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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
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Monday Open: $15.32/share
Friday Close: $16.81/share
Change: 9.72%
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
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Monday Open: $8.97/share
Friday Close: $9.60/share
Change: 7%
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
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Monday Open: $15.40/share
Friday Close: $16.44/share
Change: 6.75%
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
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Monday Open: $13.56/share
Friday Close: $12.18/share
Change: -10.17%
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
Change: -8.3%
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
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Monday Open: $8.50/share
Friday Close: $7.91/share
Change: -6.9%
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.
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