REIT Scorecard: Last Week's Winners And Losers

June’s jobs report far exceeded expectations with 287,000 jobs created for the month, and many economists say the positive report could bring a Fed rate hike before the end of the year. Here’s how REITs are taking the news.

Winner: NorthStar Realty Finance Corp

Photo credit: YouTube/NYSE

Monday Open: $11.48

Friday Close: $12.58

Change: 9.5%

NorthStar topped the list as our biggest winner this week, coming back from the bottom of Bisnow’s top three losing REITs at the beginning of the month. The asset manager has seen its shares fluctuate greatly following the announcement of its coming merger with Colony Capital.

Winner: Global Net Lease

Monday Open: $7.93

Friday Close: $8.57

Change: 8%

The REIT has yet to announce its Q2 results, but it reported net income of $6.5M, or $0.04/share, in Q1. The REIT operates a portfolio of 329 net-lease properties in five countries.

Winner: Pebblebrook Hotel Trust

Monday Open: $26.84

Friday Close: $28.78

Change: 7.2%

Pebblebrook focuses on the hospitality sector and has a market cap of $2.07B. Last month, the REIT unloaded three hotels in Miami and Boston for a combined $111.4M. The company owns 35 hotels throughout the country and focuses on upscale, full-service properties.

Loser: DuPont Fabros Technology

Data center

Monday Open: $110.24

Friday Close: $106.56

Change: -3.33%

Data center operator DuPont Fabros Technology was hit the hardest this week. Last month, the REIT unloaded a data center to QTS Realty Trust for $125M. The company felt the property was better suited for retail purposes, and will use the funds to redeem $100M in Series B preferred shares outstanding.

Loser: Digital Realty Trust

Monday Open: $48.05

Friday Close: $46.49

Change: -3.2%

The data center operator’s shares have fluctuated since the company announced plans to acquire eight European data centers for roughly $874M. The eight-property portfolio includes locations in London, Amsterdam and Frankfurt, making it the second-largest data center operator behind Equinox.

Loser: CubeSmart

Monday Open: $31.65

Friday Close: $30.69

Change: -3%

CubeSmart has been pushing to grow its sustainability and eco-friendly initiatives for nearly a decade and opened its first “net zero energy” commercial building in Austin this year. The self-storage REIT accounts for $5.45B in market cap.

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