By Dan Weil Roaring interest rates have decimated real estate investment trusts in 2022, with the FTSE Nareit REIT index losing 28% so far this year. Real estate investments trusts this year have been hammered by soaring interest rates, with the FTSE Nareit REIT index dropping 28% year to date. That’s worse than the S&P 500’s 25% slide. Rising rates hurt REITs because higher yields on bonds make them more attractive compared with REITs. In addition, REITs borrow heavily to finance their real estate purchases, and higher rates increase their borrowing costs. With the Federal Reserve determined …