Developers cautioned that investors should stay away from commercial office-focused REITs as the pandemic-driven shift to flexible working environments has proved enduring. Kastle Systems, which runs a widely-cited “Back To Work” barometer, announced in June that office capacity had hit a ceiling, and that offices will likely stay less than 50% occupied by workers for the foreseeable future.
SL Green Realty, one of New York City’s largest commercial REITs, continued to see its stock price decline over the month of June. It’s fallen 22% since the end of May.
Real estate platform ZeroDown compiled a list of the best-performing REITs in June, using data from IEX Cloud. Stocks are ranked based on total returns, including dividends. All REITs based in the U.S. listed on Nareit were considered. REITs, short for real estate investment trusts, are companies that own and operate income-producing properties such as residential, office buildings, retail, or timberland. To qualify as a REIT, the company must distribute 90% of taxable income to shareholders.
– June total return: +0.3%
— Price change: -0.3%
— Dividends: $1.05
– REIT type: Industrial REITs
– June total return: +0.3%
— Price change: -0.2%
— Dividends: $1.43
– REIT type: Infrastructure REITs
– June total return: +0.4%
— Price change: +0.1%
— Dividends: $0.25
– REIT type: Retail REITs
– June total return: +1.0%
— Price change: -0.5%
— Dividends: $0.28
– REIT type: Health Care REITs
– June total return: +1.0%
— Price change: +1.0%
— Dividends: $0.00
– REIT type: Office REITs
– June total return: +4.0%
— Price change: +2.5%
— Dividends: $0.90
– REIT type: Health Care REITs
– June total return: +4.0%
— Price change: +4.0%
— Dividends: $0.00
– REIT type: Industrial REITs
– June total return: +4.0%
— Price change: +3.7%
— Dividends: $0.23
– REIT type: Retail REITs
– June total return: +6.0%
— Price change: +6.0%
— Dividends: $0.00
– REIT type: Lodging/Resorts REITs
– June total return: +9.3%
— Price change: +8.5%
— Dividends: $0.22
– REIT type: Industrial REITs