Calvin Schnure

Many of the 19.6 million employees who continue to telecommute because of the pandemic are likely to return to the office in the first half of next year.

REIT share prices were little changed last week, with the FTSE Nareit All Equity REITs Index total return edging down 0.3%.

Broader markets also fell, with a decline of 2.2% on both the Russell 1000 and the S&P 500.

REITs edged lower last week, with a total return of -1.0% on the FTSE Nareit All Equity REITs Index.

REITs remain well into positive territory for 2021, however, with year-to-date returns of 26.6% on the All Equity REITs Index.

Acquisition activity in the second quarter was robust across most property sectors.

Last week’s increase brought the year-to-date return to 32.0%. 

Total payroll employment rose 235,000 in August, the slowest since last January and far behind the monthly average of 636,000 between January and July.

REITs have increased seven out of the past eight weeks.

Data centers, infrastructure, and self storage REIT sectors all had weekly returns exceeding 2.0%.

Total retail sales fell 1.1% in July, a larger-than-expected decline that signals some important shifts in the underlying landscape for retail sales.

Broader markets rose, with a 0.6% return on the Russell 1000 and a 0.8% return on the S&P 500.