The State Of REITs: November 2024 Edition

REIT Performance The REIT sector's 5-month winning streak came to an end in October with a -3.42% average total return. REITs were deeper in the red than the broader market, underperforming the NASDAQ (-0.5%), S&P 500 (-0.9%) and Dow Jones Industrial Average (-1.3%) in October. The market cap weighted Vanguard Real Estate ETF (VNQ) narrowly outperformed the average REIT in October (-3.36% vs. -3.42%) and has solidly outperformed year-to-date (+9.72% vs. +6.48%). The spread between the 2024 FFO multiples of ...