Dzmitry Dzemidovich REIT Performance The REIT sector was in the black for the 5th month in a row in September with a +3.09% average total return. REITs outpaced the NASDAQ (+2.8%), S&P 500 (+2.1%) and Dow Jones Industrial Average (+2.0%) in September. The market cap weighted Vanguard Real Estate ETF (VNQ) slightly outperformed the average REIT in September (+3.27% vs. +3.09%) and has significantly outperformed year-to-date (+13.53% vs. +9.61%). The spread between the 2024 FFO multiples of large cap REITs (2 ...