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Self-Storage Leads Gains for REIT Industry So Far in 2010


Self-storage was among the sectors that led gains for the REIT (real estate investment trust) industry during the first five months of the year, according to the June 2010 MediaUpdate released by the National Association of Real Estate Investment Trusts (NAREIT). The update, summarizing REIT-performance data through May 31, indicates that the apartment and lodging/resorts sectors are also leading the pack in 2010, while regional malls, apartments and the office sector are outperforming the industry on a 12-month basis.
For the first five months of 2010, apartments delivered a total return of 23.91 percent; the lodging/resorts sector delivered 19.05 percent; and self-storage delivered 15 percent. For the 12 months ending May 31, regional malls delivered a 78.93 percent total return; the apartment sector delivered 76.54 percent; and the office sector delivered 66.04 percent.
According to the NAREIT summary, U.S. REITs have demonstrated an eleven-fold performance advantage over the broader equity market for the year ending May 31. The FTSE NAREIT Equity REIT Index delivered an 11.13 percent total return. The FTSE NAREIT All REITs Index was up 10.58 percent. By comparison, other major market benchmarks were in negative territory for the year. The S&P 500’s total return was -1.5 percent. The Dow Jones Industrial Index delivered a -2.79 percent return for the year, and the NASDAQ Composite’s return for the period was -.53 percent.
REITs also more than doubled the performance of the broader market. The FTSE NAREIT Equity REIT Index delivered a 55.98 percent total return for the 12-month period through May 2010, and the FTSE NAREIT All REITs Index’s total return for the period was 53.54 percent. By comparison, the S&P 500 returned 20.99 percent for the year.
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