Box Office Distress | REITs Rebound | Another Dividend Boost

December 3, 2020 | Hoya Capital

Box Office Distress | REITs Rebound | Another Dividend Boost Daily Recap Dec 3 Written By Summary U.S. equity markets were mixed Thursday as the vaccine-driven "sector rotation" resumed following encouraging employment data this morning and despite a potential setback in Pfizer's initial vaccine deployment. After setting fresh record-highs yesterday, the S&P 500 finished fractionally lower today while the Dow Jones Industrial Average advanced 86 points and the Nasdaq 100 gained 0.3%.

Powered by the COVID-sensitive property sectors, real estate equities were among the leaders today. The Equity REIT ETF gained by 0.8% today with 16 of 18 property sectors in positive-territory. Mortgage rates dipped to fresh record-lows last week, which is expected to provide further fuel for the U.S. housing industry. Jobless Claims data was also better-than-expected with continuing claims declining to post-pandemic lows. Another one. Universal Health REIT (UHT) boosted its dividend, becoming the 42nd equity REIT to raise its dividend this year compared to 66 equity REITs that have reduced or suspended their dividend.

Real Estate Daily Recap U.S. equity markets were mixed Thursday as the vaccine-driven "sector rotation" resumed following encouraging employment data this morning and despite a potential setback in Pfizer's ( PFE ) initial vaccine deployment. After setting fresh record-highs yesterday, the S&P 500 ETF ( SPY ) finished fractionally lower today while the Dow Jones Industrial Average ( DIA ) advanced 86 points and the Nasdaq 100 ( QQQ ) gained 0.3%.

Powered by the COVID-sensitive property sectors, real estate equities were among the leaders today as the broad-based Equity REIT ETF ( VNQ ) gained by 0.8% today with 16 of the 18 property sectors in positive territory. The Mortgage REIT ETF ( REM ), meanwhile, gained 0.4% on the day. The most economically-sensitive segments of the equity market led the way today as 6 of the 11 GICS equity sectors finished in positive territory led by the Energy ( XLE ), ...