Real-estate and construction sector lead S&P 500 gainers
Analysts are urging a more selective approach to real estate, while execs say ‘death of the mall’ theme is not the full story Shares of construction , real-estate companies and real-estate investment trusts led S&P 500 gainers on Tuesday, after some positive comment on the sector from industry insiders and a growing view among analysts that the sector’s recent drubbing may be overdone. Mall REITs in particular have seen their shares pummeled in the last year as investors react to the weak traffic trends and store closures that are making headlines in the retail sector. Data released last week by real estate researcher Reis Inc . showed vacancy rates in shopping centers rose in 28 of 77 U.S. metro areas in the first quarter from the year-earlier period, a slight improvement from the fourth quarter, The Wall Street Journal reported. Retail REIT executives speaking at the NYU Schack Institute symposium last week argued that malls cannot be lumped toget...