Real estate investment trusts struggled in 2013 as broader equity indexes skyrocketed. REITs returned just over 3% in 2013 while broader U.S. indexes rose more than 30%.

The trend has reversed so far through the first quarter – the FTSE NAREIT All REITs index is up 7.8% year to date through March 28. Mortgage REITs have returned more than 10%, while equity REIT returns were just less than 8%. The broader Russell 3000 and MSCI ACWI ex-U.S. returned 0.6% and -0.8%, respectively, through last Friday.