REITs Outperform S&P 500 in 1Q

Equity real estate investment trusts easily outperformed the S&P 500 in the first quarter, according to SNL Financial, a Charlottesville, Va.-based research firm.Equity REITs recorded total returns of 1.2%, compared with a 3.2% decline for the S&P 500, the company reported. SNL said the REIT performance can be attributed chiefly to a strong showing by retail REITs, which boasted an average total return of 7.7%. "Continued strong consumer confidence has kept these REITs' tenants relatively healthy into the first quarter," SNL said. Among other REIT sectors, industrial REITs averaged a 2.3% total return and office REITs returned 1.7%, while total returns for apartment REITs declined 1.1% and hotel REIT returns dropped 18.3%, SNL said. The company can be found online at http://www.snl.com.