- On December 31, 2007 during President Bush's second term
- On March 6, 2009, very early in President Obama's first term, which was their lowest point due to the spillover effects resulting from the 2008 financial meltdown, and
- also on the most recent date January 31, 2014.
The historical common stock prices of these companies were obtained from the following two excellent internet resources.... Google Finance and MarketWatch Big Charts.
These 116 US REITs had their average stock prices drop by a massive 61% from December 31, 2007 during President Bush's second Presidential term, to March 6, 2009, very early in President Obama's first term, which was the very lowest point for the overall stock market due to the spillover effects resulting from the disastrous 2008 Financial Meltdown.
But since March 6, 2009, the average stock prices of these same 116 US REITs have increased by a very impressive 308% through January 31, 2014. In real total return terms, the average stock price increase of 308% is markedly understated because it excludes the cash dividends that these REITs paid out.
The REIT Hotel Subsector led the pack here with an average stock market price appreciation for the less than five years since March 6, 2009 of a spectacular 601%.
In addition, three other REIT Subsectors had their average stock market prices more than triple, as follows: REIT Diversified up 394%, REIT Industrials up 382% and REIT Retail up 331%.
All seven REIT Subsectors experienced average stock price increases since March 6, 2009 of more than 100%.
The lowest stock price increase in the REIT Hotel Subsector was a very healthy 286%.
There were four of these 116 US REITs with stock market price increases of more than 10 times since March 6, 2009, led by Newcastle Investment Corp, up a massive 34 times.
Only 4 of these 116 US REITs experienced stock market price declines since March 6, 2009.
In all fairness, the investors in and employees of a clear majority of these these 116 US REITs should be extremely pleased with the very positive impact of actions taken by both the Obama Administration and the US Fed to successfully rescue the US economy from its extremely weakened state caused by the disastrous 2008 US financial meltdown.
The 2008 financial meltdown crushed all US Real Estate and thus it only follows that the US Real Estate Investment Trust sector would plunge. What the Obama Administration and the US Fed did to resurrect the US Real Estate market from the dead was nearly miraculous.
But yet there are still many REIT executives and REIT stockholders who give the US Government little if any credit for this. This cannot be an objective assessment.
Below here are the stock market prices of each of these 116 US REITs on January 31, 2014, on March 6, 2009, and on December 31, 2007, broken down first by REIT Subsector and then sorted by Percentage Increase from March 6, 2009 to January 31, 2014:
| Market | Market | ||||||
| Price | Price | ||||||
| % | % | ||||||
| Change | Change | ||||||
| Market | Market | Market | 3-6-09 | 12-31-07 | |||
| Price | Price | Price | to | to | |||
| Real Estate Investment Trusts (REITs) | 1-31-14 | 3-6-09 | 12-31-07 | 1-31-14 | 3-6-09 | ||
| Diversified | |||||||
| Newcastle Investment Corp | New York | NY | 5.44 | 0.15 | 6.08 | 3416% | -97% |
| iStar | New York | NY | 15.42 | 1.09 | 26.05 | 1315% | -96% |
| Gramercy Property Trust | New York | NY | 5.82 | 0.51 | 24.31 | 1041% | -98% |
| Arbor Realty Trust | Uniondale | NY | 6.87 | 0.65 | 16.11 | 957% | -96% |
| One Liberty Properties | Great Neck | NY | 20.86 | 2.39 | 16.16 | 772% | -85% |
| Lexington Realty Trust | New York | NY | 10.81 | 1.99 | 12.88 | 442% | -85% |
| RAIT Financial Trust | Philadelphia | PA | 8.44 | 1.83 | 25.86 | 361% | -93% |
| Brandywine Realty Trust | Radnor | PA | 14.25 | 3.53 | 17.93 | 304% | -80% |
| Douglas Emmett Inc | Santa Monica | CA | 25.43 | 6.45 | 22.61 | 294% | -71% |
| Corrections Corp America | Nashville | TN | 33.57 | 9.82 | 29.51 | 242% | -67% |
| WP Carey | New York | NY | 59.08 | 18.02 | 33.20 | 228% | -46% |
| Public Storage | Glendale | CA | 157.59 | 48.83 | 73.41 | 223% | -33% |
| Vornado Realty Trust | New York | NY | 91.83 | 29.31 | 87.95 | 213% | -67% |
| American Tower | Boston | MA | 80.88 | 27.28 | 42.60 | 196% | -36% |
| Blackstone Mortgage Trust | New York | ny | 28.06 | 10.10 | 306.50 | 178% | -97% |
| Gladstone Commercial | McLean | VA | 18.65 | 6.79 | 17.54 | 175% | -61% |
| PS Business Parks | Glendale | AZ | 78.57 | 30.21 | 52.55 | 160% | -43% |
| National Retail Properties | Orlando | FL | 33.20 | 12.96 | 23.38 | 156% | -45% |
| Winthrop Realty Trust | Boston | MA | 11.48 | 6.06 | 26.45 | 89% | -77% |
| Cousins Properties Inc | Atlanta | GA | 10.75 | 5.81 | 20.56 | 85% | -72% |
| UMH Properties | Freehold | NJ | 9.45 | 5.25 | 11.77 | 80% | -55% |
| Redwood Trust | Mill Valley | CA | 18.70 | 12.45 | 34.24 | 50% | -64% |
| MFA Financial | New York | NY | 7.29 | 5.32 | 9.25 | 37% | -42% |
| Capstead Moertage Corp | Dallas | TX | 12.62 | 9.49 | 13.19 | 33% | -28% |
| Chimera Investment Corp | New York | NY | 3.12 | 2.50 | 17.88 | 25% | -86% |
| Investors Real Estate Trust | Minot | ND | 8.69 | 8.77 | 8.97 | -1% | -2% |
| Anworth Mortgage Asset | Santa Monica | CA | 4.69 | 5.54 | 8.26 | -15% | -33% |
| Annaly Capital Management | New York | NY | 10.77 | 12.88 | 18.18 | -16% | -29% |
| Average % Change all 28 | 394% | -64% | |||||
| Healthcare Facilities | |||||||
| Medical Properties Trust | Birmingham | AL | 13.27 | 3.04 | 10.19 | 337% | -70% |
| Sabra Health Care REIT | Irvine | CA | 28.93 | 8.24 | 17.17 | 251% | -52% |
| Ventas | Chicago | IL | 62.39 | 20.41 | 45.25 | 206% | -55% |
| National Health Investors | Murfreesboro | TN | 62.97 | 21.84 | 27.90 | 188% | -22% |
| The GEO Group | Boca Raton | FL | 33.48 | 11.75 | 28.00 | 185% | -58% |
| Omega Healthcare Investors | Hunt Valley | MD | 31.94 | 11.89 | 16.05 | 169% | -26% |
| HCP Inc | Long Beach | CA | 39.15 | 16.08 | 34.78 | 143% | -54% |
| LTC Properties | Westlake Village | CA | 37.95 | 16.74 | 25.05 | 127% | -33% |
| Health Care REIT | Toledo | OH | 57.92 | 27.27 | 44.69 | 112% | -39% |
| Healthcare Realty Trust Inc | Nashville | TN | 22.92 | 12.78 | 25.39 | 79% | -50% |
| Universal Health Realty Income | King of Prussia | PA | 42.40 | 25.93 | 35.44 | 64% | -27% |
| Average % Change all 11 | 169% | -44% | |||||
| Hotels/Motels | |||||||
| Strategic Hotels & Resorts | Chicago | IL | 9.31 | 0.77 | 16.73 | 1109% | -95% |
| FelCor Lodging Trust | Irving | TX | 8.16 | 0.94 | 15.59 | 768% | -94% |
| Ryman Hospitality Properties | Nashville | TN | 41.36 | 4.99 | 40.47 | 729% | -88% |
| LaSalle Hotel Properties | Bethesda | MD | 30.76 | 3.91 | 31.90 | 687% | -88% |
| Sunstone Hotel Investors | Aliso Viejo | CA | 12.83 | 2.11 | 18.29 | 508% | -88% |
| Host Hotels & Resorts | Bethesda | MD | 18.39 | 3.54 | 17.04 | 419% | -79% |
| Hersha Hospitality Trust | Philadelphia | PA | 5.43 | 1.35 | 9.50 | 302% | -86% |
| Diamondrock Hospitality | Bethesda | MD | 11.58 | 3.00 | 14.98 | 286% | -80% |
| Average % Change all 8 | 601% | -87% | |||||
| Industrial | |||||||
| CubeSmart | Malvern | PA | 16.48 | 1.50 | 9.16 | 999% | -84% |
| Extra Space Storage | Salt Lake City | UT | 45.66 | 5.18 | 14.29 | 781% | -64% |
| First Industrial Realty Trust | Chicago | IL | 17.16 | 2.51 | 34.60 | 584% | -93% |
| Prologis | San Francisco | CA | 38.76 | 9.72 | 57.56 | 299% | -83% |
| Sovran Self Storage | Williamsville | NY | 67.91 | 17.10 | 40.10 | 297% | -57% |
| Duke Realty | Indianapolis | IN | 15.71 | 4.48 | 26.08 | 251% | -83% |
| BioMed Realty Trust | San Diego | CA | 19.51 | 6.98 | 23.17 | 180% | -70% |
| EastGroup Properties | Jackson | MS | 59.34 | 21.54 | 41.85 | 175% | -49% |
| DCT Industrial Trust | Denver | CO | 7.20 | 2.64 | 9.31 | 173% | -72% |
| Monmouth Real Estate Investment | Freehold | NJ | 9.24 | 5.09 | 8.10 | 82% | -37% |
| Average % Change all 10 | 382% | -69% | |||||
| Office | |||||||
| Boston Properties | Boston | MA | 108.09 | 31.73 | 91.81 | 241% | -65% |
| Kilroy Realty | Los Angeles | CA | 52.80 | 15.52 | 54.96 | 240% | -72% |
| CommonWealth REIT | Newton | MA | 24.58 | 10.88 | 30.92 | 126% | -65% |
| Highwoods Properties | Raleigh | NC | 37.14 | 16.72 | 29.38 | 122% | -43% |
| Liberty Property Trust | Malvern | PA | 36.40 | 16.95 | 28.81 | 115% | -41% |
| Alexandria Real Estate Equities | Pasadena | CA | 70.13 | 32.83 | 101.67 | 114% | -68% |
| First Potomac Realty Trust | Bethesda | MD | 13.06 | 6.46 | 17.29 | 102% | -63% |
| Parkway Properties | Orlando | FL | 17.74 | 9.11 | 36.98 | 95% | -75% |
| Digital Realty Trust | San Francisco | CA | 50.99 | 26.33 | 38.37 | 94% | -31% |
| Mack-Cali Realty | Edison | NJ | 20.23 | 14.63 | 34.00 | 38% | -57% |
| Corporate Office Properties Trust | Columbia | MD | 24.85 | 21.72 | 31.50 | 14% | -31% |
| Franklin Street Properties | Wakefield | MA | 11.99 | 10.80 | 14.80 | 11% | -27% |
| Average % Change all 12 | 109% | -53% | |||||
| Residential | |||||||
| Sun Communities | Southfield | MI | 46.75 | 7.71 | 21.07 | 506% | -63% |
| Apartment Investment & Management | Denver | CO | 27.97 | 4.94 | 29.11 | 466% | -83% |
| Post Properties | Atlanta | GA | 46.93 | 10.15 | 35.12 | 362% | -71% |
| UDR Inc | Highlands Ranch | CO | 24.34 | 7.23 | 19.85 | 237% | -64% |
| Equity Residential | Chicago | IL | 55.38 | 17.09 | 36.47 | 224% | -53% |
| BRE Properties | San Francisco | CA | 59.10 | 18.28 | 40.53 | 223% | -55% |
| Education Realty Trust | Memphis | TN | 9.03 | 2.86 | 11.24 | 216% | -75% |
| Associated Estates Realty | Richmond Heights | OH | 15.97 | 5.35 | 9.44 | 199% | -43% |
| Avalonbay Communities | Arlington | VA | 123.50 | 42.14 | 94.14 | 193% | -55% |
| Essex Property Trust | Palo Alto | CA | 158.37 | 55.19 | 97.49 | 187% | -43% |
| Resource Capital Corp | New York | NY | 5.89 | 2.07 | 9.31 | 185% | -78% |
| Mid-America Apartment Communities | Memphis | TN | 64.54 | 23.71 | 42.75 | 172% | -45% |
| Equity LifeStyle Properties | Chicago | IL | 39.31 | 15.29 | 22.84 | 157% | -33% |
| American Campus Communities | Austin | TX | 34.76 | 15.61 | 26.85 | 123% | -42% |
| Home Properties | Rochester | NY | 55.75 | 25.36 | 44.85 | 120% | -43% |
| Senior Housing Properties Trust | Newton | MA | 22.52 | 11.39 | 22.68 | 98% | -50% |
| Dynex Capital | Glen Allen | VA | 8.06 | 6.90 | 8.87 | 17% | -22% |
| Two Harbors Investment | Minnetonka | MN | 9.83 | 8.77 | 8.38 | 12% | 5% |
| ARMOUR Residential REIT | Vero Beach | FL | 4.11 | 9.53 | 9.05 | -57% | 5% |
| Average % Change all 19 | 192% | -48% | |||||
| Retail | |||||||
| SL Green Realty | New York | NY | 93.77 | 8.69 | 93.46 | 979% | -91% |
| NorthStar Realty Finance | New York | NY | 14.59 | 1.39 | 8.92 | 950% | -84% |
| DDR Corp | Beachwood | OH | 15.67 | 1.52 | 38.29 | 931% | -96% |
| Macerich | Santa Monica | CA | 56.60 | 6.79 | 67.32 | 733% | -90% |
| CBL & Associates Properties | Chattanooga | TN | 16.99 | 2.09 | 23.91 | 713% | -91% |
| Glimcher Realty Trust | Columbus | OH | 8.56 | 1.08 | 14.29 | 693% | -92% |
| Pennsylvania REIT | Philadelphia | PA | 18.65 | 2.47 | 29.68 | 655% | -92% |
| Simon Property Group | Indianapolis | IN | 154.84 | 26.19 | 86.86 | 491% | -70% |
| Taubman Centers | Bloomfield Hills | MI | 65.02 | 13.56 | 49.19 | 379% | -72% |
| Ramco-Gershenson Properties Trust | Farmington Hills | MI | 15.97 | 3.88 | 21.37 | 312% | -82% |
| EPR Properties | Kansas City | MO | 51.08 | 12.79 | 47.00 | 299% | -73% |
| Weingarten Realty Investors | Houston | TX | 28.99 | 8.43 | 31.44 | 244% | -73% |
| Kimco Realty | New Hyde Park | NY | 20.91 | 7.01 | 36.40 | 198% | -81% |
| Hospitality Properties Trust | Newton | MA | 25.70 | 9.09 | 32.22 | 183% | -72% |
| Federal Realty Investment Trust | Rockville | MD | 109.00 | 39.90 | 82.15 | 173% | -51% |
| Realty Income | Escondido | CA | 40.78 | 15.03 | 27.02 | 171% | -44% |
| Tanger Factory Outlet Centers | Greensboro | NC | 33.38 | 13.20 | 18.86 | 153% | -30% |
| Alexander's | Paramus | NJ | 339.83 | 137.82 | 353.25 | 147% | -61% |
| Equity One | North Miami Beach | FL | 22.66 | 9.74 | 23.03 | 133% | -58% |
| Saul Centers | Bethesda | MD | 46.60 | 20.44 | 53.43 | 128% | -62% |
| Kite Realty Group Trust | Indianapolis | IN | 6.45 | 2.93 | 15.27 | 120% | -81% |
| Regency Centers | Jacksonville | FL | 48.14 | 22.02 | 64.49 | 119% | -66% |
| Cedar Realty Trust | Port Washington | NY | 6.31 | 3.32 | 10.23 | 90% | -68% |
| Urstadt Biddle Properties | Greenwich | CT | 18.76 | 10.37 | 15.50 | 81% | -33% |
| Inland Real Estate | Oak Brook | IL | 10.54 | 6.12 | 14.16 | 72% | -57% |
| Retail Opportunity Investments | San Diego | CA | 14.46 | 9.50 | 9.17 | 52% | 4% |
| Washington REIT | Rockville | MD | 23.30 | 15.60 | 31.41 | 49% | -50% |
| Getty Realty | Jericho | NY | 19.00 | 14.30 | 26.68 | 33% | -46% |
| Average % Change all 28 | 331% | -67% | |||||
| Overall Average % Change all 116 | 308% | -61% |
