Double-Digit PPI • Yields Dip • REIT Dividend Hike

May 12, 2022 | Hoya Capital

Double-Digit PPI • Yields Dip • REIT Dividend Hike Real Estate Daily Recap May 12 Written By U.S. equity markets continued their skid Thursday in another turbulent session following another hotter-than-expected inflation report, but concerns over global economic growth dragged down longer-term interest rates. Flirting with "bear-market" territory before paring its declines late in the session, the S&P 500 declined another 0.2% today while the Dow declined for a sixth-straight session.

Real estate equities were relative outperformers for a second-straight session amid the pull-back in yields as the Equity REIT Index advanced by 0.8% today with 14-of-19 property sectors in positive. The Bureau of Labor Statistics reported this morning that Producer Prices soared at an 11.0% annual rate in April - above consensus estimates of 10.7% - and marked the second-highest annual inflation rate on record behind the 11.5% rate in March.

Shopping center REIT Kite Realty (KRG) - which we hold in the REIT Dividend Growth Portfolio - advanced nearly 3% after it hiked its dividend for the third time this year. Income Builder Daily Recap We recently launched Hoya Capital Income Builder - a premier income-focused investment research service through Seeking Alpha Marketplace - that will be the new exclusive home of all of Hoya Capital's investment research. Income Builder focuses on real income-producing asset classes that offer the opportunity for diversification, monthly income, capital appreciation, and inflation hedging.

If you're not already on board, give us a try with a completely risk-free two-week trial and take a look around. U.S. equity markets continued their skid Thursday in another turbulent session following another hotter-than-expected inflation report, but concerns over global economic growth dragged down longer-term interest rates. Flirting with "bear-market" territory before paring its declines late in the session, the S&P 500 declined another 0.2% today while the Dow declined for a sixth-straight session, but the Small-Cap 600 advanced 1.2% and the Mid-Cap 400 advanced 0.9%.

Real estate ...