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REIT ETF (ICF) Hits a 52-Week High

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Sanghamitra Saha
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For investors seeking momentum, iShares Cohen & Steers REIT ETF (ICFis probably on radar. The fund just hit a 52-week high, and is up 29.4% from its 52-week low price of $91.14 per 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:

ICF in Focus

The underlying Cohen & Steers Realty Majors Index consists of selected REITs. The objective of the index is to represent relatively large and liquid REITs that may benefit from future consolidation and securitization of the U.S. real estate industry. The fund charges 34 bps in fees and yields about 2.47% annually. 

Why the Move?

Since markets have been volatile lately and there was a bloodbath in the global market at the start of August owing mainly to renewed U.S.-China trade tensions and China’s yuan devaluation. Though heightened tensions abated a bit, global slowdown concerns are still rife. Bond yields have been hovering at lower levels. This is a great scenario for REIT ETFs as these perform better in a low-rate environment.

More Gains Ahead?

The fund has a positive weighted alpha of 16.20. So, there is definitely still some promise for those who want to ride on this surging ETF a little longer, especially if uncertainty prevails.

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iShares Cohen & Steers REIT ETF (ICF): ETF Research Reports
 
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