Real estate stocks push up as feds work to pass stimulus deal

As the federal government races to lock down a trillion-dollar stimulus package, public real estate firms — from real estate investment trusts to major brokerages — edged higher Thursday, along with the broader stock market.

The FTSE Nareit All REITs index, a composite of all real estate investment trusts listed on the New York Stock Exchange, the American Stock Exchange and the NASDAQ National Market List, closed 0.42 percent higher from the market open. Even Nareit’s index for hotel REITs, which have been struggling as the virus has led to global travel restrictions and bookings cancellations, were recording gains midday Thursday.