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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 Aug 05 Aug Off/Ind/Apt Aug Retail/Hlth Care 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 0.18% in September to a gain year-to-date of 1.18% from August's gain of 2.00%. 05 FFO growth estimates ended September with a fall to 0.59% vs. August's fall of 0.49%. Yields rose 5 basis points to 5.06% from August's 5.01%. NAREIT's Shopping Center sector numbers [where large caps that are also the lower yielding components dominate NAREIT stats] was down 1.07% for the month with a 7.07% gain year-to-date and a yield of 4.52% vs. August's 8.23% year-to-date gain with a yield of 4.43% [a rise of 9 basis points]. The Mall sector fell 3.22% in September to a year-to-date gain of 4.31% from August's gain of 7.61% gain year-to-date. 05 FFO growth estimates ended September with a rise to 3.93% vs. August's 3.85%. Yields rose 16 basis points to 4.42% from August's 4.26%. NAREIT's Mall sector numbers were down 2.08% for the month and up 14.36% year-to-date with a yield of 3.87% vs. August's 16.79% year-to-date gain with a yield of 3.79% [a rise of 8 basis points]. The Health Care sector rose 3.51% in September [after having an atypically bad August in which the sector fell 6.81%] to a gain of 4.32% year to date from August's gain of 0.76%. 05 FFO growth estimates ended September with a fall to -1.96% vs. August's -2.01%. Yields fell 20 basis points to 6.22% from August's 6.42%. NAREIT's Health sector numbers: Up 1.26% for the month and up 7.22% year-to-date with a yield of 5.17% vs. August's 5.89% year-to-date increase with a yield of 6.10% [this data concerning the change in yield does not appear logical, but I have yet to find the error in it]. The Hospitality sector fell 2.63% for the month to a year-to-date gain of .11% vs. August's 2.08% year to date performance. 05 FFO growth estimates ended September with a fall of 0.24% year-to-date vs. August's 0.28% RISE. Yields rose 16 basis points to 5.29% vs August's 5.13%. NAREIT's Lodging sector numbers: Down 1.50% for the month and up 2.96% year-to-date with a yield of 2.96% vs. August's 4.53% year-to-date increase with a yield of 3.70%. 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 September, the Office sector rose 1.26% to a gain of 4.99% year-to-date from August's year-to-date gain of 3.70%. 05 FFO growth estimates ended September with a fall to -10.63% vs. August's fall of -10.86%. Yields fell 6 basis points to 5.45% from July's 5.51%. NAREITs Office sector numbers: Up 1.96% for the month and up 13.53% year to date [with a yield of 5.05%] vs. August's 11.35% gain and 5.07% yield [a fall of 2 basis points]. There is a large difference between my numbers and NARIET's numbers -- but large caps BXP, EOP and VNO have done much better than average -- helping the cap weighted NAREIT index. At the same time small caps AFR, AMV, BED, GLD and PKY have fallen, dragging down the non-cap-weighted numbers. Based on the numbers from this site, the Office sector had a yield spread over the ten year treasury of 112 basis points at September's end, 113 points at August's end, 102 at July's end, 171 at June's end, 183 at May's end, and 170 at April's end. Improving fundamentals may justify the shrinking spreads -- but I can not help but feel uncomportable with spreads under 150. The Industrial sector rose 1.78% for the month, to a gain of 6.39% year-to-date from August's gain of 4.69% year-to-date. 05 FFO growth estimates ended September with a fall to -0.16% vs. August's fall of 0.25%. Yields fell 8 basis points to 4.31% from August's 4.39%. NAREIT's Industrial sector numbers: Up 0.40% for the month and up 6.12% year-to-date with a yield of 3.91% vs. August's 5.70% year-to-date increase and yield of 3.91%. The Apartment sector fell 0.73% for the month to a gain of 3.80% year to date from August's year-to-date gain of 4.50%. 05 FFO growth estimates ended September rising to 0.08% vs. August's rise of 0.06%. Yields rose 5 basis points to 5.10% from August's 5.05%. NAREIT's Apartment sector numbers: Up 1.28% for the month and up 9.54% year-to-date with a yield of 4.67% vs. August's 8.16% year-to-date rise with a yield of 4.70% [a fall of 3 basis points]. In the three other equity income segments followed by this site, Pipeline MLPs were up 0.51% for the month and up 10.28% year-to-date [vs being up 9.90% at August's end] and had a distribution yield of 6.07% [vs. 6.10% in August] - a fall of 3 basis points. During September, large-cap banks fell 2.74% to a loss of 8.75% year to date, from August's loss of 6.20% and yields rose 13 basis points to 3.84% from August's 3.71%. Mid-cap banks fell 2.86% to a year-to-date loss of 5.44% from August's loss of 2.71% and yields ended at 3.55% [vs. August's 3.44% - a rise of 11 basis points]. The ten year treasury ended the month at 4.33% [vs 4.02% on 8-31 - a rise of 31 basis points]. |