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REIT stocks rocked by store closure fears

Shares of real-estate investment trusts were broadly lower Thursday, as investors viewed Macy’s Inc.’s plan to close about 15% of its full-line stores as a threat to mall operators.

The iShares U.S. Real Estate exchange-traded fund IYR, -0.94% slumped 1.2% in afternoon trade, with 100 of its 117 equity components losing ground. That contrasts with the 0.6% surge into record territory by the S&P 500 index SPX, +0.55% which had about three-quarters of its components trading higher.

Among some of the biggest losers, General Growth Properties Inc.’s stock GGP, -3.53% slumped 3.8%, to pace the S&P 500 decliners.

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