Real Estate Investment Trust Update
REIT Valuation & Returns for Retail, Mall & Health Care Sectors

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Prior REIT Updates
July 04
July Stats Off/Ind/Apt
June 04
June Stats Off/Ind/Apt
June Stats Retail/HC
May 04
May Stats Off/Ind/Apt
May Stats Retail/HC
April 04
April Stats Off/Ind/Apt
April Stats Retail/HC
March 04
March Stats Off/Ind/Apt
March Stats Retail/HC
Feb 04
Feb Stats Off/Ind/Apt
Feb Stats Retail/HC
Jan 04
Jan Stats Off/Ind/Apt
Jan Stats Retail/HC
Dec Stats
Dec Stats
Dec 03
Nov Stats
Nov Stats
Nov 03
Oct Stats
Oct Stats
Oct 03
Sept Stats
Sept Stats
Sept 03
August Stats
August Stats
August 03
August 03
July Stats
July Stats
July 03
June Stats
June Stats
June 03

Factoids
 Q3-02 Index
 Q2-02 Index
 Q1-02 Index
 Q4-01 Index
 Q3-01 Index
 Q2-01 Index
 Q1-01 Index

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July 2004

7-09-04 Weekly Summary:
   The Shopping Center sector prices ended the week with a 3.64% increase year-to-date [vs a 2.61% increase last week] and has fallen 7.86% [vs 8.79% last week] since Q-1's end. The Mall sector ended with a year-to-date gain of 8.27% [vs a gain of 6.88% last week] and has fallen 9.63% [vs 10.78% last week] since Q-1's end. The Health sector finished the week with a 1.85% year to date gain [vs a 0.28% loss last week] for the year and has fallen 11.42% [vs 13.22% last week] since Q-1's end. The Shopping Center sector now has an average yield of 5.60% [vs 5.67% last week down 7 basis points]. The Mall sector average yield is now 4.93% [vs 4.99% last week]. The Health Care sector average yield is now 6.82% [vs 6.96% last week - down 17 basis points].
    In late trading Friday, the 10-year Treasury note was yielding 4.47% [vs 4.60% on 6-30 - down 17 basis points]. The 30-year Treasury was yielding 5.22% [vs 5.30% on 6-30]. The five-year note was yielding 6.64% [vs 3.78% on 6-30], while the three-year yielding 2.91% [vs 3.10%]. The two-year was yielding 2.52% [vs 2.70%].

7-16-04 Weekly Summary:
   The Shopping Center sector prices ended the week with a 4.65% increase year-to-date [vs a 3.64% increase last week] and has fallen 6.98% [vs 7.86% last week] since Q-1's end. The Mall sector ended with a year-to-date gain of 9.85% [vs a gain of 8.27% last week] and has fallen 8.30% [vs 9.63% last week] since Q-1's end. The Health sector finished the week with a 4.95% year to date gain [vs 1.85% last week] for the year and has fallen 9.12% [vs 11.42% last week] since Q-1's end. The Shopping Center sector now has an average yield of 5.54% [vs 5.60% last week down 6 basis points]. The Mall sector average yield is now 4.86% [vs 4.93% last week]. The Health Care sector average yield is now 6.64% [vs 6.82% last week - down 18 basis points].
    In late trading Friday, the 10-year Treasury note was yielding 4.37% [vs 4.47& last week - down 10 basis points]. The 30-year Treasury was yielding 5.12% [vs 5.22% on 7-09]. The five-year note was yielding 3.55% [vs 3.64% on 7-09], while the three-year yielding 2.86% [vs 2.91%]. The two-year was yielding 2.52% [vs 2.52%].

7-23-04 Weekly Summary:
   The Shopping Center sector prices ended the week with a 1.19% increase year-to-date [vs a 4.65% increase last week] and has fallen 10.05% [vs 6.98% last week] since Q-1's end. The Mall sector ended with a year-to-date gain of 5.38% [vs a gain of 9.85% last week] and has fallen 12.01% [vs 8.30% last week] since Q-1's end. The Health sector finished the week with a 1.64% year to date gain [vs 4.95% last week] for the year and has fallen 11.54% [vs 9.12% last week] since Q-1's end. The Shopping Center sector now has an average yield of 5.73% [vs 5.54% last week up 21 basis points]. The Mall sector average yield is now 5.07% [vs 4.86% last week - up 21 basis points]. The Health Care sector average yield is now 6.83% [vs 6.64% last week - up 19 basis points].
    In late-afternoon trading Friday, the 10-year Treasury yielded 4.44% [vs 4.37% last week - up 7 basis points]. The 30-year bond was yielding 5.17% [up 5 basis points]. The five-year note was yielding 3.68%, while the three-year note was yielding 3.01% and the two-year note was yieldiing 2.65%. For the week, the Dow and the Nasdaq each finished 1.8% lower.

7-30-04 Weekly Summary:
   The Shopping Center sector prices ended the week with a 2.82% increase year-to-date [vs a 1.19% increase last week] and has fallen 8.59% [vs 10.05% last week] since Q-1's end. The Mall sector ended with a year-to-date gain of 7.05% [vs a gain of 5.38% last week] and has fallen 10.63% [vs 12.01% last week] since Q-1's end. The Health sector finished the week with a 1.55% year to date gain [vs 1.64% last week] for the year and has fallen 11.60% [vs 11.54% last week] since Q-1's end. The Shopping Center sector now has an average yield of 5.55% [vs 5.63% last week down 8 basis points]. The Mall sector average yield is now 5.00% [vs 5.07% last week - down 7 basis points]. The Health Care sector average yield is now 6.84% [vs 6.83% last week - up 1 basis point].
    In late trading, the 10-year Treasury note yielded 4.47% [vs 4.44% last week - up 3 basis points]. The 30-year bond was yielding 5.20% [up 3 basis points]. The five-year note was yielding 3.69% [vs 3.68% last week], while the three-year note was yielding 3.01% [3.01% last week] and the two-year note was yieldiing 2.68% [2.65% last week]. The Dow gained 1.8% after five weeks of losses, the S&P 500 rose 1.4% after six losing weeks and the Nasdaq was up 2.1% after four down weeks.

July Monthly Summary:
   The Shopping Center sector prices ended the month with a 2.82% increase year-to-date [vs a 2.61% increase last month] and has fallen 8.59% [vs 8.79% last month] since Q-1's end. The Mall sector ended with a year-to-date gain of 7.05% [vs a gain of 6.88% last month] and has fallen 10.63% [vs 10.78% last month] since Q-1's end. The Health sector finished the week with a 1.55% year to date gain [vs 0.28% loss last month] for the year and has fallen 11.60% [vs 13.22% last month] since Q-1's end. The Shopping Center sector now has an average yield of 5.55% [vs 5.60% last month down 5 basis points]. The Mall sector average yield is now 5.00% [vs 4.93% last month - up 7 basis points]. The Health Care sector average yield is now 6.84% [vs 6.82% last month - up 2 basis points]. The 10-year Treasury note yields 4.47% [vs 4.60% last month - down 13 basis points].


Shopping Center Update for 7-30-04

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.


Mall Update for 7-30-04


Health Care Update for 7-30-04

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