The Morgan Stanley REIT Preferred Index (MSRP) is a preferred stock market capitalization-weighted total return index of all exchange-traded perpetual preferred securities of equity REITs. The index is composed of publicly traded preferred REIT stocks, including equity and hybrid REITs, as well as preferred REIT stocks with indexed yields.

In August alone, the total return for the MSRP was 2.36 percent, outperforming peers like the Wilshire 5000 (up 0.16 percent), Russell 2000 (down 0.61 percent) and the S&P 500 (up 0.23 percent). The performance of the MSRP in August was driven by the index’s price increase of 2.01 percent, together with its dividend component of 0.35 percent. The yield on the MSRP as of Aug. 31, 2004 was 7.74 percent and currently has a market cap of $14.5 billion.

Total Returns for MSRP, RMS, S&P 500 and SBCRP

Source: Morgan Stanley Research