Real estate investment trusts outperformed the large-cap equity markets in the year ended March 31, with the FTSE NAREIT All REITs index — which includes equity and mortgage REITs — up 4.06%, and the FTSE NAREIT All Equity REITs index up 4.66% for the period, according to the National Association of Real Estate Investment Trusts data.
By comparison, the 12-month total return for the S&P 500 for the same period was 1.78%.
Mortgage REITs did not fare as well. The FTSE NAREIT Mortgage REITs index returned -7.17% for the 12 months ended March 31.
The FTSE NAREIT All REITs index total return for the first quarter was 5.86%. The FTSE NAREIT All Equity REITs index was up 5.84% in the quarter. In comparison, the total return of the S&P 500 was 1.35% in the first quarter.
The FTSE NAREIT Mortgage REITs index’s total was up 1.28% in the first quarter.