Published on 10 Nov 2023 on Benzinga
The 3 Best-Performing Retail REITs Over The Past Year - Best Buy Co (NYSE:BBY), Amazon.com...
The past year has been difficult for real estate investment trusts (REITs), and one of the worst-performing subsectors has been retail REITs. Only nine of 27 REITs in this group have been profitable over the past year.
The headwinds in 2023 have been numerous, including inflation, interest rate hikes, fears of recession, fears of Amazon.com Inc. AMZN and other online retailers drawing sales away from mall and stand-alone retailers. But anyone who visited a local mall in 2023 could see that consumers were still in a spending mood, and many of Wall Street's fears were perhaps unfounded.