REIT Scorecard: Last Week's Winners And Losers
Last week we reported that returns on REITs outpaced the S&P 500 through not just March, but all of Q1, despite the shuddering stock market. Let's see which of these REITs performed the best (and the worst) last week.
WINNER: NexPoint Residential Trust
NexPoint Residential Trust topped the list this past week, with a whopping 6.5% rise from $13.21 to $14.07/share. The residential REIT's rise comes as SEC filings reveal that Endicott Management snagged 10,000 shares in Q4, bringing its total holdings in the REIT up to $1M.
WINNER: WP Glimcher
WP Glimcher was our second-biggest winner on the week, with a 2.81% climb from $9.58 to $9.85/share. The rise comes as the retail REIT just set a date for its next earnings call—May 4, 2016.
HCP rounds out our top three with a slight 2.6% rise from $33.15 to $34.04/share on the week. Despite the healthcare REIT's strong performance for the week, the majority of analysts recommend a "hold" on the stock.
LOSER: Ashford Hospitality Trust
Our biggest loser for the week dropped a whopping 11.2% from $6.21 to $5.51/share. Analysts gave the lodging REIT a higher rating after the slump this week, with a target price of $7.31 from Zacks Research.
LOSER: RAIT Financial Trust
RAIT Financial Trust had a down week as well, dropping 8.5% from $3.04 to $2.78/share. The mortgage REIT, despite its drop this week, has a consensus target price from Zacks Research of $3.27/share.
LOSER: Ashford Hospitality Prime
Ashford Hospitality REIT rounds out our three losers, although its fall isn't quite as bad as parent company Ashford Hospitality Trust. The lodging REIT fell 6.84% from $11.69 to $10.89/share after its board decided against a sale despite receiving multiple suitors.