NAREIT index tops S&P 500, Russell 3000

The National Association of Real Estate Investment Trust's index measuring all REITs was up 30.4% for 2004, beating the S&P 500 index return of 8.99% and the Russell 3000 index return of 13.04%. The industrial/office portion of the NAREIT index, which tracks 37 companies, returned 24.59%; the residential apartments portion, which tracks 21 companies, returned 29.77%.