Published on 4 Jan 2024 on Benzinga via Yahoo Finance
The Best-Performing REITs Of 2023
If there's one thing about Wall Street that's predictable, it's that so often it can be entirely unpredictable. When investors expect a pullback, the market races up another 5%. Conversely, declines tend to occur when investors least expect them.
Although 2023 began well for real estate investment trusts (REITs), by February it was obvious that the Federal Reserve would have to raise interest rates much more to get back to its desired 2% inflation target. The next eight months then proved difficult for REITs, as multiple interest rate hikes by the Federal Reserve sent most of the group into a substantial decline.