Business

mass. movers

REIT declines on interest-rate worries

Senior Housing owns assisted- and independent-living complexes, office buildings, nursing homes, and rehab hospitals.

The Times via AP/File 2013

Senior Housing owns assisted- and independent-living complexes, office buildings, nursing homes, and rehab hospitals.

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Stocks of real estate investment trusts fell amid worry about the possibility of higher interest rates. “Guess what? REITs don’t like the higher cost of debt,” said David Toti at Cantor Fitzgerald, Dow Jones reported. REITs, favored by investors seeking income, have been hit as Treasury yields climb. Vanguard’s exchange-traded REIT fund has fallen five straight days, cutting its 2013 gains to 10.9 percent from 19.7 percent. Yesterday’s decliners included Newton-based Senior Housing Properties Trust.

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