REIT Benchmark ETFs Find Support As Regional Bank Stocks Dive
Real estate investment trusts (REITs) stopped heading lower Monday as indicated by the closing prices of the benchmark REIT exchange-traded funds (ETFs).
Service Properties Trust Hits Another 52-Week High
Service Properties Trust (NASDAQ: SVC) is among a handful of real estate investment trusts (REITs) making the list of stocks hitting new highs. Many REITs have rallied off of their October lows, but only a few have shown the kind of price strength recently seen in Service Properties Trust.
Gaming And Leisure Properties REIT Climbs Higher
While many real estate investment trusts (REITs) are heading lower, there is at least this one that’s definitely heading higher. Gaming and Leisure Properties Inc. (NASDAQ: GLPI) continues to blast up to new 52-week highs after bottoming in late September and early October.
Paramount Group REIT Slumps To New Low
Stock market indexes sold off last week and, in the spirit of things, Paramount Group Inc. (NYSE: PGRE) dropped to a new 52-week low. On Feb. 24, the company reported fourth-quarter funds from operations (FFO) at $0.25, up one penny from last year’s fourth-quarter FFO of $0.24.
Essential Properties REIT Hits 9-Month High
Joining the list of real estate investment trusts (REITs) in uptrends, Essential Properties Realty Trust Inc. (NYSE: EPRT) recently hit a nine-month high. After establishing an October 2022 low of $19, the move up to the $25 area amounts to a 31% rally in about four months.
Independence Realty Trust Shows Continued Price Strength
Independence Realty Trust Inc. (NYSE: IRT) owns and operates multifamily apartment properties nationwide with an eye toward benefiting shareholders through cash flow and possible increased value of the underlying real estate.
VICI Properties REIT’s Long-Term Upward Trend Continues In February
VICI Properties Inc. (NYSE: VICI) has been in an uptrend since the March 2020 pandemic scare lows, a trend that continued into February of this year.
Bullish 50- And 200-Day Moving Average Crossovers For 3 REITs
When the 50-day moving average crosses above the 200-day moving average, it’s considered bullish by technical analysts. The price has finally stopped going down over the short term and is headed back up enough to take it back above the long-term trend.
Spirit Realty Capital REIT Up To New 6-Month High
Spirit Realty Capital Inc. (NYSE: SRC) is trending upward so strongly that it hit a new six-month high earlier this week.
How The REIT ETF Benchmarks Reacted To Fed’s 0.25% Rate Hike
All in all, it was a good week for price action in the rate-sensitive real estate investment trust (REIT) sector.
Worries that the Federal Reserve might take interest rates higher than expected evaporated when it announced a 0.25% hike rather than a 0.5% hike. The REIT exchange-traded funds (ETFs) reached four-month highs.