The Wall Street Journal reported today that REIT’s have just finished their best quarter ever. The Dow Jones Equity All REIT Total Return Index which tracks all 114 publically traded REIT’s rose 28% in Q2, its largest quarterlt gain since its inception in 1989.
Seven companies had quarterly gains of over 100% !!
AND STILL these gains have not reversed the drops suffered in the last year.
Here is a great quote:
“If you start low enough, it’s amazing what can happen to your stock.” Jon Bortz of LaSalle Hotel Properties.
The biggest winners were hotel REIT’s … up 73.8%.
My big question is … is this a sign of the market bottom or just the bottom of investor sentiment … hang on and we will all find out.
