The FTSE NAREIT All Equity REIT index returned 7.5% in the first quarter, down from 10.02% from a year ago, the National Association of Real Estate Investment Trusts reported Monday.
The FTSE NAREIT All REIT index returned 6.8%, down from 9.47% a year earlier.
The FTSE NAREIT All REIT Index includes both equity and mortgage REITs.
For the year ended March 31, the all equity REIT benchmark returned 25.02%, down from 106.68% for the year ended March 31, 2010. The all REIT index returned 24.34% for the year, down from 98.88% a year earlier.
In the first quarter, REITs raised a combined $23.3 billion in 59 equity and debt offerings, nearly half the $47.5 billion in public equity and debt raised by REITs all last year and up from $10.36 billion in 40 equity and debt offerings in the first quarter of 2010, stated Ronald C. Kuykendall, vice president, communications in an e-mailed response to questions.