REITs Nearly 8% Better in August

September 1, 2004 ( - The NAREIT Composite Index rose 7.88% in August and is now up 13.5% for the year on a total return basis.

Strongest among the NAREIT Composite’s components was the Mortgage REIT Index that was up 8.14%, followed by a 7.94% return in   the Equity REIT Index.  The other two components were positive in August as well, with the Real Estate 50 Index return 7.65% and the Hybrid REIT Index returning 5.02%, according to data provided by the National Association of Real Estate Investment Trusts (NAREIT). 

August’s performance of the Composite followed a 0.04% July increase.

By comparison in the broader markets, the S&P 500 ended the month up 0.04%, the Dow Jones Industrial Average finished with a 0.34% showing while the NASDAQ composite finished down 2.61%.