REITs Continue Rise in January

February 3, 2004 (—Real Estate Investment Trusts (REIT) continued to rise after finishing well in 2003, as the NAREIT Composite increased by 4.3% last month.

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.