5 Worst Performing REITs in 2023

In this piece, we will take a look at the five worst performing REITs in 2023. If you want to take a look at the current trends in the REIT sector, then head on over to 15 Worst Performing REITs in 2023.

5. City Office REIT, Inc. (NYSE:CIO)

Year To Date Share Price Losses: 36.36%

As you’re likely to guess by its name, City Office REIT, Inc. (NYSE:CIO) is also an office REIT. It owns roughly six million square feet of properties in Southern U.S. states. The firm managed to beat Q2 2023 analyst EPS estimates, and it reduced its debt during the time period by relinquishing possession of an office space in Texas.

Insider Monkey’s Q1 2023 survey of 943 hedge funds revealed that 14 had invested in City Office REIT, Inc. (NYSE:CIO). The REIT’s largest shareholder in our database is Noah Levy and Eugene Dozortsev’s Newtyn Management with an investment of $10.6 million.

4. Office Properties Income Trust (NYSE:OPI)

Year To Date Share Price Losses: 43.44%

Office Properties Income Trust (NYSE:OPI) is the last office REIT on our list. It has operations all over America, in 30 states to be precise. Like several other office REITs it missed analyst estimates for EPS for its second quarter and the stock has consistently been rated Hold over the past few months.

By the end of March 2023, nine of the 943 hedge funds surveyed by Insider Monkey had held a stake in Office Properties Income Trust (NYSE:OPI).

3. CorEnergy Infrastructure Trust, Inc. (NYSE:CORR)

Year To Date Share Price Losses: 46.19%

CorEnergy Infrastructure Trust, Inc. (NYSE:CORR) is an energy real estate that manages midstream infrastructure. A slowdown in U.S. energy production naturally reduces the demand for its products.

Insider Monkey took a look at 943 hedge fund portfolios for this year’s first quarter and determined that three had bought the REIT’s shares. CorEnergy Infrastructure Trust, Inc. (NYSE:CORR)’s biggest investor among these is Israel Englander’s Millennium Management through a stake worth $40,000.

2. Power REIT (NYSE:PW)

Year To Date Share Price Losses: 52.82%

Power REIT (NYSE:PW) is an industrial REIT that manages agricultural and other properties. Its transportation segment is quite historic since it owns a historic railroad in Pennsylvania.

During Q1 2023, four of the 943 hedge funds part of Insider Monkey’s database had bought Power REIT (NYSE:PW)’s shares.

1. Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLR)

Year To Date Share Price Losses: 57.45%

Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLR) is a commercial real estate investment trust that primarily owns properties rented out to retailers and similar establishments. The firm announced a reverse stock split in August to likely keep up with the NASDAQ’s listing requirements.

During 2023’s first quarter, two of the 943 hedge funds part of Insider Monkey’s research had held a stake in Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLR). Out of these, the firm’s largest investor is Parsa Kiai’s Steamboat Capital Partners courtesy of a $4.9 million investment.

Disclosure: None. You can also take a look at 14 Best Dividend-Paying Stocks Under $50 and 10 Most Profitable Small Businesses in 2023.

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