January 24, 2024

FTSE Nareit U.S. Real Estate

Index Series Daily Returns
 January 24, 2024

US Treasury Standard & Poors Dow Jones Russell 2000 Total Return Indexes Nasdaq FTSE Nareit All REITs
Date 10-Year Note1 S&P 500 Utilities Industrials 2000 Growth Value Composite Total Price

End of Year Values

2019 1.91 6,553.57 896.67 64,505.48 8,437.98 7,742.66 12,356.85 10,539.04 8,776.18 231.68
2020 0.87 7,759.35 901.01 70,778.10 10,122.27 10,424.12 12,929.50 15,272.97 8,261.85 209.94
2021 1.44 9,986.70 1,060.21 85,602.90 11,622.28 10,719.62 16,584.72 18,660.07 11,556.48 284.61
2022 3.87 8,178.02 1,076.82 79,728.48 9,247.10 7,894.20 14,182.70 12,588.95 8,655.30 205.29
2023 3.89 10,327.83 1,000.56 92,630.57 10,812.53 9,367.13 16,259.97 18,208.50 9,649.18 218.64

End of Month Values

Sep-23 4.57 9,246.74 921.63 81,907.37 9,482.24 8,308.09 14,107.61 16,001.59 8,207.82 188.24
Oct-23 4.91 9,052.31 933.50 80,875.39 8,835.56 7,667.36 13,266.08 15,560.68 7,918.46 181.24
Nov-23 4.35 9,879.02 981.76 88,279.19 9,635.26 8,365.38 14,460.23 17,246.38 8,861.97 202.45
Dec-23 3.89 10,327.83 1,000.56 92,630.57 10,812.53 9,367.13 16,259.97 18,208.50 9,649.18 218.64

End of Week Values

29-Dec-23 3.89 10,327.83 1,000.56 92,630.57 10,812.53 9,367.13 16,259.97 18,208.50 9,649.18 218.64
5-Jan-24 4.05 10,172.75 1,018.96 92,114.52 10,408.92 8,970.75 15,729.72 17,619.99 9,494.91 215.10
12-Jan-24 3.95 10,363.35 999.88 92,437.25 10,409.13 9,028.87 15,634.24 18,164.66 9,564.99 216.62
19-Jan-24 4.14 10,486.44 962.86 93,139.63 10,375.02 9,024.49 15,541.29 18,575.22 9,370.79 212.21

Current Week's Daily Index Values

22-Jan-24 4.10 10,509.44 957.90 93,479.12 10,583.17 9,202.41 15,858.29 18,635.06 9,408.49 213.06
23-Jan-24 4.14 10,540.38 960.11 93,242.09 10,545.23 9,192.33 15,763.57 18,714.72 9,353.57 211.82
24-Jan-24 4.18 10,549.04 946.86 92,998.42 10,468.58 9,112.23 15,670.94 18,782.65 9,221.24 208.82

US Treasury Standard & Poors Dow Jones Russell 2000 Total Return Indexes Nasdaq FTSE Nareit All REITs
Date 10-Year Note1 S&P 500 Utilities Industrials 2000 Growth Value Composite Total Price
Annual Percentage Change
2020 -1.04 18.40 0.48 9.72 19.96 34.63 4.63 44.92 -5.86 -9.38
2021 0.57 28.71 17.67 20.95 14.82 2.83 28.27 22.18 39.88 35.57
2022 2.43 -18.11 1.57 -6.86 -20.44 -26.36 -14.48 -32.54 -25.10 -27.87
2023 0.02 26.29 -7.08 16.18 16.93 18.66 14.65 44.64 11.48 6.50
2024 0.29 2.14 -5.37 0.40 -3.18 -2.72 -3.62 3.15 -4.43 -4.49

Monthly Percentage Change (Including Current Month to Date)

Oct-23 0.33 -2.10 1.29 -1.26 -6.82 -7.71 -5.97 -2.76 -3.53 -3.72
Nov-23 -0.56 9.13 5.17 9.15 9.05 9.10 9.00 10.83 11.92 11.70
Dec-23 -0.46 4.54 1.92 4.93 12.22 11.97 12.45 5.58 8.88 8.00
Jan-24 0.29 2.14 -5.37 0.40 -3.18 -2.72 -3.62 3.15 -4.43 -4.49

Weekly Percentage Change (Including Current Week to Date)

5-Jan-24 0.16 -1.50 1.84 -0.56 -3.73 -4.23 -3.26 -3.23 -1.60 -1.62
12-Jan-24 -0.09 1.87 -1.87 0.35 0.00 0.65 -0.61 3.09 0.74 0.70
19-Jan-24 0.19 1.19 -3.70 0.76 -0.33 -0.05 -0.59 2.26 -2.03 -2.03
24-Jan-24 0.04 0.60 -1.66 -0.15 0.90 0.97 0.83 1.12 -1.60 -1.60

Latest Daily Percentage Change

24-Jan-24 0.04 0.08 -1.38 -0.26 -0.73 -0.87 -0.59 0.36 -1.41 -1.41
Source: FTSE™, Factset, Nareit®.
Notes:
1
Ten-year Treasury Note yield changes in percentage points.
 January 24, 2024

FTSE Nareit All REITs FTSE Nareit Composite FTSE Nareit Real Estate 501 FTSE Nareit All Equity REITs FTSE Nareit Equity REITs FTSE Nareit Mortgage REITs
Returns (%) Dividend Returns (%) Dividend Returns (%) Dividend Returns (%) Dividend Returns (%) Dividend Returns (%) Dividend
Period Total Price Yield2 Total Price Yield2 Total Price Yield2 Total Price Yield2 Total Price Yield2 Total Price Yield2
Annual (including current year to date)
2019 28.07 22.95 4.06 28.21 23.03 4.07 29.22 24.59 3.52 28.66 23.95 3.70 26.00 21.07 3.97 21.33 9.62 9.77
2020 -5.86 -9.38 3.84 -5.98 -9.51 3.84 -2.77 -6.16 3.45 -5.12 -8.40 3.56 -8.00 -11.52 3.86 -18.77 -26.77 8.99
2021 39.88 35.57 2.85 40.02 35.70 2.85 42.29 38.12 2.59 41.30 37.29 2.59 43.24 38.98 2.72 15.64 6.40 8.91
2022 -25.10 -27.87 4.37 -25.02 -27.78 4.35 -24.99 -27.55 4.00 -24.95 -27.46 3.97 -24.37 -27.02 4.15 -26.61 -34.76 13.43
2023 11.48 6.50 4.25 11.52 6.54 4.24 11.28 6.69 3.88 11.36 6.75 3.92 13.73 8.96 4.02 15.35 1.91 11.52
2024 -4.43 -4.49 4.43 -4.45 -4.51 4.43 -4.53 -4.56 4.08 -4.57 -4.62 4.10 -3.82 -3.88 4.18 -1.71 -1.83 11.86
Quarter (including current quarter to date)
2022: Q4 4.51 3.32 4.37 4.49 3.30 4.35 3.89 2.81 4.00 4.14 3.06 3.97 5.24 4.17 4.15 13.60 9.58 13.43
2023: Q1 1.49 0.40 4.46 1.56 0.45 4.43 1.98 0.96 4.06 1.74 0.72 4.07 2.68 1.60 4.25 -2.81 -5.86 13.30
Q2 1.60 0.41 4.44 1.57 0.39 4.42 1.27 0.16 4.08 1.20 0.10 4.08 2.62 1.53 4.20 10.73 7.39 11.86
Q3 -8.04 -9.04 4.82 -8.07 -9.07 4.81 -8.58 -9.48 4.42 -8.33 -9.25 4.44 -7.13 -8.13 4.49 -2.17 -5.12 12.71
Q4 17.56 16.15 4.25 17.60 16.19 4.24 17.86 16.55 3.88 17.98 16.66 3.92 16.22 14.96 4.02 9.55 6.24 11.52
2024: Q1 -4.43 -4.49 4.43 -4.45 -4.51 4.43 -4.53 -4.56 4.08 -4.57 -4.62 4.10 -3.82 -3.88 4.18 -1.71 -1.83 11.86
Month (including current month to date)
2023: Aug -3.27 -3.44 4.47 -3.26 -3.43 4.45 -3.23 -3.38 4.11 -3.33 -3.49 4.12 -3.11 -3.28 4.18 -1.87 -2.21 11.56
September -6.89 -7.63 4.82 -6.93 -7.66 4.81 -7.06 -7.75 4.42 -7.04 -7.70 4.44 -6.80 -7.51 4.49 -4.61 -6.78 12.71
October -3.53 -3.72 5.01 -3.50 -3.69 5.00 -3.16 -3.32 4.58 -3.12 -3.30 4.59 -4.36 -4.50 4.70 -11.53 -11.99 14.39
November 11.92 11.70 4.51 11.97 11.75 4.49 12.20 12.01 4.12 11.86 11.66 4.14 10.56 10.34 4.29 14.36 13.93 12.62
December 8.88 8.00 4.25 8.84 7.96 4.24 8.47 7.64 3.88 8.86 8.05 3.92 9.92 9.10 4.02 8.28 5.96 11.52
January -4.43 -4.49 4.43 -4.45 -4.51 4.43 -4.53 -4.56 4.08 -4.57 -4.62 4.10 -3.82 -3.88 4.18 -1.71 -1.83 11.86
Week (including current week to date)
22-Dec-23 0.33 0.29 4.25 0.32 0.28 4.24 0.26 0.22 3.89 0.27 0.23 3.92 0.00 -0.05 4.03 1.37 1.30 11.24
29-Dec-23 0.66 0.25 4.25 0.66 0.25 4.24 0.79 0.45 3.88 0.76 0.42 3.92 0.73 0.39 4.02 -1.54 -3.53 11.52
5-Jan-24 -1.60 -1.62 4.32 -1.60 -1.62 4.31 -1.55 -1.55 3.95 -1.57 -1.59 3.98 -1.60 -1.63 4.09 -2.28 -2.28 11.79
12-Jan-24 0.74 0.70 4.28 0.75 0.72 4.27 0.77 0.74 3.92 0.69 0.66 3.96 1.17 1.13 4.04 2.20 2.10 11.67
19-Jan-24 -2.03 -2.03 4.37 -2.05 -2.05 4.36 -2.12 -2.12 4.01 -2.08 -2.08 4.04 -1.89 -1.89 4.12 -1.22 -1.23 11.81
24-Jan-24 -1.60 -1.60 4.43 -1.61 -1.61 4.43 -1.68 -1.68 4.08 -1.66 -1.66 4.10 -1.53 -1.53 4.18 -0.37 -0.38 11.86
Historical (compound annual rates at month-end)
1-Year 11.48 6.50 11.52 6.54 11.28 6.69 11.36 6.75 13.73 8.96 15.35 1.91
3-Year 5.31 1.36 5.40 1.45 5.90 2.20 5.70 2.06 7.21 3.39 -0.71 -10.90
5-Year 7.08 3.02 7.13 3.05 8.34 4.53 7.59 3.83 7.39 3.43 -0.71 -10.70
10-Year 7.69 3.41 7.72 3.43 8.51 4.56 7.95 4.05 7.65 3.57 4.04 -6.40
15-Year 10.61 5.94 10.56 5.87 10.87 6.53 10.86 6.73 10.52 6.26 6.59 -4.90
20-Year 7.73 2.92 7.64 2.81 8.52 4.09 8.28 3.96 8.03 3.62 0.57 -10.12
25-Year 9.08 3.57 9.01 3.48 - - 9.47 4.39 9.27 4.12 4.73 -6.85
30-Year 9.12 3.29 9.06 3.22 - - 9.52 4.11 9.36 3.88 5.02 -6.28
35-Year 8.95 2.44 8.90 2.38 - - 9.79 3.84 9.64 3.64 4.46 -7.11
40-Year 8.78 1.85 8.73 1.80 - - 10.24 3.92 10.11 3.75 4.13 -7.39
Source: FTSE™, Factset, Nareit®.
Notes:
1
The FTSE Nareit Real Estate 50™ is designed to measure the performance of larger and more frequently traded REITs.
2
Dividend yield quoted in percent for the period end.
 January 24, 2024

Period to Date Performance (%)

Number Dividend Price Return Total Returns Compound Annual Total Returns (%)
Property Sector/Subsector of REITs Yield 24-Jan-24 24-Jan-24 MTD QTD YTD 1-Year 3-Year 5-Year 10-year

FTSE Nareit All Equity REITs 138 4.10 -1.46 -1.46 -4.57 -4.57 -4.57 -0.50 3.84 5.28 7.26
FTSE Nareit Equity REITs 131 4.18 -1.32 -1.32 -3.82 -3.82 -3.82 1.72 5.51 5.24 6.97
Industrial 11 2.96 -2.04 -2.04 -5.45 -5.45 -5.45 1.23 9.00 14.77 15.32
Office 19 5.16 -0.73 -0.73 -2.99 -2.99 -2.99 -6.80 -8.38 -5.66 0.14
Retail 28 5.05 -1.21 -1.21 -3.14 -3.14 -3.14 1.93 10.63 1.99 3.40
Shopping Centers 16 4.38 -1.02 -1.02 -3.84 -3.84 -3.84 3.53 13.17 5.18 3.84
Regional Malls 3 5.30 -0.72 -0.72 -0.41 -0.41 -0.41 20.66 19.08 0.86 2.71
Free Standing 9 5.50 -1.75 -1.75 -4.42 -4.42 -4.42 -10.12 3.03 2.64 5.73
Residential 19 3.78 -1.72 -1.72 -3.88 -3.88 -3.88 -2.35 3.30 4.38 9.13
Apartments 14 4.19 -1.53 -1.53 -3.48 -3.48 -3.48 -3.21 3.37 2.70 7.79
Manufactured Homes 3 2.96 -2.66 -2.66 -6.66 -6.66 -6.66 -9.17 -0.27 6.61 15.00
Single Family Homes 2 3.06 -1.57 -1.57 -2.78 -2.78 -2.78 8.23 6.14 11.95 -
Diversified 12 6.82 -1.67 -1.67 -3.20 -3.20 -3.20 -17.01 -0.25 -2.56 1.13
Lodging/Resorts 12 3.88 -1.02 -1.02 -1.08 -1.08 -1.08 10.25 6.48 0.34 2.47
Health Care 15 4.89 -1.28 -1.28 -5.02 -5.02 -5.02 -3.08 -0.69 -0.13 3.74
Self Storage 4 4.35 -0.73 -0.73 -6.28 -6.28 -6.28 5.75 13.92 13.22 12.88
Timberland 3 2.67 -0.58 -0.58 -5.16 -5.16 -5.16 5.54 4.15 9.47 5.46
Telecommunications 4 3.92 -2.55 -2.55 -8.95 -8.95 -8.95 -13.38 -4.70 4.52 10.06
Data Centers 2 2.64 -0.59 -0.59 0.05 0.05 0.05 19.57 5.29 15.05 -
Gaming 2 5.71 -1.56 -1.56 -5.43 -5.43 -5.43 - - - -
Specialty 7 4.67 -1.24 -1.24 -4.05 -4.05 -4.05 11.94 17.54 11.80 -

FTSE Nareit Mortgage REITs 33 11.86 -0.43 -0.43 -1.71 -1.71 -1.71 1.68 -1.95 -2.40 3.33
Home Financing 16 12.41 -0.11 -0.11 0.16 0.16 0.16 1.44 -2.74 -4.62 2.46
Commercial Financing 17 11.09 -0.86 -0.86 -4.19 -4.19 -4.19 1.95 -0.75 2.17 4.70

Source: FTSE™, Factset, Nareit®.

Disclaimer: The FTSE Nareit US Real Estate Index Series (Indexes) is calculated by FTSE International Limited (FTSE®), which is part of the London Stock Exchange Group plc (LSE Group). FTSE Russell® is
a trading name of FTSE®, FTSE® and related trademarks and service marks owned or licensed to the LSE Group. Nareit® is the exclusive registered trademark of the National Association of Real Estate
Investment Trusts®. All rights in the Indexes vest in FTSE® and Nareit®. All information is provided for information purposes only. Every effort is made to ensure that all information given in this publication is
accurate, but no responsibility or liability can be accepted by any member of the LSE Group nor by Nareit® nor by their respective directors, officers, employees, partners or licensors for any errors or for any loss
(including in negligence) from use of this publication or any of the information or data contained herein. Past performance is no guarantee of future results. Charts and graphs are provided for illustrative purposes
only. Index returns shown may not represent the results of the actual trading of investable assets.