Fresh Records • Homebuilders Lead • Dividend Boosts

December 17, 2020 | Hoya Capital

Fresh Records • Homebuilders Lead • Dividend Boosts Daily Recap Dec 17 Written By Summary U.S. equity markets climbed to fresh record highs Thursday as the long-awaited fiscal stimulus extension reportedly nears completion while strong housing data offset data showing a continued uptick in jobless claims. On pace for gains of 1.6% this week, the S&P 500 finished higher by another 0.58% while the Dow Jones Industrial Average jumped 149-points and the Nasdaq 100 gained 0.65%.

Real estate equities were among the leaders today as the broad-based Equity REIT ETF (VNQ) finished higher by 1.0% with 14 of 18 property sectors finishing in positive territory. Lennar (LEN), the nation's second-largest homebuilder, reported strong quarterly results with order growth jumping 16% from last year and provided positive 2021 guidance as the firm sees nearly 20% growth in home deliveries next year. Two mortgage REITs and two equity REITs boosted their dividends over the last 24 hours.

To date, 67 of the 170 equity REITs in our coverage continue to pay dividends below their pre-pandemic rates. On the other side, 50 equity REITs are now paying dividends above their 2019 rates. Real Estate Daily Recap U.S. equity markets climbed to fresh record highs Thursday as the long-awaited fiscal stimulus extension reportedly nears completion while strong housing data offset data showing a continued uptick in jobless claims. On pace for gains of 1.6% this week, the S&P 500 ETF ( SPY ) finished higher by another 0.6% while the Dow Jones Industrial Average ( DIA ) jumped 149 points and the tech-heavy Nasdaq 100 ( QQQ ) gained 0.7%.