Last week ended with a shake-up in the REIT world, with a merger that could be the biggest commercial real estate shocker of 2016. Here's Bisnow's look back on how the REIT market fared over the past seven days.

WINNER: Parkway Properties

Monday Opening: $15.06/share

Friday Close: $16.45/share

Change: 9.2%

Parkway Properties saw the biggest gain last week, no doubt spurred by news of the office REIT's $2B takeover by Cousins Properties. The new entity is spinning off all of Parkway's Houston properties into a separate REIT, HoustonCo, to be led by Parkway's current CEO, Jim Heistand (pictured).

WINNER: RAIT Financial Trust

Monday Opening: $2.87/share

Friday Close: $3.02/share

Change: 5.9%

RAIT gets second on our winner's list for last week, as the cheap diversified REIT garnered "buy" recommendations from analysts. The stock has a consensus 14 cent EPS estimate for Q1.

WINNER: Columbia Property Trust

Monday Opening: $21.18/share

Friday Close: $22.30/share

Change: 5.2%

Columbia rounds out our winners list for last week, as the firm reported 44 cent EPS on Thursday. The office REIT just scored NYU Langhorne Medical Center as a tenant, leasing out an entire 25-story NYC office tower to the university enterprise.

LOSER: Investors Real Estate Trust

Monday Opening: $6.87/share

Friday Close: $6.02/share

Change: -12%

Investors Real Estate Trust had a rough past week, losing 12% of what little market share it had. Still, there may be good times ahead for the diversified REIT, as analysts have set an $8.50 price target on the firm's stock.

LOSER: FelCor Lodging Trust

Monday Opening: $7.76/share

Friday Close: $7.16/share

Change: -7.7%

FelCor's stock saw a tumble as well last week, during which analysts dropped their Q2 estimates for the lodging REIT to 36 cents/share. The stock also experienced a 0.19% uptick in short selling as of May 1.

LOSER: Public Storage

Monday Opening: $256.94/share

Friday Close: $244.81/share

Change: -4.7%

Public Storage rounds out our poor performers for last week, losing almost 5% of its massive $43B market cap. The self-storage REIT's low Friday close may put it in a prime spot to buy, as some analysts say the stock is oversold.