REITs Gain 5% in July After Solid Q2 Earnings
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REITs bounced back nicely in July after three straight months of declining returns. The FTSE/NAREIT All REIT Index gained 4.9% in July, buoyed by solid Q2 earnings reports that helped reaffirm fundamentals in the sector. REITs were lead by the self-storage sector, which rose 11.5% in July and has gained 15.7% for the year through July 31, REIT.com reports. “It’s clearly the best-performing subsector for numerous years now, and this year is no different,” observed Ki Bin Kim, analyst at Sun Trust Robinson Humphrey. Analysts indicated that the markets already have any potential rate hikes built in. Returns in both the apartment and industrial sectors posted solid returns for the month as well, rising 6.1% and 8.7%, respectively. [REIT]