REITs underperformed the S&P 500 in 2013, but they did have a banner year in capital raising, according to NAREIT. Listed REITs raised a total of $76.96 billion for the year, surpassing 2012's prior record of $73.33 billion. Investors that are eyeing rising rates with concern should consider that "real estate is a strategic more than a tactical investment, and real estate investors have historically been rewarded for a long-term orientation," according to NAREIT President and CEO Steven A. Wechsler.

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