REIT Scorecard: Last Week's Winners And Losers
CBL is under scrutiny from regulators, who are looking into four of the REIT's loans. Here's how the rest of the REIT sector is performing.
WINNER: NexPoint Residential
Monday Open: $15.32/share
Friday Close: $16.81/share
NexPoint Residential led the REIT world this week, seeing nearly double-digit gains. The residential REIT has come far since its low of $10.82/share during the early year market turmoil.
WINNER: DiamondRock Hospitality
Monday Open: $8.97/share
Friday Close: $9.60/share
Diamondrock saw nearly half of its weekly gain on Wednesday alone, rising 3.44%. The lodging REIT has a 52-week high of $13.86/share while its low is $7.28/share over the same period.
WINNER: Host Hotels & Resorts
Monday Open: $15.40/share
Friday Close: $16.44/share
Host Hotels rounds out our top three performers, having received an average price target of $18.16 on Friday. The Maryland-based lodging REIT recently sold off three non-core hotels for $175M—adding to the $1.2B total of non-core assets it has shed in the past year.
LOSER: NorthStar Realty Finance
Monday Open: $13.56/share
Friday Close: $12.18/share
NorthStar was our biggest loser for the week, despite receiving a "Buy" rating from analysts in the beginning of the week. The REIT recently inked a deal to combine with NorthStar Asset Management and Colony Capital to make a $58B REIT.
LOSER: WP Glimcher
Monday Open: $11.63/share
Friday Close: $10.66/share
WP Glimcher erased nearly all of its gains from last week, when it had a spot on our "Winners" list. The decline comes after rumors of a possible merger with Kite Realty were debunked early in the week.
LOSER: Global Net Lease
Monday Open: $8.50/share
Friday Close: $7.91/share
Global Net Lease rounds out our worst performers, as it fell below the $7.95/share where it started 2016. The retail REIT's struggles come while as many as $47.5B retail-backed loans are coming due in coming months.