Maxiphoto
S&P 500 real estate stocks increased their average short interest in May by 8 basis points from the prior month to 2.09% of the shares float.
The Real Estate Select Sector SPDR Fund ETF has declined by ~4.37% YTD, while the broader S&P 500 has gained ~13.65%.
Bets against the industrial REIT Prologis (PLD), holding an index weight of 11.69%, reduced by 2 basis points in May to 1.12% from 1.14% at the end of April. The second most significant stock in terms of index weight, telecom tower REIT American Tower (AMT), saw short interest inch up to 1.03% at May 31 from 1.01%.
Host Hotels & Resorts (HST) stood out in the list, with the most shares shorted as a percentage of shares float. Short interest on HST came in at 6.51% at the end of the previous month.
Office REIT Boston Properties (BXP) followed, with 5.14% of the outstanding float sold short.
Timber REIT Weyerhaeuser (WY) remained the least shorted S&P 500 real estate stock, closing May with a short position of 0.87%. Here is a look at the 5 most shorted and least shorted S&P 500 real estate stocks:
Short interest by subsector
Hotel & Resort REITs logged the largest increase in the number of shares sold short, with bets against the subsector rising by 87 basis points during the month of May.
Healthcare REITs were the next on the list. The subsector saw an increase of 15 basis points in its average short interest.
Office REITs were surprise winners, saw bets against the subsector decreasing by 9 basis points. Here is a look at the subsector-wise short positions: