Best-performing REIT stocks last month
The REIT sector experienced a dip mid-June as the Federal Reserve more aggressive rate hikes than previously anticipated. The drop marked a record low in 2022 for the sector.
By the end of the month, medical REITs were trending upward, while overall realty trended down. Returns for the sector experienced a return to nearly May levels by the end of the month. Still, the fell 6.5% during the month of June.
Developers that investors should stay away from commercial office-focused REITs as the pandemic-driven shift to flexible working environments has proved enduring. Kastle Systems, which runs a widely-cited , announced in June that office capacity had hit a ceiling, and that offices will likely stay less than 50% occupied by workers for the foreseeable future.
SL Green Realty, one of New York City鈥檚 largest commercial REITs, continued to see its stock price decline over the month of June. It鈥檚 fallen 22% since the end of May.
Real estate platform compiled a list of the best-performing REITs in June, using data from . Stocks are ranked based on total returns, including dividends. All REITs based in the U.S. listed on were considered. REITs, short for real estate investment trusts, are companies that own and operate income-producing properties such as residential, office buildings, retail, or timberland. To qualify as a REIT, the company must distribute 90% of taxable income to shareholders.
