REITs At New Highs: Early Expansion, Not The End Of The Cycle

After 1,078 trading days, U.S. REITs (FTSE NAREIT All Equity Total Return Index) reached new all-time highs on Friday, April 17. Commercial real estate (CRE) has already undergone a significant valuation reset, while many other public and private markets have yet to experience a comparable repricing. Signals from the U.S. listed REIT market indicate that real estate is transitioning from recovery to expansion, as valuations move above prior cycle highs.

Seeking Alpha • Apr 22, 2026

The State Of REITs: March 2026 Edition

After a solid January performance, the REIT sector recovery gained steam in February with a stronger +3.70% return. Large cap REITs (+5.80%) led the REIT sector in February with strong gains from mid caps (+5.26%) and small caps (+4.94%). Micro caps (-6.12%) badly underperformed again in February. 71.71% of REIT securities had a positive total return in February.

Seeking Alpha • Mar 19, 2026

The State Of REITs: February 2026 Edition

The REIT sector rebounded from a rough 2025 (-3.57%) by starting off 2026 in the black (+1.09%). Small-cap REITs (+3.27%) outperformed in January, followed by solid gains from mid-caps (+2.65%) and large caps (+2.35%). Microcaps, however, had a dismal start to the year with. 63.46% of REIT securities had a positive total return in January.

Seeking Alpha • Feb 19, 2026

The State Of REITs: January 2026 Edition

The REIT sector closed out 2025 with a tough December (-1.48%) and finishing the year with a -3.57% total return for 2025. Small caps (+0.51%) eked out a small gain in December, while mid caps (-1.77%), large caps (-2.55%) and micro caps (-3.88%) fell at the close of the year. 42.04% of REIT securities had a positive total return in December with only 38.36% in the black for the full year.

Seeking Alpha • Jan 14, 2026

The State Of REITs: December 2025 Edition

The REIT sector returned to positive territory in November (+1.02%) after back-to-back months in the red. Mid caps (+3.53%) led the REIT sector in November followed by small caps (+3.38%) and large caps (+0.32%); micro caps (-8.76%) badly underperformed. 68.15% of REIT securities had a positive total return in November.

Seeking Alpha • Dec 11, 2025

REIT Market Perspectives - December 2025

Year-to-date returns across the REIT market varied remarkably, with large gains from non-U.S. REITs and U.S. healthcare REITs, while U.S. residential and data center sectors were notable laggards. In the last three years, there have been two major forces impacting the performance of equity markets and real estate. Today's public REIT market looks a lot different than what most investors expect. Sectors previously considered niche have grown to be essential in today's economy and society.

Seeking Alpha • Nov 26, 2025

The State Of REITs: November 2025 Edition

The REIT sector has seen back-to-back tough months as it saw a modest average negative total return in September (-0.73%) and fell deeper into the red in October (-4.03%). Small cap REITs (-5.05%) had the worst performance in October. Micro caps (-2.81%), mid caps (-3.11%) and large caps (-4.45%) were also in negative territory albeit to a smaller degree. Only 21.66% of REIT securities had a positive total return in October.

Seeking Alpha • Nov 18, 2025

REIT Earnings Preview: Here's What We're Watching

Real estate earnings season kicks into gear this week, and over the next month, we'll hear results from 175 equity REITs, 40 mortgage REITs, and dozens of housing industry companies. One step forward, one back: Matching the stubborn performance pattern seen last year, REITs rallied ahead of the Fed's September rate cut but stumbled into the start of earnings season. In this report, we focus specifically on property-level fundamentals, previewing and forecasting REIT earnings performance based on an analysis of recent indicators across various sources.

Seeking Alpha • Oct 22, 2025

Rally In The Dark

U.S. equity markets rebounded this past week as the White House resumed negotiations with China following a major tariff threat, while investors focused on bank earnings that raised some eyebrows. Consistent with the "risk-off" theme that has prevailed amid the ongoing federal government shutdown with no resolution in sight, short-term Treasury yields receded to the lowest levels in three years. Buoyed by a dip in benchmark rates, real estate equities led the rebound this week after REIT earnings season began on a positive note with surprisingly strong industrial REIT results.

Seeking Alpha • Oct 19, 2025

The State Of REITs: October 2025 Edition

After a strong August, REITs faded slightly in September (-0.73%), pulling the REIT sector's year-to-date average total return down to (-1.74%). Mid-cap REITs (-0.92%) averaged the lowest total return in September. Large caps (-0.29%), micro caps (-0.79%), and small caps (-0.83%) averaged modestly smaller declines. Only 37.4% of REIT securities had a positive total return in September.

Seeking Alpha • Oct 13, 2025