Correction Deepens • Solid Job Gains • REIT Dividend Hikes

May 6, 2022 | Hoya Capital

Correction Deepens • Solid Job Gains • REIT Dividend Hikes Real Estate Daily Recap May 6 Written By U.S. equity markets were broadly lower again Friday - notching their fifth-straight week of declines- in yet another volatile session as strong employment data was unable to quell stagflation concerns. Posting its worst two-day performance since early 2020, the S&P 500 declined 0.6% today while the tech-heavy Nasdaq 100 declined another 1.2% to push its drawdown to over 23%.

Mortgage REIT Arbor Realty (ABR) was among the leaders after reporting better-than-expected results and raising its dividend for the second-time this year, which also marked its eighth consecutive quarterly increase. Tanger Outlets (SKT) slumped despite raising its full-year outlook and snapping a twelve-quarter streak of negative rent spreads dating back to Q1 of 2019. Tanger's FFO is still expected to be 24% below 2019-levels. DiamondRock (DHR) rallied today after noting that it expects 2022 hotel revenues to meet or exceed 2019-levels.

DHR also announced that it expects its common stock dividend to resume in Q3 of 2022. 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 were broadly lower again Friday - notching their fifth-straight week of declines - in yet another volatile session as strong employment data was unable to quell stagflation concerns. Posting its worst two-day performance since early 2020, the S&P 500 declined 0.6% today while the tech-heavy Nasdaq 100 declined another 1.2% to push its drawdown to over 23%.

Real estate equities were laggards throughout the ...