Traffic Patterns
Oct 1, 2007 12:00 PM
REIT Rebound
REITs — especially retail REITs — posted an impressive rebound in August after six months of weak results. Shopping center and freestanding retail REITs had their best month in 2007. Regional mall REITs had their second best month of the year. Total returns for retail REITs were down 4.81 percent year-to-date as of the end of August. As of press time, September was looking to be another good month — pushing REITs back into positive territory for the year.
|
| Jan. | Feb. | Mar. | Apr. | May | June | July | Aug. | YTD |
|---|---|---|---|---|---|---|---|---|---|
| All Retail | 10.49 | 0.35 | -0.97 | 1.05 | -4.14 | -11.79 | -7.38 | 9.56 | -4.81 |
| Shopping Centers | 8.22 | 0.25 | -1.92 | 0.22 | -2.75 | -12.90 | -6.40 | 11.36 | -5.85 |
| Regional Malls | 13.44 | 0.81 | -0.45 | 1.93 | -5.79 | -11.35 | -8.39 | 7.83 | -4.26 |
| Free Standing | 3.42 | -3.01 | 1.46 | -1.19 | 1.53 | -8.09 | -5.19 | 12.14 | -0.23 |
| All REITS | 8.42 | -2.24 | -2.39 | -0.02 | 0.05 | -9.07 | -7.80 | 6.57 | -7.53 |
| Source: NAREIT | |||||||||
A Look through stock prices
Most retail REITs are still down for the year, but after some companies hit 52-week lows, stock prices have begun to creep upwards.
|
| Symbol | Price* | 52-week High | Chg | 52-week Low | Chg | 31-Dec-06YTD | Chg |
|---|---|---|---|---|---|---|---|---|
| PREIT | PEI | $43.97 | $50.39 | -12.74% | $37.48 | 17.32% | $39.38 | 11.66% |
| Acadia Realty Trust | AKR | $26.69 | $28.75 | -7.17% | $21.92 | 21.76% | $25.02 | 6.67% |
| Kite Realty Group | KRG | $19.10 | $21.80 | -12.39% | $14.13 | 35.17% | $18.62 | 2.58% |
| General Growth Properties | GGP | $52.75 | $67.43 | -21.77% | $42.56 | 23.94% | $52.23 | 1.00% |
| Equity One Inc. | EQY | $26.46 | $29.51 | -10.34% | $20.25 | 30.67% | $26.66 | -0.75% |
| Taubman Centers | TCO | $50.15 | $63.87 | -21.48% | $36.69 | 36.69% | $50.86 | -1.40% |
| Glimcher Realty Trust | GRT | $25.73 | $29.69 | -13.34% | $23.08 | 11.48% | $26.71 | -3.67% |
| The Macerich Co. | MAC | $83.10 | $103.59 | -19.78% | $67.90 | 22.39% | $86.57 | -4.01% |
| Capital Lease Funding | LSE | $11.13 | $12.21 | -8.85% | $10.16 | 9.55% | $11.60 | -4.05% |
| Tanger Factory Outlet Centers | SKT | $37.42 | $43.56 | -14.10% | $30.30 | 23.50% | $39.08 | -4.25% |
| Ramco-Gershenson Properties Trust | RPT | $35.83 | $39.55 | -9.41% | $26.17 | 36.91% | $38.14 | -6.06% |
| Agree Realty Corp. | ADC | $32.23 | $36.46 | -11.60% | $31.14 | 3.50% | $34.37 | -6.23% |
| Simon Property Group | SPG | $94.95 | $123.96 | -23.40% | $79.07 | 20.08% | $101.29 | -6.26% |
| Realty Income Corp. | O | $25.33 | $30.36 | -16.57% | $21.25 | 19.20% | $27.70 | -8.56% |
| Inland Real Estate Corp. | IRC | $17.01 | $21.14 | -19.54% | $13.83 | 22.99% | $18.72 | -9.13% |
| Federal Realty Investment Trust | FRT | $76.84 | $98.92 | -22.32% | $66.05 | 16.34% | $85.00 | -9.60% |
| Weingarten Realty Investors | WRI | $41.39 | $52.30 | -20.86% | $37.06 | 11.68% | $46.11 | -10.24% |
| Urstadt Biddle Properties Inc. | UBA | $17.13 | $19.73 | -13.18% | $14.62 | 17.17% | $19.09 | -10.27% |
| Regency Centers Corp. | REG | $70.10 | $93.49 | -25.02% | $59.18 | 18.45% | $78.17 | -10.32% |
| Feldman Mall Properties | FMP | $11.14 | $13.00 | -14.31% | $10.10 | 10.30% | $12.45 | -10.52% |
| Vornado Realty Trust | VNO | $109.23 | $136.55 | -20.01% | $93.53 | 16.79% | $122.35 | -10.72% |
| Cedar Shopping Centers Inc. | CDR | $14.18 | $18.42 | -23.02% | $13.84 | 2.46% | $15.91 | -10.87% |
| Kimco Realty Corp. | KIM | $39.17 | $53.60 | -26.92% | $35.07 | 11.69% | $44.95 | -12.86% |
| CBL & Associates Properties | CBL | $36.80 | $50.36 | -26.93% | $36.06 | 2.05% | $43.35 | -15.11% |
| Developers Diversified Realty Corp. | DDR | $52.11 | $72.33 | -27.96% | $49.27 | 5.76% | $62.95 | -17.22% |
| Cousins Properties Inc. | CUZ | $29.16 | $40.75 | -28.44% | $28.62 | 1.89% | $35.27 | -17.32% |
| Saul Centers | BFS | $45.12 | $61.70 | -26.87% | $36.74 | 22.81% | $55.19 | -18.25% |
| Colonial Properties Trust | CLP | $36.05 | $51.69 | -30.26% | $35.36 | 1.95% | $46.88 | -23.10% |
| * As of 9/25/2007 | ||||||||
| Source: Retail Traffic | ||||||||
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