Dividend Boost | Urban Exodus | Lumber On Fire

September 11, 2020 | Hoya Capital

Dividend Boost | Urban Exodus | Lumber On Fire Uncategorized Sep 11 Written By Daily Recap U.S. equity markets were mixed Friday as the major averages ended lower for the second-straight week amid continued pressure on the previously-high-flying technology stocks. Ending the week lower by 2.5%, S&P 500 finished higher by 0.1% today. The tech-heavy Nasdaq 100, however, dipped 0.7% today and ended the week off by nearly 5%. Real estate equities modestly outperformed on the week.

Ending the week with declines of 2.2%, Equity REITs finished lower by 0.6% today with 14 of 18 sectors in negative territory. Casino and gaming REIT VICI Properties (VICI) became the 26th equity REIT to raise its dividend in 2020 above prior-year levels. On the other hand, we've tracked 64 equity REITs in our universe of 170 REITs to reduce or suspend their dividend since the start of the pandemic.

Apartment REIT AvalonBay Communities (AVB), which owns a heavily-urban portfolio, reported downward pressure on rents and occupancy in urban markets. Rents declined 4.8% for July and August while occupancy dipped 130 basis points. U.S. equity markets were mixed Friday as the major averages ended lower for the second-straight week amid continued pressure on the previously-high-flying technology stocks and as hopes dim on an extension of fiscal stimulus measures. Ending the week lower by 2.5%, S&P 500 ETF ( SPY ) finished higher by 0.1% today while the Dow Jones Industrial Average ( DJI ) rose 131 points.

The tech-heavy Nasdaq 100 ( QQQ ), however, dipped 0.7% today and ended the week off by nearly 5%. Real estate equities modestly outperformed on the week. Ending the week with declines of 2.2%, Equity REIT ETFs ( VNQ ) finished lower by 0.6% today with 14 of 18 property sectors in negative territory. The Mortgage REIT ETF ( REM ), meanwhile, finished lower by 0.7% to end the week with 1.0% declines.

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