After hitting record highs in 2021, U.S. stock indexes briefly slipped into correction territory on Monday, showcasing investor concern ahead of the Federal Reserve's first policy meeting of the year. Real estate investment trusts, facing losses of their own, are not immune. A number of U.S. REIT stocks have suffered losses exceeding 10% in the past month, as the prospect of rising interest rates and ballooning inflation rattles investors. "Investors are resetting their expectations for the value of everything that's tied to interest rates," Green Street Managing Director Dave Brigg told Bisnow Monday. REITs have underperformed so far this year, but not by a meaningful amount, Brigg said. Even so, investors now have a "case of whiplash" because of the recent gyrations.REITs seeing double-digit monthly share price drops include Alexandria Real Estate Equities, down 11.3%, American Tower, down 13.1%, and Read the full story here. |