U.S. REITs Crowded Stocks: What the Quant Data Says About REITs, July 2026

Research evidence excerpt

U.S. REITs Crowded Stocks: What the Quant Data Says About REITs, July 2026

Global Research

6 July 2026ab

U.S. REITs Equities

AmericasCrowded Stocks: What the Quant Data Says

About REITs, July 2026 Real Estate

Michael Goldsmith

Analyst

michael.goldsmith@ubs.com

UBS REIT Crowding Data - most/least crowded REIT subsectors & companies +1-212-713 2951

To better understand REIT positioning and crowding, we partnered with the UBS John C. Hodulik, CFA

Quantitative Research Team. Based on a blend of prime brokerage data, stock loan data, Analyst

13F regulatory findings, and UBS proprietary data, a crowding score is calculated for john.hodulik@ubs.com

each REIT on a daily basis. A "crowded long" is defined as a REIT with eligible funds +1-212-713 4226

holding a net long position, while a "crowded short" is defined as a REIT with eligible Batya Levi

funds holding a net short position. Analyst

batya.levi@ubs.com

As of June 2026, the REIT industry market cap weighted average crowding score was +1-212-713 8824

3.9, below May of 4.9. This suggests that, on the whole, the group remained solidly Robin M. Farley

positioned on the long side. Analyst

robin.farley@ubs.com

+1-212-713 2060

Dissecting long and short crowding and recent moves by REIT subsector:

Kevin McVeigh

Most net long crowded REIT subsectors: Data Centers, Infrastructure, Analyst

Industrial kevin.mcveigh@ubs.com

+1-212-882 0081

Most net short crowded REIT subsectors: Free Standing, Timber, Self Storage

Nicolo Menez

Subsectors with the largest increase in crowding in the last 30 days: Single Family Analyst

Homes, Diversified, Self Storage nicolo.menez@ubs.com

+1-212-713 3183

Subsectors with the largest decrease in crowding in the last 30 days: Free

Ami Probandt

Standing, Shopping Centers, Data Centers Analyst