David Fick, a REIT analyst with Legg Mason, estimates that this has meant a significant shrinking. It's clearly a result of the performance of the sector. The continued leak of shares from the UITs has put pressure on companies participating in the trusts. The more immediate concern is the looming liquidation of the five UITs over the next five months and the shares of the companies likely to be most affected. If you have a week and a half of supply hitting the market, obviously that will account for some selling pressure.
Nobody wants that stock.
The longer it will take the market to absorb the new supply, the bigger the threat to existing investors. If you have a week and a half of supply hitting the market, obviously that will account for some selling pressure. The number of shares to be liquidated, divided by the average daily trading volume. Not everyone agrees that the terminations will be the end of the world. This is just one more reason REITs are likely to continue to languish.