Dividend Hikes | Guidance Boosts | Earnings Heat-Up

October 21, 2020 | Hoya Capital

Dividend Hikes | Guidance Boosts | Earnings Heat-Up Daily Recap Oct 21 Written By Daily Recap U.S. equity markets finished lower Wednesday amid a continued stalemate on a renewed fiscal stimulus package as investors parse a frenetic slate of corporate earnings reports and political developments. Coming off gains of 1.5% yesterday, the S&P 500 finished lower by 0.2% today while the tech-heavy Nasdaq 100 declined by 0.1% and the Dow Jones Industrial Average dipped 98-points.

After gains of 0.8% yesterday and ahead of a busy slate of earnings, the broad-based Equity REIT ETF (VNQ) finished lower by 0.3% with 11 of 18 sectors in negative-territory. Net lease REITs Alpine Income (PINE) and cell tower REIT Crown Castle (CCI) became the 32nd and 33rd equity REIT to raise its dividend this year. Meanwhile, Industrial REITs Rexford (REXR) and First Industrial (FR) boosted FFO guidance. Homebuilders pulled back today despite more strong housing data this morning.

Mortgage applications to purchase a single-family home remained strong last week and are now higher by 26% from last year. Existing Home Sales data is released tomorrow morning. Real Estate Daily Recap U.S. equity markets finished lower Wednesday amid a continued stalemate on a renewed fiscal stimulus package as investors parse a frenetic slate of corporate earnings reports and political developments. Coming off gains of 1.5% yesterday, the S&P 500 ETF ( SPY ) finished lower by 0.2% today while the tech-heavy Nasdaq 100 ( QQQ ) declined by 0.1% and the Dow Jones Industrial Average ( DIA ) dipped 98 points.

After gains of 0.8% yesterday and ahead of a busy slate of earnings, the broad-based Equity REIT ETF ( VNQ ) finished lower by 0.3% with 8 of 18 property sectors in positive territory while the Mortgage REIT ETF ( REM ) declined 0.9% on the day. Concerns over a " second wave " of the coronavirus pandemic - which has sent several Eurozone ...