After many days of serious selling pressure, real estate investment trusts (REITs) found eager and willing buyers on Sept. 28.
Several of the major REITs gained in price by 3% or more, a significant upward move considering the recent downswings. Whether the overall trend lower remains in place is a concern for investors.
MARKET UPDATE
Global fixed income and equity markets rallied yesterday on UK intervention
Strong, broad rally
Short-lived?
BOE's move doesn't address fundamental challenges
Euro stocks pared gains
Bonds creeping higher
As the Vanguard Real Estate ETF (ARCA:VNQ) is down roughly 31% year-to-date, real estate investment trusts are being beaten down as the sector continues to decline.
Origin Protocol, a Web3 pioneer in NFTs and DeFi, has partnered with the online real estate investment platform Roofstock to bring blockchain innovation to the real estate industry.
Almost every sub-sector of REITs has been hit hard in 2022 as inflation and recession worries have taken their toll on markets.
Hotel REITs have been one of the worst REIT performers during this time. Many in the group are down 40% or more and several of these hotel REITs have recently touched 52-week lows.
The effects of rising interest rates continue to hit markets and none more so than in the mortgage sector. The amount of selling lately, for example, in Annaly Capital Management Inc. (NYSE: NLY) is remarkable for its extraordinary downward pressure on price levels.