REIT Scorecard: Last Week's Winners And Losers

Photo credit: Bisnow

After a shaky quarter topped off by April's lackluster jobs numbers, here's Bisnow's breakdown of the best and worst performers in the REIT sector last week.

WINNER: Agree Realty Corp

Monday Opening: $38.78/share

Friday Close: $43.07/share

Change: 11%

Agree Realty reached a 52-week high—for the second week in a row. The climb comes after the retail REIT announced a 48-cent quarterly dividend per share.

WINNER: Summit Hotel Properties

Monday Opening: $11.40/share

Friday Close: $12.61/share

Change: 10.6%

Summit Hotels followed close behind Agree Realty last week, with most of its gain coming from a spike on Wednesday. The lodging REIT saw a boost as institutional investors have taken up more shares: 89 institutional investors have increased their holdings recently.

WINNER: Preferred Apartment Communities

Monday Opening: $12.34/share

Friday Close: $13.64/share

Change: 10.5%

Preferred Apartment Communities also saw a double-digit percentage increase last week, with the majority of the spike coming on Tuesday. The multifamily REIT saw a 5% dividend boost to 20 cents a share.

LOSER: Altisource Residential

Monday Opening: $11.62/share

Friday Close: $10.93/share

Change: -5.9%

The biggest "loser" REIT for the week hit a low on Wednesday before seeing a slight rebound. The residential REIT has lost nearly 43% of its value over the past 12 months.

LOSER: iStar

Monday Opening: $9.80/share

Friday Close: $9.24/share

Change: -5.7%

iStar saw a big drop on Tuesday, falling 5.9% in one day before seeing a slight recovery over the remainder of the week. Over the last year, the REIT has traded between $14.77/share and $7.59/share; its current levels are toward the lower end of that range.

LOSER: ARMOUR Residential

Monday Opening: $21.28/share

Friday Close: $20.22/share

Change: -4.9%

ARMOUR Residential rounds out our "losers" for the week, after being downgraded to "neutral" on May 4 by some analysts. Not surprisingly, the residential REIT hit its low of $19.65/share on Wednesday before its revival towards the end of the week.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

JVP Development Is Betting $37M Of Its Own Money That Frisco Is Ready For Spec Office

Wall Street Impatient For Big Tech Returns On Data Center Spending

As AI Adoption Ramps Up, Half A Million Property Managers Are In The Crosshairs

Treasuries Hover Around 4.7% As Wall Street Questions If Warsh Is A 'Dove In Hawk's Clothing'

Avison Young Had Assets Frozen By Bank Over Unpaid Taxes

Camden Property Trust Sells West Coast Portfolio, Clears $1.5B Target

Churchill Downs Plans To Sell 9 Casinos, Focus On Horse Racing

Bringing Stability And Savings To CRE Insurance Through Working Layer

More Hotel Owners In Need Of Cash Are Getting It From The Big Brands

Former Arms Dealer Targeting Heartland Apartment Takeover Files For Bankruptcy

SEC Charges REIT, Its Founders With Alleged $152M Fraud Scheme

Equinix Ramps Up Spending Plans Amid Faster-Than-Expected AI Shift