NAREIT data show REITs falling 30.2% in October

11/18/2008 | American City Business Journals

REITs dropped 30.2% last month, according to NAREIT. The sharp decline followed a period when real estate had generally been outperforming other stock indexes and measures. "Corporate America has put a lot of major planning on hold until they get clarity on financial conditions," said Jerry Sweeney, president and CEO of Brandywine, a REIT that has retrenched as the downturn has worsened.

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