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Yahoo Daily #s Office Industrial Apartment Retail Mall Health NAREIT Index Factoids MLP Stats Bank Stats Prior REIT Updates May 06 May Retail/HC May Off/Ind/Apt April 05 April Retail/HC April Off/Ind/Apt March 05 March Off/Ind/Apt March Retail/HC Feb 05 Feb Off/Ind/Apt Feb Retail/HC Jan 04 Jan Off/Ind/Apt Jan Retail/HC Dec 04 Dec Off/Ind/Apt Dec Retail/HC Nov 04 Nov Off/Ind/Apt Nov Retail/HC Oct 04 Oct Off/Ind/Apt Oct Retail/HC Sept 04 Sept Off/Ind/Apt Sept Retail/HC Aug 04 Aug Off/Ind/Apt Aug Retail/HC July 04 July Off/Ind/Apt July Retail/HC June 04 June Off/Ind/Apt June Retail/HC May 04 May Off/Ind/Apt May Retail/HC April Off/Ind/Apt April Retail/HC April 04 March Off/Ind/Apt March Retail/HC March 04 Feb Off/Ind/Apt Feb Retail/HC Feb 04 Jan Off/Ind/Apt Jan Retail/HC Jan 04 Dec Off/Ind/Apt Dec Retail/HC Dec 03 Nov Off/Ind/Apt Nov Retail/HC Nov 03 Oct Off/Ind/Apt Oct Retail/HC Oct 03 Sept Off/Ind/Apt Sept Retail/HC Sept 03 August Off/Ind/Apt August Retail/HC August 03 July Off/Ind/Apt July Retail/HC July 03 Factoids Q3-02 Index Q2-02 Index Q1-02 Index Q4-01 Index Q3-01 Index Q2-01 Index Q1-01 Index Biz Links Business News Columnists Econ Reports Stock Exchanges Searches Tax News REIT Links CPN CSA Globe St. ICSC Real Estate Journal Reis ReBuz RSR NaREIT NREI Property ICSC REIT Week REIT Net NAIOP ShopCntrsToday ShopCntrWrld Ind & Office Realtors Yahoo Sortable REOC List Yahoo Stock Screen Stock Charts |
Monthly Sector Summary The year-to-date Shopping Center sector price performance rose to a gain of 2.10% from May's loss of 2.31%. 05 FFO growth estimates ended June with a rise to 0.40% vs. May's rise of 0.34%. Yields fell 22 basis points to 4.96% from May's 5.18%. NaREITs Shopping Center sector numbers: Up 4.93% year-to-date with a yield of 4.53%. The year-to-date Mall sector price performance rose to a gain of 7.81% from May's gain of 1.44%. 05 FFO growth estimates ended June with a fall to 1.50% vs. May's rise of 2.58%. [When CBL split it stock, some strange and probably reversable things happened to its FFO estimates.] Yields fell 41 basis points to 4.02% from May's 4.43%. NaREITs Mall sector numbers: Up 12.52% [large caps SPG and GGP did well] year-to-date with a yield of 3.91%. The year-to-date Health Care sector price performance rose to a gain of 2.97% from May's loss of 1.33%. 05 FFO growth estimates ended June with a fall to 1.61% vs. May's fall of 1.61%. Yields fell 20 basis points to 6.09% from May's 6.29%. NaREITs Health sector numbers: Up 4.06% year-to-date with a yield of 6.15%. This is the first month for this update to contain a Hospitality sector section. The Hospitality sector price performance rose 4.82% for the month to a year-to-date loss of 0.64%. 05 FFO growth estimates ended June with a rise to 0.31% year-to-date. Yields fell to 5.32%. NaREITs Lodging sector numbers: Up 2.66% year-to-date with a yield of 3.20%. I omit two large caps - BOY and FCH - from my numbers because they are losing money and thus not paying a dividend. The changes in year-to-date returns and yields were skewed upwards in the Office sector by the purchase of CRO by non-REIT DRA Advisors, in the Industrial sector by the purchase of CDX by PLD, and in the Apartment sector by the purchase of GLB by an investment division of non-REIT ING. During June, the year-to-date Office sector price performance rose to a gain of 0.49% from May's loss of 3.96%. 05 FFO growth estimates ended June with a fall to -3.91% vs. May's fall of -4.29%. Yields fell 21 basis points to 5.62% from May's 5.83%. NaREITs Office sector numbers: Up 8.44% [large caps EOP, BXP, VNO did well] year-to-date with a yield of 5.20%. The year-to-date Industrial sector price performance rose to a gain of 1.53% from May's loss of 3.72%. 05 FFO growth estimates ended June with a fall to -0.68% vs. May's fall of 0.65%. Yields fell 18 basis points to 4.48% from April's 4.66%. NaREITs Induistrial sector numbers: Up 0.45% year-to-date with a yield of 4.08% - both numbers drug lower by cap weighting PLD's numbers. The year-to-date Apartment sector price performance rose to a gain of 4.05% from May's loss of 3.17%. 05 FFO growth estimates ended June rising to 0.28% vs. May's fall of -0.17%. Yields fell 36 basis points to 5.04% from April's 5.40%. NaREITs Apartment sector numbers: Up 5.19% year-to-date with a yield of 4.75%. In the three other equity income segments followed by this site, Pipeline MLPs were up 7.79% year-to-date [vs being up 3.21% at May's end] and had a distribution yield of 6.03% [vs 6.16% in May] - a rise of 12 basis points. Large-cap banks fell to a loss of 5.96% from May's loss of 5.59% and yields rose 1 basis point to 3.58% from May's 3.57%. Mid-cap banks rose to a year-to-date loss of 3.78% from May's loss of 5.98% and yields ended at 3.46% [vs May's 3.56% - a rise of 10 basis points]. The ten year treasury ended the month at 3.92% [vs 4.00% on 5-31 - a fall of 8 basis points]. The Dow Jones industrial average ended the first half Thursday down 4.7% for the year. The Nasdaq Stock Market composite index was down 5.4%. The Standard & Poor's 500-stock index was off 1.7%. Overall, U.S. diversified equity funds gained a modest 2.32% in Q2 after falling 2.52% in Q1, according to Lipper, and are now just below even for the year. The Price to Revenue INDEX figures, due to rounding errors, are not accurate to 3 digits - and as of 3-31-05 are off by a margin of about 5 percent - and I have yet to find the problem. Javascript is expected to be accurate to 5 digits when the calculation is simply x times y. But the complexity of the formula - or a large number of calculations to determine a result - can decrease the number of digits of accuracy. Click here for the Shopping Center, Mall, and Health Care Update page. This months article updates are here. |