Builders Bounce • Luxury Strength • REIT Dividend Hike

May 25, 2022 | Hoya Capital

Builders Bounce • Luxury Strength • REIT Dividend Hike Real Estate Daily Recap May 25 Written By U.S. equity markets rebounded Wednesday in another choppy session after strong results from Toll Brothers and Nordstrom revealed surprising strength in the luxury segment of U.S. consumer spending. Back on pace to snap a seven-week streak of declines, the S&P 500 advanced 1.0% today - pushing its week-to-date gains to 2.0% - while the Mid-Cap 400 and Small-Cap 600 each rallied 2%.

Homebuilder Toll Brothers surged 8% after reporting better-than-expected results and maintaining its full-year outlook which calls for revenue growth of 20% this year, refuting dire housing market forecasts. Simon Property is reportedly not planning to a make bid for the department store chain Kohl's, contrary to reports last week that Simon may partner with Brookfield on a bid for Kohl's after the pair successfully purchased JC Penny out of bankruptcy in 2020.

Another day, another REIT dividend hike. Presidio Property (SQFT) - a microcap diversified REIT that owns office, industrial, retail, and single-family residential properties which went public in 2020 - rallied 5% after increasing its dividend - the 63rd equity REIT to hike its payout. Income Builder Daily Recap We recently launched Hoya Capital Income Builder - a premier income-focused investment research service through Seeking Alpha Marketplace - that will be the new exclusive home of all of Hoya Capital's investment research.

Income Builder focuses on real income-producing asset classes that offer the opportunity for diversification, monthly income, capital appreciation, and inflation hedging. If you're not already on board, give us a try with a completely risk-free two-week trial and take a look around. U.S. equity markets rebounded Wednesday in another choppy session after strong results from Toll Brothers and Nordstrom revealed surprising strength in the luxury segment of U.S. consumer spending.

Back on pace to snap a seven-week streak of declines, the S&P 500 advanced 1.0% today - pushing ...