Multifamily Stock Index Slows, Still Outpaces S&P 500
During May, the MFSI went up by almost 40 points, or 2.6%. With this increase, the MFSI is about 4.5% off its all-time high, and is just 3% lower than a year ago. Since the end of April 2003, the S&P 500 with dividends rose a whopping 5.3%, yet it is still more than 8% lower than it was 12 months ago —- a performance that's 5% percentage points worse than the MFSI.

Because the MFSI increased by 2.6% while the S&P 500 with dividends went up by exactly twice as much, the percentage difference between the two indexes narrowed from 89% to 84%, a level surpassed for the first time exactly one year ago.  Despite an exceptionally strong showing by the S&P 500 over the past three months, the MFSI continues to outperform the S&P 500 over the past one, two, three, and four year time time periods.

Since December 1998, the MFSI has risen by almost 55% while the S&P 500 with dividends has fallen by 17%.  During April, the price-to-earnings ratio (P/E) of the MFSI edged up from 17.24 to 17.59, while the dividend yield, defined as the total cash dividend payments divided by the current stock price, fell from 7.45% to 7.25% 

The MFSI is an index of  29 publicly traded US headquartered firms principally involved in multifamily ownership and management. [ return to top ]