Last Week in REITs: Higher-for-Longer Back on the Table

Research evidence excerpt

Last Week in REITs: Higher-for-Longer Back on the Table

USA | REITs EquityMayResearch17, 2026

Last Week in REITs: Higher-for-Longer Back on Weekly REIT Roundup Webinar on

Mondays at 9am ET: Register here.the Table

The RMZ (-2.2%) underperformed the S&P 500 (+0.1%), as the 10-year tsy Exhibit 2 - Upcoming Jefferies/Industry Events

increased +23 bps to 4.60%. Healthcare led (-0.7%), while CRE Services (-11.4%) Jefferies Events Shaded

ICSC Mon-Wed

Las Vegas May 18-20sold off following coverage of a new AI-enabled product, Fore Real, which IRM NDR Wed

San Francisco May 27

Analyst Marketing Thurresurfaced AI disruption concerns. San Francisco May 28

Self Storage Property Tours w/ CUBE & EXR Mon

NYC Jun 1

Jun 1AI Data Center Initiation; New Data Center Developers Capitalizing on the AI DC Demand NYCDinnerNAREIT w/REITweekEXR CEO & CFO Tue-ThurMon

NYC Jun 2-4Acceleration: We initiate coverage on four AI data center developers with legacy BTC mining Analyst Marketing Thur

roots: Buy CIFR ($32 PT), HUT ($156 PT), WULF ($28 PT); Hold RIOT ($24 PT). These platforms ChicagoMARA NDR JunMon11

Analyst Marketing Mon-Thurare converting large, already-energized power footprints into AI data center capacity, effectively BostonUK June 15 June 15-18

Self-Storage Forum Wedbypassing the multi-year interconnection timelines constraining traditional developers. Demand Virtual June 17

continues to outpace supply, and these companies are increasingly signing IG hyperscaler or IG- . LasSelf-StorageVegas Association Fall Conference SepTue-Fri8-11

supported neocloud leases, improving visibility and helping compress financing costs. We see

material upside tied to leasing progress and development execution over the next 12–24 months,

with CIFR and WULF as our top picks.