REITs in the United States saw a total return of over 43 percent in 2021, according to the FTSE Nareit All Equity REITs index. Nevertheless, as of December 2022, the index had a negative total return of 24 percent. Though also at a loss, specialty, free standing retail, and lodging or resort REITs performed relatively better. FTSE Nareit All Equity REITs index is a free-float adjusted, market capitalization-weighted index of equity REITs in the U.S. In 2022, the index included were 148 constituents, with more than 50 percent of total assets in qualifying real estate assets other than mortgages secured by real property. The number of REITs has remained fairly constant in recent years, but the market cap has increased notably.
