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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 Apollo Residential Mortgage was the biggest winner this week, jumping almost 30% from $10.13 to $13.06 after news that Apollo Commercial Real Estate will buy out the residential REIT for $14.59/share.
NorthStar Realty Finance shares jumped 26%, from $10.28 to $12.96 on the week, after news of the diversified REIT considering a recombination with parent company NorthStar Asset Management, which it spun off from in 2014.
Retail REIT WP Glimcher had a nice week as well, rising 12% from $7.82 to $8.76 after beating expectations on earnings results this week.
The Losers:
Mortgage REIT iStar had the biggest drop on the week, falling almost 7% from $8.87 to $8.25, following its downward trend for the year, after the briefest of reprieves last week on our "Winners" list.
Infrastructure REIT CorEnergy Infrastructure is another REIT that went from our Winners to Losers list this week, falling 5.7% from $13.69 to $12.90, after getting downgraded by Wells Fargo on Thursday.
Retail REIT STORE Capital dropped 5.3% from $25.64 to $24.28, after releasing Q4 results on Feb. 23.
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