Posted 1/6/2024, 5:00:59 PM
REITs Stumble Out of the Gate in 2024 as Rate Worries Weigh on Real Estate Stocks
- REITs had disappointing start to 2024 as markets remained worried about rate cuts
- Equity REITs underperformed broader markets; XLRE dropped amid skepticism about near-term rate cuts
- Mortgage rates ticked up slightly for the first time since October 2023
- Medical Properties Trust stock hit lowest since 2009 after issues with tenant
- Hotel REITs were outliers, gaining 1.39% week-over-week; Specialty REITs fell most at 3.82%