Key Takeaways
- • Medical Properties Trust (MPT) records the highest short interest among REITs with a 24.33% short ratio, indicating significant bearish positioning in the healthcare REIT sector as of end-September 2026.
- • Park Hotels & Resorts (PK) follows as the second most-shorted REIT at 17.02% short interest, reflecting broader skepticism toward the hotel REIT subsector.
- • American Tower Corporation (AMT) records among the lowest short interest ratios in the REIT universe at 1.31% of the public float, signaling investor confidence in the tower REIT operator.
- • Healthcare, hotel, and office REITs emerged as the most heavily shorted property sectors within the real estate market at the end of September 2026, with market capitalizations exceeding $2 billion.
Summary
Medical Properties Trust has become the most-shorted REIT in the market, with short interest reaching 24.33% as of the end of September 2026. The healthcare-focused REIT is drawing substantial bearish bets from market participants, significantly outpacing other major REITs in terms of short positioning. This elevated short interest suggests considerable investor skepticism regarding MPT's near-term prospects or valuation.
The hotel REIT sector has also attracted notable short interest, with Park Hotels & Resorts recording 17.02% short interest—placing it second among the most-shorted REITs tracked. Beyond these two names, Pebblebrook Hotel Trust rounds out the most-shorted list, reflecting broader market concern about hotel REITs' recovery trajectory and occupancy dynamics.
In contrast, American Tower Corporation demonstrates markedly lower short interest, with only 1.31% of its public float sold short as of mid-September 2026. This positioning reflects investor confidence in the tower REIT, which operates wireless and broadcast infrastructure assets less vulnerable to the cyclical pressures affecting hotel and healthcare properties. The divergence in short interest across REIT subsectors underscores market differentiation between infrastructure-backed REITs and property-dependent operators. Healthcare, hotel, and office REITs have emerged as the most shorted segments within the Real Estate Select Sector SPDR ETF (XLRE), indicating that bearish sentiment is concentrated in property types facing structural headwinds or cyclical uncertainty.
The hotel REIT sector has also attracted notable short interest, with Park Hotels & Resorts recording 17.02% short interest—placing it second among the most-shorted REITs tracked. Beyond these two names, Pebblebrook Hotel Trust rounds out the most-shorted list, reflecting broader market concern about hotel REITs' recovery trajectory and occupancy dynamics.
In contrast, American Tower Corporation demonstrates markedly lower short interest, with only 1.31% of its public float sold short as of mid-September 2026. This positioning reflects investor confidence in the tower REIT, which operates wireless and broadcast infrastructure assets less vulnerable to the cyclical pressures affecting hotel and healthcare properties. The divergence in short interest across REIT subsectors underscores market differentiation between infrastructure-backed REITs and property-dependent operators. Healthcare, hotel, and office REITs have emerged as the most shorted segments within the Real Estate Select Sector SPDR ETF (XLRE), indicating that bearish sentiment is concentrated in property types facing structural headwinds or cyclical uncertainty.
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