SNL has concluded that retail REITs are responsible for the sector's superior numbers. With a 7.7% increase, retail REITs led the group, while hotel REITs pulled up the rear with an 18.3% decline.
"Investors have priced into REIT stocks their expectations regarding current property market fundamentals," SNL senior analyst and editor for Real Estate Securities Keith Pomroy explains. "The key variable for all property markets is now the Iraq war's effect on the US economy."
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