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Real Estate ETF (IYR) Hits New 52-Week High

Sanghamitra Saha

For investors seeking momentum, iShares US Real Estate ETF IYR is probably on radar now. The fund just hit a 52-week high, which is up roughly 17.95% from its 52-week low price of $71.27/share.

But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:

IYR in Focus

The fund looks to the price and yield performance of Dow Jones U.S. Real Estate Index. The fund has American Tower, Simon Property Group and Crown Castle International REIT as its top three holdings. It charges 43 bps in fees (see all Real Estate ETFs here).

Why the Move?

Dovish Fed comments have kept long-term U.S. Treasury bond yields at subdued level this year. This boosted rate-sensitive sectors like real estate.

More Gains Ahead?

The fund has a Zacks Rank #3 (Hold). Also, the fund has a positive weighted alpha of 14.90, which hints at more gains. So, there is definitely still some promise for those who want to ride on this surging ETF a little longer.

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iShares U.S. Real Estate ETF (IYR): ETF Research Reports
 
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