Just happened to take a look at my watch list of REITs, everything was down TODAY except two:
HPP (office properties) up 0.10%
SBY - spin off of TWO, + 0.45%, single-family properties. (closed today at 15.69, reached its 12-mo low of 15.36 on 8/13/13.
So many reached their 12-mo lows today: ARR (shocked to see it closed at 3.78 today, low was 3.76 earlier today, I started tracking it on 4/15/11 at 7.22, this is brutal), CYS (closed at 6.85, 12-mo low today at 6.82), IVR (closed at 14.44, today and 12-mo low 14.40), NLY (closed at 10.66, low 10.63), TWO (closed at 9.06, low 8.95).
I am so glad I did not own hardly any REITs at this time. The FED has not even announced bond tapering yet and most of the REITs are already tanking, do you believe the damages will stop here or? I feel your hurt though.
I actually believe for some, they may continue going down until reaching or dropping below their previous 12-mo lows especially if the FED does announce bond tapering on Sept.
HCP eeked out a penny gain today, the only one besides SBY on my list. It is definitely ugly right now. The market losses are already more or less pricing in an increase of the 10 year to 3%. I have a feeling the Fed will try to jawbone rates back down without actually announcing that taper is postponed. I think taper will have to start up soon because of other factors. Fed pretends they care about keeping stock market propped up and lots of easy money flowing, but they got bigger issues going on right now with repos. Actually, given how much foreign dumping of treasuries is going on, the repo problem may be held off a while longer.