For the week ending August 1, $31 million moved out of mutual funds that invest in real estate, and saw their total assets fall to $11.7 billion. The 30-day average trading volume for these funds slipped 7.7% from 15.9 million shares to 14.6 million shares.
July turned in the most robust performance in nearly a year when $467 million was raised in REIT equity offerings. It was the second busiest month since May 1998.
Based on earnings reports, the Monitor's editors project a 5.4% second quarter FFO per share growth (market cap weighted average) for the universe of companies it covers. The consensus expectation is for 6.3% growth for the entire sector.
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