Published on 4 Jan 2024 on Benzinga via Yahoo Finance
After a difficult year, December was an incredible month for investors of real estate investment trusts (REITs). Sparked by the Federal Reserve's third consecutive pause on interest rate hikes and a prediction that they'll deliver three rate cuts in 2024, REITs blasted higher from undervalued positions.
Office REITs were the best-performing subsector, with a dozen REITs surging over 20% higher. Seven mortgage REITs (mREITs) also enjoyed a month of 20% or more gains.