Real estate investment trust (REIT) shares have suffered as the stock market has anticipated higher interest rates. The fear of a gradual reduction in the Federal Reserve's quantitative easing program, or QE, has helped push the iShares US Real Estate ETF, a diversified holding of REITs, down nearly 9% since its summer high. But is the REIT decline a buying opportunity? It may be, especially in those companies like General Growth Properties (NYSE: GGP), Pennsylvania Real Estate Investment Trust (NYSE: PEI), and DDR Corp. (NYSE: DDR).
REIT shares have been under pressure ever since fears of a Federal Reserve taper have arisen. But retail property owners like General Growth, Pennsylvania Real Estate, and DDR may benefit whether the Fed begins withdrawing stimulus or not. Anxiety in the stock market usually offers buying opportunities. Overly cautious concerns about the effect of interest rates on retail REITs might be just such an event.
Source: Motley Fool
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