The SNL Japan REIT Equity index posted a total return of 70.1% for the one-year period ended May 8, beating the SNL US REIT Equity index by 46.8 percentage points.
The SNL Japan REIT Equity index was composed of 33 SNL-covered J-REITs as of 8 May, topped by Nippon Building Fund Inc, an office REIT with a market capitalisation of nearly $10bn, which posted a one-year total return of 93.5%.
SNL-covered retail J-REITs, which include two companies, led the SNL-covered J-REIT sector in terms of one-year total returns, at 84.3%. This was followed by the office J-REIT sector, which makes up a large portion of the sector’s market capitalisation, with a total return of 83.2%, and the industrial J-REIT sector at 82.4%.
On the other hand, the SNL US REIT Equity index, which was composed of 155 companies, is led by regional mall giant Simon Property Group Inc, with a market capitalisation of more than $55bn.
Across US REIT property sectors, health care provided the highest one-year total return performance, at 42.4%. This was followed by the shopping and industrial sectors, with total returns of 30.9% and 30.7%, respectively.
