Shares of real estate investment trusts extended losses in afternoon trade, after the Federal Reserve raised interest rates as expected, but also increased expectations for hikes this year. REIT stocks, which have higher dividend yields than the typical stock, tend to get hurt in a rising rate environment as it gives investors less reason to take on equity risk. The SPDR Real Estate Select Sector ETF fell 2.2%, compared with a pre-Fed decline of 1.5%. Among the shares of the ETF’s most heavily weighted components, American Tower REIT went to a loss of 2.4% from a pre-Fed loss of 3.4%; Simon Property Group Inc. was down 2.2%, compared with a pre-Fed loss of 1.0%; Crown Castle International Corp. went to a decline of 3.3% from a decline of 2.7%; and Prologis Inc. was down 1.3%, extending pre-Fed losses of 0.9%. After the rate hike, the yield on the 10-year Treasury note rose to 2.990% from 2.954%. The dividend yield for the REIT ETF is 3.35%, while the implied yield for the S&P 500 is 1.90%, according to FactSet.