Maria Vonotna
The first- and second-quarter results of REITs (VNQ) had been overwhelmingly positive in 2023.
Rents keep on growing at an even faster pace than we had anticipated. Here are a few examples across various property sectors:
Camden Property Trust's (CPT) same property NOI rose by 6.2% in the second quarter.
AvalonBay Communities' (AVB) same property NOI rose by 6.3% in the second quarter.
Alexandria Real Estate's (ARE) rent spreads were 14.5% in the second quarter.
Whitestone REIT's (WSR) rent spreads were 17% in the second quarter.
EastGroup Properties' (EGP) same property NOI rose by nearly 6% in the second quarter.
STAG Industrial's (STAG) same property NOI rose by about 5% in the second quarter.