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Best performing REIT stocks last month

There were zero real estate investment trust, or REIT, IPOs in the first quarter of 2022. As of March 31, there have been 210 days since the last IPO, when Generation Income Properties raised $17 million on Sept. 2, 2021, which is the longest streak without a REIT IPO since 2014. In 2021, four IPOs raised a total of $857 million, with Phillips Edison & Company having the largest offering, worth $547 million.

Four Springs Capital Trust had planned to go public on the New York Stock Exchange in January 2022 but postponed its IPO “due to market conditions.” Strawberry Fields, a healthcare REIT, may be the first REIT IPO of the year after they publicly filed a registration statement on March 30, with an initial price of $9.23 per share, which would raise about $14 million, giving the company a market value of more than $490 million.

While REITs are still down -4.2% year to date, they bounced back in March with a positive return of 5.9%, slightly beating the S&P 500’s 5.2% gain.

Real estate platform ZeroDown compiled a list of the best-performing REITs in March, using data from IEX Cloud. Stocks are ranked based on total returns, including dividends. All REITs based in the U.S. listed on Nareit were considered. REITs, short for real estate investment trusts, are companies that own and operate income-producing properties such as residential, office buildings, retail, or timberland. To qualify as a REIT, the company must distribute 90% of taxable income to shareholders.

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#20. Crown Castle International Corp. (CCI)

– March total return: +11.7%
— Price change: +10.8%
— Dividends: $1.47
– REIT type: Infrastructure REITs

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#19. CareTrust REIT (CTRE)

– March total return: +11.9%
— Price change: +10.3%
— Dividends: $0.28
– REIT type: Health Care REITs

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#18. The Necessity Retail REIT (RTL)

– March total return: +12.4%
— Price change: +12.4%
— Dividends: $0.00
– REIT type: Retail REITs

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#17. National Health Investors (NHI)

– March total return: +12.4%
— Price change: +10.7%
— Dividends: $0.90
– REIT type: Health Care REITs

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#16. Whitestone REIT (WSR)

– March total return: +13.1%
— Price change: +12.5%
— Dividends: $0.08
– REIT type: Retail REITs

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#15. SBA Communications Corporation (SBAC)

– March total return: +13.7%
— Price change: +13.4%
— Dividends: $0.71
– REIT type: Infrastructure REITs

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#14. New York City REIT (NYC)

– March total return: +13.7%
— Price change: +13.7%
— Dividends: $0.00
– REIT type: Office REITs

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#13. Iron Mountain (IRM)

– March total return: +13.9%
— Price change: +12.7%
— Dividends: $0.62
– REIT type: Specialty REITs

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#12. LTC Properties (LTC)

– March total return: +14.3%
— Price change: +13.7%
— Dividends: $0.19
– REIT type: Health Care REITs

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#11. Saul Centers (BFS)

– March total return: +14.5%
— Price change: +14.5%
— Dividends: $0.00
– REIT type: Retail REITs

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#10. Ventas (VTR)

– March total return: +15.2%
— Price change: +14.4%
— Dividends: $0.45
– REIT type: Health Care REITs

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#9. CBL Properties (CBL)

– March total return: +15.4%
— Price change: +15.4%
— Dividends: $0.00
– REIT type: Retail REITs

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#8. Welltower (WELL)

– March total return: +15.4%
— Price change: +15.4%
— Dividends: $0.00
– REIT type: Health Care REITs

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#7. Farmland Partners (FPI)

– March total return: +18.3%
— Price change: +17.8%
— Dividends: $0.05
– REIT type: Specialty REITs

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#6. Ashford Hospitality Trust (AHT)

– March total return: +18.5%
— Price change: +18.5%
— Dividends: $0.00
– REIT type: Lodging/Resorts REITs

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#5. ACRES Commercial Realty Corp. (ACR)

– March total return: +19.1%
— Price change: +19.1%
— Dividends: $0.00
– REIT type: Mortgage REITs

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#4. InvenTrust Properties Corp. (IVT)

– March total return: +19.4%
— Price change: +18.6%
— Dividends: $0.21
– REIT type: Retail REITs

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#3. Gladstone Land Corporation (LAND)

– March total return: +22.0%
— Price change: +21.8%
— Dividends: $0.05
– REIT type: Specialty REITs

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#2. CoreCivic (CXW)

– March total return: +22.6%
— Price change: +22.6%
— Dividends: $0.00
– REIT type: Specialty REITs

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#1. Seritage Growth Properties (SRG)

– March total return: +24.2%
— Price change: +24.2%
— Dividends: $0.00
– REIT type: Retail REITs

This story originally appeared on ZeroDown
and was produced and distributed in partnership with Stacker Studio.