Investing February 3, 2004

REITs Continue Rise in January

February 3, 2004 (PLANSPONSOR.com)—Real Estate Investment Trusts (REIT) continued to rise after finishing well in 2003, as the NAREIT Composite increased by 4.3% last month.
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By comparison, the only major stock market index with better performance in January was the Russell 2000, rising 4.34%.     Dow Jones Industrial Average was up 0.33%, the S&P 500 rose 1.84% and the NASDAQ composite trailed NAREIT composite only slightly, at 3.13%, according to data provided by the National Association of Real Estate Investment Trusts (NAREIT).  

Strongest among the NAREIT Composite’s components was the Mortgage REIT Index that was up 4.95% for the month, followed by a 4.32% return for the Equity REIT Index, a 4.09% gain posted in the Real Estate 50 Index and the smallest growth was the 1.56% return by the Hybrid REIT Index.

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