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MARKETS LIVE BLOG:

STOCKS CLIMB AS DOW POSTS 8TH STRAIGHT WIN

Fed's Michelle Bowman echoes higher-for-longer mantra for interest rates

Real Estate ETF (REZ) Hits New 52-Week High

Sanghamitra Saha

For investors seeking momentum, iShares Residential Real Estate ETF REZ is probably on radar now. The fund just hit a 52-week high, which is up roughly 25.3% from its 52-week low price of $57.33/share.

But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:

REZ in Focus

The underlying FTSE NAREIT All Residential Capped Index measures the performance of the residential, healthcare and self-storage real estate sectors of the U.S. equity market. The fund holds about 44 securities.

Public Storage REIT (9.5%), Welltower (8.1%) and Avalonbay Communities (7.8%) are the top three holdings of the fund. It charges 48 bps in fees (see all Real Estate ETFs here).

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Why the Move?

Dovish Fed comments have kept long-term U.S. Treasury bond yields at subdued level this year. Also, renewed trade tensions brightened the appeal for relatively safer sectors of real estate.

More Gains Ahead?

Though the fund has a Zacks Rank #3 (Hold), the fund has a positive weighted alpha of 22.60 which hints at more gains. So, there is definitely still some promise for those who want to ride on this surging ETF a little longer.

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iShares Residential Real Estate ETF (REZ): ETF Research Reports
 
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Zacks Investment Research
 
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