REIT all about it: Issue 1237 - In this week‘s "REIT all about it..."

Research evidence excerpt

REIT all about it: Issue 1237 - In this week‘s "REIT all about it..."

Global Research

10 July 2026ab

REIT all about it Equities

GlobalIssue 1237 - In this week's "REIT all about it…"

Real Estate

Charles Boissier, CFA

Performance overview Analyst

Over the past week, Global Real Estate has returned -0.7% and Global Equities +0.2% charles.boissier@ubs.com

in USD. Regionally, Hong Kong (+1.8%) performed strongest, while Continental Europe +44-20-7568 4415

was the weakest (-1.6%), in local currency. John Lam, CFA

Analyst

Global Real Estate - US leads, value recedes john-za.lam@ubs.com

+852-2971 6358

By sector, Data centres (+31.6%) and Hotels (+28.9%) performed best, Diversified (-

1.4%) and Office (+0.8%) relatively worst. By region, the US (+17.6%) and Canada Michael Lim

(+13.3%) outperformed. Japan REITs (-8.2%) and Sweden (-8.1%) underperformed. Analyst

Beneath the surface, the story was one of widening dispersion. Much of the valuation michael-h.lim@ubs.com

+65-6495 5902

recovery that supported returns seems to have occurred, leaving re-rating increasingly

dependent on earnings delivery and cash-flow growth. Kazufumi Takeuchi

U.S. subsector 2Q'26 previews kazufumi.takeuchi@ubs.com

+81-3-5208 6269

We expect U.S. Healthcare REITs to have sustained strong momentum, with strong

operating fundamentals complemented by elevated transaction activity. Similarly, Michael Goldsmith

Shopping Center REITs should report another quarter of solid results. Industrial REITs

michael.goldsmith@ubs.com

should provide further evidence that fundamentals have stabilised, as improving +1-212-713 2951

absorption and moderating supply reinforce a gradual recovery narrative, although rent

growth remains subdued. Meanwhile, Self Storage REITs are likely to report continued John C. Hodulik, CFA