Fed Ahead • Yields Rise • REIT Earnings Updates

May 2, 2022 | Hoya Capital

Fed Ahead • Yields Rise • REIT Earnings Updates Real Estate Daily Recap May 2 Written By U.S. equity markets rebounded Monday while benchmark Treasury yields climbed to their highest levels since 2018 in another volatile session ahead of a critical Federal Reserve meeting on Wednesday. Bouncing back from the worst one-day declines since 2020, the S&P 500 advanced 0.6%- finishing more than 2% above its intra-day lows - while the tech-heavy Nasdaq 100 rallied nearly 2%.

Real estate equities were laggards today, however, ahead of the business week of REIT earnings season as the Equity REIT Index declined 2.6% today with 18-of-19 property sectors in negative territory. VICI Properties (VICI) officially closed on its previously announced acquisition of MGM Growth Properties (MGP), making it the largest owner of hotel and conference real estate in America with an estimated enterprise value of $44B. A jam-packed week of REIT earnings kicked off this morning with results from Park Hotels (PK), which reported a slow but accelerating recovery in demand at its hotels.

STR noted that Revenue Per Available Room was up 10% nationally in the most recent week compared to 2019-levels. 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 rebounded Monday while benchmark Treasury yields climbed to their highest levels since 2018 in another volatile session ahead of a critical Federal Reserve meeting on Wednesday. Bouncing back from the worst one-day declines since 2020, the S&P 500 advanced 0.6% - finishing more than 2% above its intra-day ...