The SNL US REIT Multifamily index delivered a year-to-date return of 4.61%, compared to the 12.9% of the SNL US REIT equity index. However, SNL notes that the multifamily index findings may be skewed as Equity Residential and AvalonBay Communities make up close to 50% of the index. SNL observes that the markets have not rewarded the two companies for their Archstone Enterprise LP portfolio acquisition with stock-price appreciation.

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