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Real estate stocks inched up during the week ended March 1, with the Real Estate Select Sector SPDR ETF, which tracks the S&P 500 real estate stocks, closing 2.12% higher at $39.54.
The FTSE Nareit All Equity REITs index rose by 1.77% from last week, while the Dow Jones Equity All REIT Total Return Index gained 1.82%.
Real Estate Management & Development gained the most among subsectors, with the S&P 500 subsector increasing by 3.67% in value.
The stocks especially gained after news on JPMorgan Chase CEO Jamie Dimon trying to ease growing concerns related to commercial real estate loans. There are fears that property owners may not be able to service debt payments, with $929B of outstanding commercial mortgages due this year, and the concerns escalated after the bank, New York Community Bancorp, disclosed a massive provision for credit losses.
Dimon believes commercial real estate issues will only worsen if there is a recession, and a lot of property owners can handle the current level of stress.
XLRE saw net outflows reduce to ~$11.73M during the course of the week from $19.19M, the data solutions provider VettaFi said.
The top performing stocks for the week were Digital Realty Trust (DLR), Iron Mountain (IRM) and American Tower (AMT). Meanwhile, SBA Communications (SBAC) and VICI Properties (VICI) declined the most among S&P 500 real estate stocks.
Here is a look at the subsector performance for the week:
