Dividend Boosts | Tech Rebound | Rent Collection Improves

September 15, 2020 | Hoya Capital

Dividend Boosts | Tech Rebound | Rent Collection Improves Daily Recap Sep 15 Written By Daily Recap U.S. equity markets finished higher Tuesday led by a rebound in technology stocks following strong economic data out of China as investors await a busy slate of U.S. economic data. After gaining 1.3% yesterday, the S&P 500 finished higher by 0.5% while the tech-heavy Nasdaq 100 jumped 1.4% following yesterday's 1.7% gains. The Dow Jones Industrial Average finished flat.

After jumping 2.5% yesterday, real estate equities again led the gains today as the broad-based Equity REIT ETFs finished higher by 1.2% today with 13 of 18 sectors in positive-territory. It was a frenetic day of REIT news flow with a flurry of rent collection updates and dividend announcements. STORE Capital (STOR) and Innovative Industrial (IIPR) each raised their dividend. 28 equity REITs have boosted payouts in 2020 while 64 have reduced distributions.

Homebuilders Lennar (LEN) and MDC Holdings (MDC) each reported strong results as the housing industry continues to lead the recovery, but surging lumber prices may constrain potential upside in gross margins. Real Estate Daily Recap U.S. equity markets finished higher Tuesday led by a rebound in technology stocks following strong economic data out of China as investors await a busy slate of U.S. economic data over the next 48 hours.

After gaining 1.3% yesterday, the S&P 500 ETF ( SPY ) finished higher by 0.5% while the tech-heavy Nasdaq 100 ( QQQ ) jumped 1.4% following yesterday's 1.7% gains. After jumping 2.5% yesterday, real estate equities again led the gains today as the broad-based Equity REIT ETF ( VNQ ) finished higher by 1.2% today with 13 of 18 property sectors in positive territory. The Mortgage REIT ETF ( REM ), meanwhile, declined by 0.9% after gaining 3.4% yesterday.

The rebound in technology shares today follows two weeks of selling pressure that pushed the Nasdaq 100 into "correction territory" with declines ...