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Prior Updates May 04 News May Stats April 04 News April Stats April Stats March 04 News March Stats March Stats Feb 04 News Feb Stats Feb Stats Jan 04 News Jan Stats Jan Stats REIT Links CPN Globe St. ICSC Real Estate Journal Reis ReBuz RSR NaREIT NREI Property ICSC REIT Week NAIOP ShopCntrsToday ShopCntrWrld |
First week summary: The Shopping Center sector prices ended the week with a 9.10% decrease year-to-date [vs a 6.36% decrease last week] and has fallen 19.17% [vs 16.76% last week] since Q-1's end. The Mall sector ended with a year-to-date loss of 8.85% [vs a loss of 5.09% last week] and has fallen 23.96% [vs 20.81% last week] since Q-1's end. The Health sector finished the week with a 8.62% year to date loss [vs 5.43% last week] for the year and has fallen 20.43% [vs 17.57% last week] since Q-1's end. The Shopping Center sector now has an average yield of 6.42% [vs 6.20% last week]. The Mall sector average yield is now 5.81% [vs 5.57% last week]. The Health Care sector average yield is now 7.60% [vs 7.27% last week]. FFO estimates are updated on all retail sectors through 4-30. The 10-year note's yield rose to 4.77% [vs 4.534% last week]. The 30-year bond was yielding 5.46% [vs 5.315% last week]. Second week summary: FFO's Updated 5-14 During a week when the 10-year's yield was flat, four of the six REIT sectors followed on these pages rose. The Shopping Center sector prices ended the week with a 8.59% decrease year-to-date [vs a 9.10% decrease last week] and has fallen 18.73% [vs 19.17% last week] since Q-1's end. The Mall sector ended with a year-to-date loss of 7.14% [vs a loss of 8.85% last week] and has fallen 22.58% [vs 23.96% last week] since Q-1's end. The Health sector finished the week with a 9.68% year to date loss [vs 8.62% last week] for the year and has fallen 21.32% [vs 20.43% last week] since Q-1's end. Falling FFO expectations hurt this sector, while rising FFO expectations helped both retail and mall sectors. The Shopping Center sector now has an average yield of 6.38% [vs 6.42% last week]. The Mall sector average yield is now 5.69% [vs 5.81% last week]. The Health Care sector average yield is now 7.67% [vs 7.60% last week]. The 10-year note's yield was up 1 basis point to 4.78% [but reached 4.854% during the week]. The 30-year bond was yielding 5.49% [vs 5.46% last week]. The two year's yield ending at 2.54% and the 5 year at 3.90%. The Dow lost 1% for the week and the Nasdaq fell 0.7%. The S&P 500 fell 0.3%. April's core CPI had a larger-than-expected rise. The overall CPI rose 0.2% in April. The core CPI has risen at a 3% annualized pace in the first four months of 2004, up from 1.1% in 2003. A 0.8% surge in industrial production for April, the biggest monthly rise since November 2003, should have also been bearish news. Factory capacity use jumped to 76.9% in April, the highest level since July 2001. Economists had looked for a 0.4% increase in the industrial production index and a 76.7% reading on capacity utilization, according to a Dow-CNBC survey. Third week summary: This week the 10-year's yield fell, and all six of the REIT sectors followed on these pages rose. The Shopping Center sector prices ended the week with a 6.36% decrease year-to-date [vs a 8.59% decrease last week] and has fallen 16.73% [vs 18.73% last week] since Q-1's end. The Mall sector ended with a year-to-date loss of 4.60% [vs a loss of 7.14% last week] and has fallen 20.44% [vs 22.58% last week] since Q-1's end. The Health sector finished the week with a 7.32% year to date loss [vs 9.68% last week] for the year and has fallen 19.30% [vs 21.32% last week] since Q-1's end. The Shopping Center sector now has an average yield of 6.24% [vs 6.38% last week]. The Mall sector average yield is now 5.55% [vs 5.69% last week]. The Health Care sector average yield is now 7.48% [vs 7.67% last week]. In late trading Friday, the 10-year Treasury note was yielding 4.76%, the 30-year bond - 5.46%, the five-year note - 3.90%, the three-year note - 3.16% and the two-year note - 2.56%. Fourth week summary: The Shopping Center sector prices ended the week with a 0.75% decrease year-to-date [vs a 6.36% decrease last week] and has fallen 11.79% [vs 16.73% last week] since Q-1's end. The Mall sector ended with a year-to-date gain of 2.42% [vs a loss of 4.60% last week] and has fallen 14.49% [vs 20.44% last week] since Q-1's end. The Health sector finished the week with a 1.81% year to date loss [vs 7.23% last week] for the year and has fallen 14.53% [vs 19.30% last week] since Q-1's end. The Shopping Center sector now has an average yield of 5.90% [vs 6.24% last week, a 34 basis point change]. The Mall sector average yield is now 5.17% [vs 5.55% last week, a 38 basis point change]. The Health Care sector average yield is now 7.06% [vs 7.48% last week, a 42 basis point change]. At the 2 p.m. early close, the 10-year Treasury note was yielding 4.651% [vs 4.76% last week], the 30-year bond - 5.344% [5.46% last week], the five-year note - 3.80% [vs 3.90] and the two-year note - 2.544% last week]. Notes: 02 FFO's for AKR and RPT were taken from their year-end stats release, and were substantially different for numbers in the WSJ database. Click here for the Office, Industrial and Apartment Updates. Click here for this months articles. |