Some real estate investment trusts (REITs) are hitting new year-to-date lows as the effects of Fed Chair Jerome Powell’s hawkish remarks at this year’s Jackson Hole, Wyoming, retreat sink in.
The benchmark measure for publicly traded real estate investment trusts (REITs) is the Real Estate Select Sector SPDR Fund (NYSEARCA: XLRE). Take a look at how it’s fallen this year, mostly in April and May: