Casino M&A • Inflation Cools • REIT Dividend Hikes

December 1, 2022 | Hoya Capital

Casino M&A • Inflation Cools • REIT Dividend Hikes Real Estate Daily Recap Dec 1 Written By U.S. equity markets were little-changed Thursday but bonds posted a broad-based rally as interest rates dipped on cooler-than-expected PCE inflation data alongside disappointing jobless claims and manufacturing data. Holding onto most of yesterday's rally and closing just below two-month highs, the S&P 500 slipped 0.1% today while the tech-heavy Nasdaq 100 finished higher by 0.1%.

Real estate equities were mixed today. Equity REITs slipped 0.3% while Mortgage REITs finished flat. Homebuilders continued their recent rebound as mortgage rates fell for a third-straight week. Another cooler-than-expected inflation report sparked a robust bid for bonds across the credit and maturity curve today with the 10-Year Treasury Yield plunging by 17 basis points to close at 3.51% - the lowest close since September 21st. VICI Properties (VICI) announced that it reached a $5.5B deal to acquire the remaining 49.9% share in the MGM Grand and Mandalay Bay from Blackstone (BX) at a 5.6% implied cap rate, giving VICI full ownership of the properties.

Income Builder Daily Recap U.S. equity markets were little-changed Thursday but bonds posted a broad-based rally as interest rates dipped on cooler-than-expected PCE inflation data alongside disappointing jobless claims and manufacturing data. Hanging onto most of yesterday's rally and closing just below two-month highs, the S&P 500 slipped 0.1% today while the tech-heavy Nasdaq 100 finished higher by 0.1%. Real estate equities were mixed today with the Equity REIT Index slipping 0.3% with 5-of-18 property sectors in positive territory while the Mortgage REIT Index finished flat.

Homebuilders continued their recent rebound as mortgage rates fell for a third-straight week with the 30-Year Fixed Rate mortgage averaging 6.49% for the week - down from the peak of 7.08%. Another cooler-than-expected inflation report sparked a robust bid for bonds across the credit and maturity curve today with the 10-Year Treasury Yield plunging by 17 basis ...