Keepin' It Real 

Economics, Housing, & Commercial Real Estate Analysis

Apartment REITs
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Data Center REITs
Mall REITs
Net Lease REITs
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  • Alex Pettee, CFA

Daily Recap

  • U.S. equity markets finished mostly lower Thursday after better-than-expected Initial Jobless Claims data has also thrown a political curveball into the now-stalled negotiations for the next round of fiscal stimulus.

  • Still higher by 0.7% for the week, the S&P 500 finished lower by 0.2% today while the Dow Jones Industrial Average dipped 80 points following yesterday's 290 point-rally.

  • Pushing their declines to roughly 2% on the week, the Equity REIT ETF (VNQ) finished lower by 1.2% today with all 18 property sectors finishing in negative territory.

  • Initial Jobless Claims declined to 0.96 million last week, which was the lowest level since the onset of economic lockdowns in March. Continuing Jobless Claims, meanwhile, declined to 15.48 and have retreated by 9.4 million since their peak in May.

  • The Citi Economic Surprise Index has remained near record-highs while FactSet's Earnings Insight shows that 83% of S&P 500 companies reported a positive EPS surprise, which is the highest "beat percentage" ever.

To read the full report, click here to visit Seeking Alpha!

Daily Recap

  • U.S. equity markets rebounded Wednesday - gaining for the seventh day in the past eight as encouraging data on the coronavirus pandemic has continued to counteract concerns from the stimulus-stalemate.

  • Finishing just shy of all-time record highs, the S&P 500 finished higher by 1.4% today while the Dow Jones Industrial Average jumped 290 points following yesterday's 104 point-decline.

  • After declining 1.4% yesterday, the Equity REIT ETF (VNQ) finished higher by 1.1% today with 15 of 18 property sectors finishing in positive territory while mortgage REITs declined 0.8%.

  • After flirting with deflationary territory amid the depths of the pandemic, inflation metrics sprung back to life in July. Core inflation recorded the largest month-over-month rise since 1991.

  • Housing Stays Hot: Mortgage applications to purchase a home rose again last week is now higher by 22% from the same time last year as the housing sector continues to lead the post-pandemic recovery.

To read the full report, click here to visit Seeking Alpha!

  • Alex Pettee, CFA

Daily Recap

  • U.S. equity markets snapped a seven-day winning streak amid a continued stimulus stalemate as the focus swings to Presidential politics after presumptive Democratic nominee Joe Biden selected his running mate.

  • Following gains of 0.3% yesterday, the S&P 500 finished lower by 0.8% while the Dow Jones Industrial Average dipped 104 points following yesterday's 360 point-rally.

  • After gaining 0.2% last week, the Equity REIT ETF (VNQ) finished lower by 1.4% today with 11 of 18 property sectors in negative territory as earnings season wrapped-up this morning.

  • Mall REITs were among the leaders today after a flurry of earnings over the last 24 hours. Mall REITs reported improving rent collection metrics in the back-half of Q2.

  • Hotel REITs were in focus following reports from the Wall Street Journal that the "home-sharing" firm is close to filing for an IPO in August.

To read the full report, click here to visit Seeking Alpha!

Hotel REITs
Single Family Rental REITs
Mobile Home REITs
Healthcare REITs
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