Real estate stocks bounce back to gains in April

[single word reit (real estate investment trust) on yellow color background]
May Lim/iStock via Getty Images

Real estate stocks bounced back to gains in April after recording a loss for the month of March [https://seekingalpha.com/news/4572518-real-estate-stocks-snap-monthly-winning-streak-in-march].

So far in 2026, the sector is strongly in the positive territory.

April saw the broader markets deliver positive returns on the back of a stronger-than-expected March jobs report, a rise in nonfarm payrolls, some ceasefire hopes in the Iran war during the second and third weeks, a strong earnings season, and positive economic news.

The Federal Open Market Committee kept its policy rate unchanged [https://seekingalpha.com/news/4584039-fomcs-hammack-logan-think-forward-guidance-should-not-have-implied-easing-bias-at-this-time] at 3.50%-3.75% for a third straight meeting, but forward guidance implied an easing bias.

The benchmark U.S. 10-year Treasury yield (US10Y [https://seekingalpha.com/symbol/US10Y]) closed the month largely flat.

Mortgage rates fell [https://seekingalpha.com/news/4578809-mortgage-rates-fall-for-third-straight-week] for three straight weeks in April, while mortgage demand was stable.

The S&P 500 Real Estate Index Sector (SP500-60 [https://seekingalpha.com/symbol/SP500-60]) increased 8.61% month-over-month in April to 282.37 points, while the accompanying State Street Real Estate Select Sector SPDR ETF (XLRE [https://seekingalpha.com/symbol/XLRE]) was up 8.55% to $44.32.

In April, the Dow Jones REIT Indx Equity REIT Total Return Index (REIT:IND [https://seekingalpha.com/symbol/REIT:IND]) added 9.04%, while the FTSE Nareit All Equity REITs index advanced 8.86%.

WEEKLY WINNERS & LOSERS

Among largecap gainers, Iron Mountain (IRM [https://seekingalpha.com/symbol/IRM]) topped the list, advancing 9.62% W/W to close at $127.19.

The document storage and data center REIT's Q1 results [https://seekingalpha.com/news/4582611-iron-mountain-raises-guidance-after-q1-earnings-beat-fueled-by-growth-in-digital-data-centers] exceeded its expectations, fueled by growth across its businesses, and the company boosted 2026 guidance.

AvalonBay Communities (AVB [https://seekingalpha.com/symbol/AVB]) followed with a 6.42% addition to $183.45. The apartment REIT benefited after its Q1 earnings [https://seekingalpha.com/news/4580263-avalonbay-communities-ffo-of-2_83-beats-by-0_03] beat analyst estimates, and a media report said the company held exploratory talks [https://seekingalpha.com/news/4582590-avalonbay-equity-residential-weigh-megamerger---report] about merging with Equity Residential (EQR [https://seekingalpha.com/symbol/EQR]).

Jones Lang LaSalle (JLL [https://seekingalpha.com/symbol/JLL]) (-6.89% W/W to $315.24) led the losers in the category even as the real estate services provider posted a Q1 [https://seekingalpha.com/news/4582702-jones-lang-lasalle-non-gaap-eps-of-3_43-beats-by-0_42-revenue-of-6_4b-beats-by-400m] top- and bottom-line beat.

CoStar Group (CSGP [https://seekingalpha.com/symbol/CSGP]) (-4.72% W/W to $34.72) and CBRE Group (CBRE [https://seekingalpha.com/symbol/CBRE]) (-4.37% W/W to $141.81) followed. The week saw CBRE price [https://seekingalpha.com/news/4580362-cbre-group-prices-750m-senior-notes] a $750M offering of 5.250% senior notes due 2036 and CoStar post [https://seekingalpha.com/news/4581021-costar-group-non-gaap-eps-of-0_23-beats-by-0_05-revenue-of-897m-in-line] mixed quarterly earnings.

For the midcap gainers, OUTFRONT Media (OUT [https://seekingalpha.com/symbol/OUT]) (+5.63% W/W to $31.71) and Kilroy Realty (KRC [https://seekingalpha.com/symbol/KRC]) (+5.52% W/W to $33.64) topped the list. Kilroy Realty was gaining on the back of a quarterly earnings beat [https://seekingalpha.com/news/4580251-kilroy-realty-ffo-of-0_91-beats-by-0_03-revenue-of-270_1m-beats-by-4_45m].

The St. Joe Company (JOE [https://seekingalpha.com/symbol/JOE]) (-13.05% W/W to $61.74) topped the losers. The company posted Q1 earnings [https://seekingalpha.com/news/4582099-st-joe-gaap-eps-of-0_24-revenue-of-99_1m] this week.

Alexandria Real Estate Equities (ARE [https://seekingalpha.com/symbol/ARE]) followed with a 12.68% retreat to $41.39 amid lower first-quarter earnings [https://seekingalpha.com/news/4580290-alexandria-real-estate-equities-trades-lower-as-potential-tenant-wind-downs-hit-q1-earnings] on the back of potential tenant wind-downs.

For smallcap stocks, RE/MAX Holdings (RMAX [https://seekingalpha.com/symbol/RMAX]) (+34.92% W/W to $10.78) led the gainers. The stock gained as Real Brokerage (REAX [https://seekingalpha.com/symbol/REAX]) confirmed [https://seekingalpha.com/news/4579870-real-brokerage-confirms-remax-acquisition-for-enterprise-value-of-880m] the acquisition of RE/MAX for an enterprise value of ~$880M.

Two Harbors Investment (TWO [https://seekingalpha.com/symbol/TWO]) followed with a 14.00% gain to $12.54. The week saw the company post its Q1 earnings [https://seekingalpha.com/news/4581088-two-harbors-investment-ead-of-034] and announce [https://seekingalpha.com/news/4581159-two-harbors-agrees-to-crosscountrys-increased-offer-of-11_30-share] an amended merger agreement with CrossCountry Mortgage.

Adamas Trust (ADAM [https://seekingalpha.com/symbol/ADAM]) (+11.82% W/W to $8.89) was a notable gainer on the back of its Q1 earnings [https://seekingalpha.com/news/4582980-adamas-trust-stock-surges-after-q1-earnings-beat-and-book-value-rises] that beat the consensus by a wide margin, helped by gains from derivatives.

Ironically, REAX topped the losers, retreating 20.52% to $2.13.

Hotel101 Global Holdings (HBNB [https://seekingalpha.com/symbol/HBNB]) was also a significant decliner, shedding 10.83% to close at $6.01.
[S&P, Nareit]
Percentage-wise price change across real estate indices

MORE ON REAL ESTATE

* Office CRE: A Fragile Equilibrium In A Weakening Market [https://seekingalpha.com/article/4896091-office-cre-a-fragile-equilibrium-in-a-weakening-market]
* Manufactured Housing: The Wide Moat Hidden In Plain Sight [https://seekingalpha.com/article/4895941-manufactured-housing-the-wide-moat-hidden-in-plain-sight]
* The State Of REITs: April 2026 Edition [https://seekingalpha.com/article/4892545-the-state-of-reits-april-2026-edition]
* Mid-to-mega-cap REIT shorts hit extremes in April: 5 most & least shorted stocks [https://seekingalpha.com/news/4584214-mid-to-mega-cap-reit-shorts-hit-extremes-in-april-xlre-tops-sp-500-ytd]
* LRHC tops REIT bear's list under $2B market cap; SACH least shorted in April [https://seekingalpha.com/news/4584112-lrhc-tops-reit-bears-list-under-2b-market-cap-sach-least-shorted-in-april]