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Yahoo Daily #s Office Industrial Apartment Retail Mall Health Care Hospitality NAREIT Index Factoids MLP Stats Bank Stats Prior REIT Updates July 05 July Off/Ind/Apt July Retail/Hlth Care June 05 June Off/Ind/Apt June Retail/Hlth Care May 05 May Off/Ind/Apt May Retail/Hlth Care April 04 April Off/Ind/Apt April Retail/Hlth Care March 04 March Off/Ind/Apt March Retail/Hlth Care Feb 04 Feb Off/Ind/Apt Feb Retail/Hlth Care Jan 04 Jan Off/Ind/Apt Jan Retail/Hlth Care Dec 04 Jan Off/Ind/Apt Jan Retail/Hlth Care Nov 04 Nov Off/Ind/Apt Nov Retail/Hlth Care Oct 04 Oct Off/Ind/Apt Oct Retail/Hlth Care Sept 04 Sept Off/Ind/Apt Sept Retail/Hlth Care Aug 04 Aug Off/Ind/Apt Aug Retail/Hlth Care July 04 July Off/Ind/Apt July Retail/Hlth Care June 04 June Off/Ind/Apt June Retail/Hlth Care May 04 May Off/Ind/Apt May Retail/Hlth Care April 04 April Off/Ind/Apt April Retail/Hlth Care March 04 March Off/Ind/Apt March Retail/Hlth Care Feb 04 Feb Off/Ind/Apt Feb Retail/Hlth Care Jan 04 Jan Off/Ind/Apt Jan Retail/Hlth Care 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 REIT Links CPN Globe St. ICSC Real Estate Journal Reis ReBuz RSR NaREIT NREI Property ICSC REIT Week NAIOP ShopCntrsToday ShopCntrWrld Biz Links Business News Columnists Econ Reports Stock Exchanges Searches Tax News |
The Shopping Center sector fell 4.19% in August to a gain year-to-date of 2.00% from June's gain of 6.53%. 05 FFO growth estimates ended August with a fall to 0.49% vs. July's fall of 0.55%. Yields rose 23 basis points to 5.01% from July's 4.78%. NaREITs Shopping Center sector numbers [where large caps and low yielders dominate NaREIT stats] was down 3.16% for the month with a 8.23% gain year-to-date and a yield of 4.43% vs. July's 11.76% year-to-date gain with a yield of 3.95% [a rise of 48 basis points - which must mean there is an error somewhere in those NAREIT figures because they are so our of line with the rest of the sector]. The Mall sector fell 6.38% in July [with smaller caps GRT and MLS falling the most and thus causing a logical seperation between my stats and NaREIT stats] to a year-to-date gain of 7.61% from July's gain of 15.33% gain year-to-date. 05 FFO growth estimates ended August with a rise to 3.85% vs. July's 3.43%. Yields rose 31 basis points to 4.26% from July's 3.95%. NaREITs Mall sector numbers were down 4.81% for the month and up 16.79% year-to-date with a yield of 3.79% vs. July's 22.70% year-to-date gain with a yield of 3.58% [a rise of 21 basis points]. The Health Care sector fell 6.81% in August to a gain of 0.76% year to date from July's gain of 8.20%. 05 FFO growth estimates ended August with a fall to -2.01% vs. July's -2.95%. Yields rose 44 basis points to 6.42% from July's 5.98%. NaREITs Health sector numbers: Down 3.59% for the month [only 2 of the 10 REITs in MY Health Care sector fell less than 3.6% - so I have no idea how NARIET calculated a fall so small] and up 5.89% year-to-date with a yield of 6.10% vs July's 9.83% year-to-date increase with a yield of 5.89% [a rise of 21 basis points - a rise that I believe is understated because the fall in prices is understated]. The Hospitality sector fell 2.05% for the month to a year-to-date gain of 2.80% vs. July's 5.05% year to date performance. 05 FFO growth estimates ended June with a rise of 0.28% year-to-date vs July's 0.37%. Yields rose 11 basis points to 5.13% vs July's 5.02% . NaREITs Lodging sector numbers: Down 3.51% for the month and up 4.53% year-to-date with a yield of 3.70% vs July's 9.83% year-to-date increase with a yield of 3.57%. I only use REITs that are paying dividends in my stats - while NaREIT uses all Hospitality REITs - some of which are still not paying dividends. This explains the big difference in yields and some of the difference in price performance. During August, the year-to-date Office sector fell 3.37% to a gain of 3.70% year to date from July's year to date gain of 7.14%. 05 FFO growth estimates ended August with a fall to -10.86% vs. July's fall of -5.24% [with AMV and GLB having huge FFO estimate downgrades that distorted this number]. Yields rose 21 basis points to 5.51% from July's 5.30%. NaREITs Office sector numbers: Down 4.10% for the month and up 11.35% year to date [with a yield of 5.07%] vs. July's 16.11% gain and 4.86% yield [a rise of 21 basis points]. Large caps EOP, BXP and VNO are up big vs. the sector - thus there is a logical reason for the differentiation between my stats and NaREIT's cap weighted stats. The Industrial sector fell 3.00% for the month, to a gain of 4.69% year to date [after being up 6.26% in July alone] from July's gain of 7.85% year to date. 05 FFO growth estimates ended August with a fall to -0.25% vs. July's fall of 0.68%. Yields rose 15 basis points to 4.39% from July's 4.24%. NaREITs Induistrial sector numbers: Down 3.55% for the month and up 5.70% year-to-date with a yield of 3.91% vs. July's 9.58% year-to-date increase and yield of 3.76% [a rise of 15 basis points]. The year-to-date Apartment sector fell 5.66% for the month to a gain of 4.50% year to date from July's year to date gain of 10.74%. 05 FFO growth estimates ended August rising to 0.06% vs. July's rise of 0.38%. Yields rose 30 basis points to 5.05% from July's 4.75%. NaREITs Apartment sector numbers: Down 5.52% for the month and up 8.16% year-to-date with a yield of 4.70% vs. July's 14.48% year-to-date rise with a yield of 4.42% [a rise of 28 basis points]. In the three other equity income segments followed by this site, Pipeline MLPs down 3.76% for the month and up 9.90% year-to-date [vs being up 14.20% at July's end] and had a distribution yield of 6.10% [vs 5.87% in July] - a rise of 23 basis points. During August, large-cap banks fell 1.62% to a loss of 6.20% year to date, from July's loss of 4.65% and yields rose 17 basis point to 3.71% from July's 3.54%. Mid-cap banks fell 2.74% to a year-to-date loss of 2.71% from July's gain of 0.13% and yields ended at 3.44% [vs July's 3.32% - a rise of 12 basis points]. The ten year treasury ended the month at 4.02% [vs 4.28% on 7-29 - a fall of 26 basis points]. August Mid-Month Stats In the first week of the month, UBS analyst Chris Pike downgraded 15 REITS [ESS, REG, NHP, CBL, PNP, AVB, IRC, HME, PEI, HTG, LRY, BRE, GGP, TCO, EQY] because "valuations are stretched on several metrics". The second week brought with it a very negative REIT feature article in Barrons. The Shopping Center sector fell 4.95% in the first two weeks of August [vs. being down 3.32% for the month last week]. Yields rose 26 basis points to 5.04% from 4.78% at July's close. The Mall sector fell 7.77% in the first two weeks of August [vs. being down 6.24% last week]. Yields rose 36 basis points to 4.31% from 3.95% at July's close. The Health Care sector fell 6.81% in the first two weeks of August [vs. being down 3.71% last week]. Yields rose 44 basis points to 6.42% from 5.98% at July's close. The Hospitality sector fell 4.37% for the first two weeks of August [vs. being down 4.51% last week]. Yields rose 22 basis points to 5.24% from 5.02% at July's close. For the first week of August, the Office sector fell 5.38% [vs. being down 4.88% last week]. Yields rose 33 basis points to 5.63% from 5.30% at July's close. The Industrial sector fell 5.04% [vs. being down 4.89% last week] and yields rose 24 basis points to 4.48% from 4.24% at July's close. The Apartment sector fell 6.59% for the month [vs. being down 5.53% last week] and yields rose 33 basis points to 5.08% from 4.75% at July's close. |