5 REITs Now Hitting New 2022 Lows
Some real estate investment trusts (REITs) are hitting new year-to-date lows as the effects of Fed Chair Jerome Powell’s hawkish remarks at this year’s Jackson Hole, Wyoming, retreat sink in. His specific references to a “more restrictive policy” and “some pain” suggest higher interest rates than expected and for a longer period than anticipated. Since REITs are generally sensitive to rate hikes, it’s not surprising to see a sell-off in the sector post-Jackson Hole. What is surprising, though, is to see the number of REITs hitting new 2022 lows. Take a look at the daily price charts for these five, a few of which are well-known in the real estate community: Related: This Little Known REIT Has Produced Double Digit Annual Returns For The Past Five Years Welltower Inc. (NYSE: WELL ) Last week’s low of $75.80 is lower than the mid-June lows and the February low. Note how Welltower has traveled from a peak of $98 in April to the new low. That’s a 22% drop in four months, quite a move for the big healthcare facilities …
5 REITs Now Hitting New 2022 Lows
Some real estate investment trusts (REITs) are hitting new year-to-date lows as the effects of Fed Chair Jerome Powell’s hawkish remarks at this year’s Jackson Hole, Wyoming, retreat sink in. His specific references to a “more restrictive policy” and “some pain” suggest higher interest rates than expected and for a longer period than anticipated. Since REITs are generally sensitive to rate hikes, it’s not surprising to see a sell-off in the sector post-Jackson Hole. What is surprising, though, is to see the number of REITs hitting new 2022 lows. Take a look at the daily price charts for these five, a few of which are well-known in the real estate community: Related: This Little Known REIT Has Produced Double Digit Annual Returns For The Past Five Years Welltower Inc. (NYSE: WELL ) Last week’s low of $75.80 is lower than the mid-June lows and the February low. Note how Welltower has traveled from a peak of $98 in April to the new low. That’s a 22% drop in four months, quite a move for the big healthcare facilities …