Earnings Heat-Up • REIT Results • Builders See Strong 2022

February 1, 2022 | Hoya Capital

Earnings Heat-Up • REIT Results • Builders See Strong 2022 Real Estate Daily Recap Feb 1 Written By Summary U.S. equity markets posted their third-straight day of gains Tuesday as strong corporate earnings reports and strong guidance have calmed investor jitters about the impacts of inflation and rising rates. Back within 5% of record-highs after briefly dipping into correction territory last week, the S&P 500 advanced another 0.7% today while the Mid-Cap 400 rallied 1.1% and the Small-Cap 600 gained 0.8%.

Real estate equities were mixed today as earnings season begins to heat-up. The Equity REIT Index finished roughly flat with 9-of-19 property sectors in positive territory. Mortgage REITs slipped 0.5%. Homebuilder PulteGroup (PHM) gained after reporting strong Q4 results and provided guidance calling for accelerating growth across all key metrics in 2022 including gross margins, which comes despite the ongoing supply chain and cost headwinds. Alexandria Real Estate (ARE) finished slightly higher today after reporting another strong quarter as lab space continues to be one of the hottest segments of the U.S. real estate market.

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U.S. equity markets posted their third-straight day of gains Tuesday as strong corporate earnings reports and strong guidance - notably from UPS today - have calmed investor jitters about the impacts of inflation and rising rates. Back within 5% of record-highs after briefly dipping into correction territory last week, the S&P 500 advanced another 0.7% today while the Mid-Cap 400 rallied 1.1% and the Small-Cap ...