The recently created Greenwood Small-Cap REIT Index declined 5.42% in the first quarter, according to The Greenwood Group LLC, Chicago.The move resulted from a 6.69% decrease in the stock prices of 50 real estate investment trusts tracked by the index that was partially offset by a 1.27% dividend-related increase, the company said. "While systemic factors including rising interest rates and supply/demand disequilibrium affect commercial real estate regardless of corporate size or structure, company-specific cash flow issues disproportionately impact smaller REITs and those with fewer capital market options," said Louis G. Conforti, Greenwood's managing member. The company can be found online at http://www.greenwoodllc.com.
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