As the week comes to a close, here's Bisnow's breakdown of the best and worst performing REITs for the week, as of Friday morning.
The Winners:
Mortgage REIT RAIT Financial Trust went up 16% this week—and it's only up from $2 to $2.35. Despite this week's rally, the REIT has dropped 66% since mid-July.
Mortgage REIT iStar had a good week, rising 11%. But it's also been on the downturn of late (down 39% since July) as hedge funds back out of their REIT holdings, due to liquidity issues.
After tumbling 24% last week, infrastructure REIT CorEnergy Infrastructure Trust recouped a chunk of its losses, climbing 11% after being upgraded to "buy" on Zacks Investment Research on Tuesday.
The Losers:
Retail trust Retail Properties of America slid almost 3%, dropping from $14.66 to $14.23 despite beating profit expectations early in the week.
Office REIT Easterly Government Properties had a slight .8% drop after Zacks Investment Research downgraded the stock from "strong buy" to "hold" on Thursday.
Retail REIT Inland Real Estate also dropped slightly, sliding .6%, even after announcing its payout of 17 cent cash dividends on shares.
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