- The iShares U.S. Real Estate ETF (IYR -1.4%) and the Vanguard Real Estate ETF (VNQ -1.4%) are down today, but less than half that of the S&P 500.
- On a year-to-date basis, the two are faring worse than the S&P 500's 4.5% decline by about 500 basis points, but the spread has narrowed significantly over the past month as the case for selling REITs - higher interest rates and broader equity markets going only one way (up) - has weakened.
- For now, at least, bonds aren't reacting a whole lot to the plunge in stocks today, with the 10-year Treasury yield flat at 2.73%.
- Some REIT names today: Kimco (KIM -2.4%), PREIT (PEI -1.6%), Simon Property (SPG -0.9%), Hospitality Properties (HPT -2.9%), Realty Income (O -1.1%), Liberty Property (LPT -1.8%), Highwoods Properties (HIW -1.1%), Duke Realty (DRE -2.7%), Public Storage (PSA -0.3%), Stag Industrial (STAG -2%)
- Now read: This Internet-Driven REIT Is A Long-Term Treat
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