These Were The Best Performing REITs in May 2023
Portfolio Pulse from Ethan Roberts
The best performing REITs in May 2023 were Modiv Inc. (MDV), Ashford Hospitality Trust Inc. (AHT), and Creative Media & Community Trust Corp. (CMCT). Modiv reported a 27.18% return, while Ashford Hospitality gained 19.71% and Creative Media & Community rose 13.64%.
June 01, 2023 | 3:37 pm
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Ashford Hospitality Trust Inc. gained 19.71% in May 2023, driven by better-than-expected first-quarter operating results and increasing occupancy and RevPAR rates.
Ashford Hospitality Trust Inc.'s gain in May 2023 can be attributed to its better-than-expected first-quarter operating results, with FFO of $0.19 and revenue of $328.89 million. The hotel REIT sector's overall performance, driven by increasing occupancy and RevPAR rates, also contributed to the stock's rise.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Creative Media & Community Trust Corp. rose 13.64% in May 2023, influenced by insider purchases, a takeover offer from Daniel Negari, and a Buy rating from EF Hutton analyst Gaurav Mehta.
Creative Media & Community Trust Corp.'s rise in May 2023 can be attributed to several factors, including insider purchases by its CIO and directors, a takeover offer from Daniel Negari at $8.88 per share, and a Buy rating from EF Hutton analyst Gaurav Mehta. These events likely attracted investor attention and drove the stock price up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Modiv Inc. reported a 27.18% return in May 2023, following a Buy rating from EF Hutton analyst Gaurav Mehta and a $17 price target.
Modiv Inc.'s strong performance in May 2023 can be attributed to its first-quarter operating results and the Buy rating from EF Hutton analyst Gaurav Mehta. The $17 price target represents a 21% potential price hike, which could have attracted investors and driven the stock price up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100