Hard Landing? • Stocks Tumble • REIT Dividend Hikes

June 16, 2022 | Hoya Capital

Hard Landing? • Stocks Tumble • REIT Dividend Hikes Real Estate Daily Recap Jun 16 Written By U.S. equity markets plunged Thursday as investors digested the Fed's aggressive tightening tack and following data showing a notable slowdown in activity across the employment and housing markets. Retracing all of yesterday's rebound and falling to the lowest level since early 2021, the S&P 500 dipped another 3.3% today - extending its drawdown to over 23%.

Real estate equities were broadly lower as well today despite a half-dozen dividend hikes announced yesterday afternoon. The Equity REIT Index declined 2.6% today all 19 property sectors in negative territory. Economic data this morning added further selling pressure as Initial Jobless Claims data showed a notable uptick in unemployment filings while Housing Starts declined to the lowest level since April 2020. A half-dozen REITs raised their dividends over the past 24 hours, bringing the full-year total across the sector to over 70.

After the close today, W. P. Carey (WPC) hiked its quarterly dividend for the second 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 plunged Thursday as investors digested the Fed's aggressive tightening tack and following data showing a notable slowdown in economic activity across the employment and housing market. Retracing all of yesterday's rebound and falling to the lowest level since early 2021, the S&P 500 dipped another 3.3% today - extending its drawdown to over 23% - while the tech-heavy Nasdaq 100 dipped 4% to the ...