REIT Index Hits New High for Second Week in a Row

NEW YORK CITY-The Morgan Stanley REIT Index (RMS) closed Thursday at an all-time high of 394.02, up 1.7% from its previous high the week before, according to the Bear Stearns REIT Monitor, which is published every Friday. The Dow Jones Industrial Average, the S&P 500 and the Nasdaq, which had performed well the week before, were down through Thursday by 3.6%, 4.5% and 9.7%, respectively.

The next day, they all slipped again while the RMS was flat. For the year, the RMS has risen by 7.7%. The Dow is down just a bit, 1.5%, the S&P has suffered an 8.7% decline and the Nasdaq is struggling with an 18.9% loss.