The Primary REIT Indexes, Along With the Broader Market, Continued to Struggle in November

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The FTSE NAREIT Equity REIT Index is down 46.50 percent for the year, through Nov. 30, following a 23.06 percent decline in November.

The FTSE NAREIT Equity REIT Index is down 46.50 percent for the year, through Nov. 30, following a 23.06 percent decline in November. The FTSE NAREIT All REIT Index is down 45.92 percent for the year after dropping 21.51 percent in November, according to the National Association of Real Estate Investment Trusts (NAREIT).

The broader market indexes also struggled through the first 11 months of 2008. For the period, the NASDAQ Composite is down 42.10 percent, the S&P 500 is down 37.66 percent, the Russell 2000 is down 37.42 percent, and the Dow Jones Industrials is down 33.44 percent.

The home financing REIT segment rebounded and moved into positive territory in November.

Investors, encouraged by the announcements of government initiatives to support the markets for residential mortgage-backed securities, moved back into residential mortgage REITs. Home financing REITs were up 5.12 percent in November and are up 2.12 percent in the fourth quarter, through Nov. 30.

Among equity REITs, self storage REITs have delivered the strongest performance, down only 9.19 percent for the year, through Nov. 30. Apartment REITs were next in line, down 26.84 percent for the year, through Nov. 30.

The National Association of Real Estate Investment Trusts (NAREIT) is the representative voice for U.S. REITs and publicly traded real estate companies worldwide. Members are real estate investment trusts (REITs) and other businesses that own, operate and finance income-producing real estate, as well as those firms and individuals who advise, study and service those businesses. Visit our Web site at REIT.com.

NAREIT does not intend this press release to be a solicitation related to any particular company, nor does it intend to provide investment, legal or tax advice. Investors should consult with their own investment, legal or tax advisers regarding the appropriateness of investing in any of the securities or investment strategies discussed in this publication. Nothing herein should be construed to be an endorsement by NAREIT of any specific company or products or as an offer to sell or a solicitation to buy any security or other financial instrument or to participate in any trading strategy. NAREIT expressly disclaims any liability for the accuracy, timeliness or completeness of data in this publication. Unless otherwise indicated, all data are derived from, and apply only to, publicly traded securities. Any investment returns or performance data (past, hypothetical, or otherwise) are not necessarily indicative of future returns or performance.

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