Hotel REIT Updates • Solid Jobs Data • Bonds Slump

April 7, 2022 | Hoya Capital

Hotel REIT Updates • Solid Jobs Data • Bonds Slump Real Estate Daily Recap Apr 7 Written By U.S. equity markets snapped a two-day skid Thursday while bonds remained under pressure as the 10-Year Treasury Yield climbed to its highest level in two years on expectations of aggressive monetary tightening. The S&P 500 advanced 0.5% today - but still remains lower by 1% on the week - while the tech-heavy Nasdaq 100 gained 0.4%.

Mid-Caps and Small-Caps were roughly flat today. Real estate equities lagged today - but remain one of the better-performing sectors this week - as the Equity REIT Index declined 0.8% with 15-of-19 property sectors in negative territory. A pair of hotel REITs provided operational updates today. Resort operator Braemar Hotels (BHR) noted that its Revenue Per Room ("RevPar") was 20% above pre-pandemic levels in Q1, but Ashford (AHT) saw RevPar levels that were 23% below that of Q1 2019.

Commercial mortgage REIT Hannon Armstrong (HASI) dipped over 7% after launching a $200M private placement of non-interest-bearing exchangeable bonds that can be converted into common stock. 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 snapped a two-day skid Thursday while bonds remained under pressure as the 10-Year Treasury Yield climbed to its highest level in two years on expectations of aggressive monetary tightening. The S&P 500 advanced 0.5% today - but still remains lower by 1% on the week - while the tech-heavy Nasdaq 100 gained 0.4%.

Mid-Caps and Small-Caps were roughly flat ...