The REIT market underperformed the broader stock market in July for the third consecutive month, according to Brad Case, NAREIT's senior vice president of research and industry information. The U.S. Equity REIT market posted total returns of 0.83% for the month, compared to the S&P 500's 5.09% increase. "Over the last year, REITs have been up about 10 percent, but it’s been a spectacular run for the stock market," Case said. He adds that the reason the REIT industry has underperformed the stock market is that the stock market "has been roaring."

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