iShares Global REIT ETF (NYSEARCA:REET) Sets New 1-Year High – Should You Buy?

iShares Global REIT ETF (NYSEARCA:REET)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $28.15 and last traded at $28.14, with a volume of 67352 shares traded. The stock had previously closed at $27.85.

iShares Global REIT ETF Stock Up 1.3%

The company’s fifty day moving average price is $27.37 and its 200 day moving average price is $26.44. The company has a market capitalization of $4.99 billion, a P/E ratio of 29.27 and a beta of 0.92.

Hedge Funds Weigh In On iShares Global REIT ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC grew its holdings in shares of iShares Global REIT ETF by 23.4% during the 1st quarter. NewEdge Advisors LLC now owns 47,066 shares of the company’s stock worth $1,142,000 after purchasing an additional 8,938 shares in the last quarter. Cresset Asset Management LLC raised its stake in iShares Global REIT ETF by 4.8% in the second quarter. Cresset Asset Management LLC now owns 29,310 shares of the company’s stock valued at $724,000 after purchasing an additional 1,337 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in iShares Global REIT ETF by 41.1% in the second quarter. Qube Research & Technologies Ltd now owns 46,006 shares of the company’s stock valued at $1,136,000 after purchasing an additional 13,410 shares in the last quarter. Peapack Gladstone Financial Corp lifted its position in iShares Global REIT ETF by 10.8% during the second quarter. Peapack Gladstone Financial Corp now owns 15,092 shares of the company’s stock worth $373,000 after purchasing an additional 1,466 shares during the period. Finally, Betterment LLC lifted its position in iShares Global REIT ETF by 44.1% during the second quarter. Betterment LLC now owns 15,906 shares of the company’s stock worth $393,000 after purchasing an additional 4,871 shares during the period.

About iShares Global REIT ETF

The iShares Global REIT ETF (REET) is an exchange-traded fund that is based on the FTSE EPRA Nareit Global REITs index, a global, market-cap-weighted index of firms involved in the ownership and operation of real estate. REET was launched on Jul 8, 2014 and is managed by BlackRock.