CPI Seesaw • REIT Earnings • Higher For Longer?

February 14, 2023 | Hoya Capital

CPI Seesaw • REIT Earnings • Higher For Longer? Real Estate Daily Recap Feb 14 Written By U.S. equity markets finished little-changed Tuesday in a seesaw session after the critical CPI report provided a mixed signal on the path of inflation, and by extension the Fed's rate-hike course. Recovering from intra-day declines of around 1%, the S&P 500 finished flat on the session while the tech-heavy Nasdaq 100 advanced 0.8%.

The Dow declined 157 points. Real estate equities were among the laggards today as benchmark interest rates crept higher. The Equity REIT Index slipped 0.7% today with 14-of-18 property sectors in negative territory while the. As expected, the Consumer Price Index showed a modest month-over-month uptick in inflation in January but a continued moderation in the annual rate, providing fodder to both sides of the inflation debate. The strong earnings season for the strip center REIT sector continued over the past 24 hours with a trio of better-than-expected reports from Kite Realty, Brixmor, and Urban Edge.

Income Builder Daily Recap U.S. equity markets finished little-changed Tuesday in a choppy session after the critical CPI report provided a mixed signal on the path of inflation - and by extension the Fed's monetary policy course with several officials suggesting that rates may need to be kept higher for longer. Recovering from intra-day declines of around 1%, the S&P 500 finished flat on the session while the tech-heavy Nasdaq 100 advanced 0.8%.

The Dow declined 157 points. Real estate equities were among the laggards today as benchmark interest rates crept higher. The Equity REIT Index slipped 0.7% today with 14-of-18 property sectors in negative territory while the Mortgage REIT Index declined 0.8% and Homebuilders slipped roughly 1%. As expected, the Consumer Price Index showed a modest month-over-month uptick in inflation in January but a continued moderation in the annual rate, providing fodder to both sides of the inflation debate.

Bond markets interpreted the ...