REITs joined the rest of the stock market last week in the steady selling of shares as investors began to anticipate the effects of higher interest rates. These five sold off the most and are worth watching ahead of Wednesday’s Federal Open Market Committee meeting where rate hikes may be announced.
Power REIT (NYSEAMERICAN: PW) (-6.17%) is diversified among three industries: controlled environment agriculture (greenhouses), solar farm land and transportation. No dividend is being paid. With a price-earnings (P/E) ratio of 10 and trading at a 22% discount from book value, the REIT may fit the value stock profile.
