Mutual funds that specialize in real estate saw net outflows of %17.7 for the week ending Jan. 17 compared to net inflows of $2.4 million in the week ending Jan. 10. The 30-day average trading volume for this group of funds is strong, averaging 16.6 million shares, and increase of 22.1% from the average of a month ago, according to the Monitor.
The dividend yield for the RMS came in at 7.11%, 2 basis points below last week, while spreads over the 10-year Treasury bond narrowed seven basis points from 188 the week before. The S&P 500 registered 595 basis points.
Bear Stearns estimates that fourth quarter funds from operations will be 10.4% for its coverage universe, excluding two companies that will be taking substantial one-time charges, and 8.2% for the 155 companies in its Monitor. The firm attributes these results to healthy real estate fundamentals and strong internal growth.
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