Dividend Boost | Vaccine Approval | Fresh Records

December 2, 2020 | Hoya Capital

Dividend Boost | Vaccine Approval | Fresh Records Daily Recap Dec 2 Written By Summary U.S. equity markets advanced Wednesday as signs of progress on stimulus talks and the first regulatory approval of a coronavirus vaccine in the U.K. lifted the major averages to fresh record-highs. Pushing its gains to roughly 1% this week, the S&P 500 gained 0.2% today while the Dow Jones Industrial Average gained another 60 points.

Energy stocks led the gains. After leading the gains yesterday, real estate equities were laggards today as the broad-based Equity REIT ETF declined by 0.8% today with 9 of the 18 property sectors in negative territory. Following a quiet few weeks of REIT-related newsflow, we are entering "dividend declaration season" which should be especially interesting this quarter following the wave of dividend cuts earlier this year. Net lease REIT Agree Realty (ADC) boosted its dividend for the second time this year.

ADC is one of 41 equity REITs that have increased their dividend this year compared to 66 that have cut or suspended. Real Estate Daily Recap U.S. equity markets advanced Wednesday as signs of progress on the stalled stimulus talks and the first regulatory approval of a coronavirus vaccine in the U.K. lifted the major averages to fresh record-highs. Pushing its gains to roughly 1% this week, the S&P 500 ETF ( SPY ) gained 0.2% today while the Dow Jones Industrial Average ( DIA ) gained another 60 points and the Nasdaq 100 ( QQQ ) advanced 0.1%.

After leading the gains yesterday, real estate equities were laggards today as the broad-based Equity REIT ETF ( VNQ ) declined by 0.8% today with 9 of the 18 property sectors in negative territory while the Mortgage REIT ETF ( REM ) gained 1.3%. The wave of positive vaccine news continued this morning as the UK became the first western nation to approve a coronavirus vaccine after authorizing Pfizer's ( ...