GDP Shrinks • Stocks Rebound • REIT Earnings Updates

April 28, 2022 | Hoya Capital

GDP Shrinks • Stocks Rebound • REIT Earnings Updates Real Estate Daily Recap Apr 28 Written By U.S. equity markets rallied Thursday despite GDP data showing a surprising contraction in real economic growth in the first quarter, raising questions about the potential pace of interest rate hikes. Bouncing back from sharp declines on Tuesday and climbing back into positive territory for the week, the S&P 500 advanced 2.4% today while the tech-heavy Nasdaq 100 rallied 3.4%.

Real estate equities were also broadly-higher following a very strong slate of earnings results over the past 24 hours. The Equity REIT Index gained 1.6% with 18-of-19 property sectors higher. Hersha Hospitality (HT) rallied 6% today after it reported a continued recovery in RevPAR and announced an agreement to sell roughly a quarter of its portfolio for $505M. After the completion of the transaction, HT will own 26 hotels in NYC, Miami, DC, Philadelphia, and LA.

Medical Properties Trust (MPW) advanced 6% after reporting solid results, commenting that its hospital assets "continue to perform exceptionally well, and the organic growth benefits provided by our inflation-protected leases." 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 rallied Thursday despite GDP data showing a surprising contraction in real economic growth in the first quarter, raising questions about the potential pace of interest rate hikes given the downshift in global economic activity. Bouncing back from sharp declines on Tuesday and climbing back into positive territory for the week, the S&P 500 advanced 2.4% today ...