.
VICI Properties (NYSE:VICI), the gaming REIT with the big Las Vegas properties, closed up by 3.91%. After hitting a low of $27.50 during last week’s trading, VICI roared back this week with a strong close at $30.33. It still has a way to go before it can re-take that early June high up there at $33.50 where the selling got started.
Read next: How This Real Estate Fund Is Beating The Stock Market
Not investment advice. For educational purposes only.
Charts from StockCharts
