Chris Hudgins

While the Dow Jones Equity All REIT index continued to tick upwards during the recent week, up a slight 0.30%, the S&P 500 posted a strong 1.59% increase for the week.

All Dow Jones US real estate property sector indexes logged declines this past week, while the broader stock market indexes recorded gains.

The Dow Jones Equity All REIT index grew 0.71% over the recent week, compared to a 0.31% drop for the S&P 500.

The Hawaii-focused real estate investment trust's share price jumped 37.52% over the week following its $2.3 billion take-private announcement.

Six M&A deals involving publicly traded equity real estate investment trusts were announced in the second half of the year, totaling $16.28 billion.

Low valuations and general macroeconomic uncertainty were headwinds for new real estate investment trust IPOs in 2025.

The Dow Jones Equity All REIT index closed the first quarter with a 3.8% total return, outperforming the negative 4.3% return for the S&P 500.

A total of 33 US real estate investment trusts raised $4.15 billion in aggregate proceeds under their at-the-market offering programs during the first quarter.

All four analyzed property types — apartment, industrial, office and retail — recorded an increase in aggregate transaction value over the last-12-months ended March 31, compared with both full year 2025 and the year-ago period.

Among the Dow Jones US real estate property sector indexes, the healthcare REIT index led the pack with a 5.10% gain, followed closely by the office REIT index, up 4.86%.