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Yahoo Daily #s Office Industrial Apartment Retail Mall Triple Net Health Hospitality NAREIT Index Factoids MLP Stats Bank Stats Prior REIT Updates Nov 06 Nov Retail/HC Oct 06 Oct Retail/HC Oct Off/Ind/Apt Sept 06 Sept Retail/HC Sept Off/Ind/Apt Aug 06 Aug Retail/HC Aug Off/Ind/Apt July 06 July Retail/HC July Off/Ind/Apt June 06 June Retail/HC June Off/Ind/Apt 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 REIT Links CPN CSA Globe St. ICSC Real Est. Journal Reis ReBuz RSR NaREIT NREI Property ICSC REIT Cafe REIT Week REIT Net NAIOP ShopCntrsToday ShopCntrWrld Ind & Office Realtors Yahoo Sortable REOC List Yahoo Stock Screen Stock Charts |
The Shopping Center sector rose 3.53% in November to a gain year-to-date of 1.04% from October's loss of 2.44%. 05 FFO growth estimates ended November with a fall of 0.80% vs. September's fall of 0.76%. Yields fell 26 basis points to 5.13% from October's 5.29%. NAREIT's Shopping Center sector numbers were up 4.72% for the month with a 8.04% gain year-to-date and a yield of 4.50%. Based on the numbers from this site, the Shopping Center sector had a yield spread over the ten year treasury [4.49%] of 64 basis points at November's end, 72 basis points at October's end, 73 basis points at September's end, 99 points at August's end, 50 at July's end, 105 at June's end, 118 at May's end, and 115 at April's end. The Mall sector rose 4.20% in November [and that rise was dragged down by MLS' fall] to a year-to-date gain of 5.58% from Oct's gain of 0.76% gain year-to-date. 05 FFO growth estimates ended November with a rise to 0.41% vs. Oct's 2.05% [MLS and GRT estimates fell year to date while the other estimates rose]. Yields fell 16 basis points to 4.51% from Oct's 4.67%. NAREIT's Mall sector numbers were up 5.51% for the month and up 16.29% year-to-date with a yield of 3.97% The Health Care sector fell 0.08% in November to a loss of 0.68% year to date from Oct's loss of 0.63%. Triple Nets' off all stripes performed below REIT sector average in November. 05 FFO growth estimates ended November with a fall to -2.33% vs. Oct's -2.00%. Yields rose 2 basis points to 6.55% from Oct's 6.53%. NAREIT's Health sector numbers: Up 1.30% for the month and up 3.78% year-to-date with a yield of 6.32%. The Hospitality sector rose 0.62% for the month to a year-to-date loss of 0.82% vs. Oct's 1.85% loss. 05 FFO growth estimates ended October with a fall of 2.74% vs. Oct's 0.50%. Yields fell 8 basis points to 5.50% vs Oct's 5.42%. NAREIT's Lodging sector numbers: Up 5.90% for the month and up 6.19% year-to-date with a yield of 4.10%. 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 October, the Office sector rose 3.24% to a gain of 4.57% year-to-date from October's year-to-date gain of 1.10%. 05 FFO growth estimates ended November with a fall to -13.03% vs. Oct's fall of -11.58%. Yields fell 15 basis points to 5.56% from Oct's 5.71%. NAREITs Office sector numbers: Up 3.89% for the month and up 13.99% year to date, with a yield of 5.07%]. Based on the numbers from this site, the Office sector had a yield spread over the ten year treasury of 107 at November's end, 114 at October's end, 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. I feel uncomportable with spreads under 150. The Industrial sector rose 3.44% for the month, to a gain of 7.91% year-to-date from Oct's gain of 4.23%. 05 FFO growth estimates ended November with a fall to -0.60% vs. Oct's fall of 0.47%. Yields fell 13 basis points to 4.40% from Sept's 4.53%. NAREIT's Industrial sector numbers: Up 4.90% for the month and up 11.69% year-to-date with a yield of 3.82%. The Apartment sector rose 2.69% for the month to a gain of 9.82% year to date from Oct's gain of 6.99%. 05 FFO growth estimates ended November rising to 0.21% vs. Sept's rise of 0.21%. Yields fell 12 basis points to 4.74% from Oct's 4.86%. NAREIT's Apartment sector numbers: Up 1.28% for the month and up 9.54% year-to-date with a yield of 4.67%. In the three other equity income segments followed by this site, Pipeline MLPs fell 5.22% for Nov. and were up 1.33% year-to-date [vs being up 6.95% at Oct's end] and had a distribution yield of 6.61% [vs. 6.45% in Oct.] - a rise of 16 basis points. There were follow-up public offerings of MLPs and falling energy prices, which hurt the sector. During November, large-cap banks rose 3.94% to a loss of 1.66% year to date, from Oct's loss of 3.76% and yields fell 14 basis points to 3.57% from October's 3.71%. During November mid-cap banks rose 2.64% to a year-to-date loss of 2.74% and yields ended at 3.48% vs. Oct's 3.53% - a fall of 5 basis points. The ten year treasury ended the month at 4.49% [vs 4.57% on 10-31 - a fall of 8 basis points]. Click here for the Shopping Center, Mall, and Health Care Update page. This months article updates are here. |