Published on 17 Apr 2024 on Benzinga via Yahoo Finance
4 REITs That Have Beaten The Latest Correction
4 REITs That Have Beaten The Latest Correction
Recent unexpected strength in the March Consumer Price Index (CPI) and retail sales report shook the bond market this past week, triggering a sell-off in interest-rate sensitive stocks such as real estate investment trusts (REITs).
The Vanguard Real Estate Index Fund ETF (NYSE:VNQ) sank 6.5% from $85.97 to $80.32 over the past four trading days as of April 17, 2024. REITs across several different sub-sectors, such as Prologis Inc. (NYSE:PLD), SL Green Realty Corp. (NYSE:SLG), Simon Property Group (NYSE:SPG) and Equinix Inc. (NASDAQ:EQIX) sold off between 5% to 8% over the same timeframe.