Retail REIT stock prices held steady in the past month. Glimcher posted the biggest gain.
BEYOND ATTRACTIVE YIELDS
REIT dividend yields are once again outperforming the 10-Year Treasury Note, with the SNL U.S. REIT Equity index yielding 4.66 percent versus 3.77 percent for the 10-Year T-Note.
HOUSE OF PAIN
Depreciation in home prices has accelerated in recent months, according to the S&P/Case-Shiller Home Price Indices. Clear declines are evident in the top 10 and top 20 city indices.
REIT stocks have rallied in recent months, but firms are still trading at a discount to net asset value, according to SNL Financial’s calculations.