While a rising tide usually helps to raise all ships, conversely, sharp rises in short-term interest rates tend to sink shares in the REIT sector.
However, after Mr. Market finished parsing the latest Fed pronouncement by Chairman Janet Yellen, REIT investors were thrilled to see that there were some benign signals mixed into the message.
The iShares Dow Jones US Real Estate (ETF) (NYSE: IYR) and the Vanguard REIT Index Fund (NYSE: VNQ) are both popular funds that reflect broad REIT sector performance.
5 Top REIT Movers
These REITs may have just celebrated St. Patrick's Day a day late, since the entire sector was wearing green at the close of trading Wednesday.
- Pennsylvania R.E.I.T. (NYSE: PEI) – $1.6 billion cap, 3.6 percent yield, (Malls)
- Post Properties Inc (NYSE: PPS) – $3.1 billion cap, 2.8 percent yield, (Apartments)
- Health Care REIT, Inc. (NYSE: HCN) – $26.6 billion cap, 4.3 percent yield
- Gramercy Property Trust Inc (NYSE: GPT) – $1.3 billion cap, 2.8 percent yield, (Net-Lease)
- Sabra Health Care REIT Inc (NASDAQ: SBRA)(NASDAQ: SBRAP) – $1.9 billion cap, 4.5 percent yield
Micro-cap REITs were not included for consideration.
Notably, the healthcare REIT sector is notoriously sensitive to which way the interest rate winds are blowing.
However, investors could have easily overlooked the news catalysts for both Penn REIT and Gramercy ...
/www.benzinga.com/trading-ideas/long-ideas/15/03/5339262/reits-rejoice-on-fed-remarks-were-these-top-gainers-driven-by alt=REITs Rejoice On Fed Remarks: Were These Top Gainers Driven By News?>Full story available on Benzinga.com
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