Cracks In Consumer • Global Inflation • REIT Dividend Hike

May 18, 2022 | Hoya Capital

Cracks In Consumer • Global Inflation • REIT Dividend Hike Real Estate Daily Recap May 18 Written By U.S. equity markets plunged Wednesday amid mounting anxiety over looming stagflation following disappointing retail earnings results, mixed housing market data, and red-hot inflation data in the U.K. and Canada. Posting its worst day since June 2020 and pushing its drawdown to 18%, the S&P 500 slid 4.0% today while the tech-heavy Nasdaq 100 dipped 5.2% with its drawdown approaching 30%.

Real estate equities were also broadly lower today as the Equity REIT Index declined 3.0% with all 19 property sectors in negative territory while Mortgage REITs declined 2.8%. Revealing potential "cracks in the consumer" economy, Target (TGT) plunged nearly 25% after reporting a "rapid slowdown" in key categories, which followed a similar dive from Walmart (WMT) on Tuesday. Mid America Apartments (MAA) was among the better-performers today after it became the 60th equity REIT to hike its dividend this year, announcing a 14.9% increase in its quarterly payout.

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U.S. equity markets plunged Wednesday amid mounting anxiety over looming stagflation following disappointing retail earnings results, mixed housing market data, and red-hot inflation data in the U.K. and Canada. Posting its worst day since June 2020 and pushing its drawdown to 18%, the S&P 500 slid 4.0% today while the tech-heavy Nasdaq 100 dipped 5.2% as its drawdown now approaching 30%. Real estate equities were also broadly lower today as the Equity REIT Index declined ...