The average real estate investment trust (REIT) is roughly 5% below its 52-week high, using Vanguard Real Estate ETF (NYSEMKT: VNQ) as a proxy. That's a vast improvement from where it was not too long ago, down over 20%, but investors shouldn't think the investment opportunity in REITs has passed. If you go back more than a year, you start to see that net lease REITs like NNN (NYSE: NNN) and tiny peer Alpine Income Property Trust (NYSE: PINE) still have more ground to make up.

The past year was filled with interest rate increases. But the trend didn't start over the past 12 months -- it goes back a little further than that. For example, if you look at the past three years, you'll see that the average REIT is still down a bit more than 20% from its highs over the span. In other words, there's more opportunity here than may at first meet the eye if you step back and consider the broader picture.

Continue reading

Source Fool.com