IPO Mania? • Housing Leads • More Dividend Boosts

December 9, 2020 | Hoya Capital

IPO Mania? • Housing Leads • More Dividend Boosts Daily Recap Dec 9 Written By Summary U.S. equity markets pulled back from record-highs Wednesday despite signs of slow-but-steady progress on a stimulus package as investors await the rollout of the coronavirus vaccine in the United States. The tech-heavy Nasdaq 100 was under pressure today amid an IPO frenzy as Doordash (DASH) surged in its debut while Airbnb (ABNB) priced its IPO with an implied valuation of.

Real estate equities were mixed on the day as the broad-based Equity REIT ETF (VNQ) declined by 0.6% today with 11 of the 18 property sectors in negative territory. The wave of REIT dividend boosts continued as CoreSite (COR) became the 48th equity REIT to boost its dividend this year while WP Carey (WPC) raised its dividend for the second time. 66 REITs have reduced their payout this year. The U.S. housing market is showing few signs of slowing.

The MBA reported mortgage applications to purchase a single-family home - a forward-looking indicator of future home sales - are now higher by 22% from last year. Real Estate Daily Recap U.S. equity markets pulled back from record-highs Wednesday despite signs of slow-but-steady progress on a stimulus package as investors await the rollout of the coronavirus vaccine in the United States. After closing at record-highs for the 30th time this year yesterday, the S&P 500 ETF ( SPY ) pulled back 0.9% while the Dow Jones Industrial Average ( DIA ) dipped 105 points.

Real estate equities were mixed on the day as the broad-based Equity REIT ETF ( VNQ ) declined by 0.6% today with 11 of the 18 property sectors in negative territory. The Mortgage REIT ETF ( REM ) declined 0.6% on the day. The tech-heavy Nasdaq 100 ( QQQ ) was under pressure today amid an IPO frenzy as Doordash ( DASH ) surged in its debut while Airbnb ( ABNB ...