Logistics Rents Surge • Netflix Crash • REIT Earnings

April 19, 2022 | Hoya Capital

Logistics Rents Surge • Netflix Crash • REIT Earnings Real Estate Daily Recap Apr 20 Written By U.S. equity markets finished mostly-higher Wednesday while bonds finally caught a bid as corporate earnings season kicked into high gear with a notable miss from streaming media pioneer Netflix. Climbing back into positive territory for the week, the S&P 500 finished roughly flat today but the Mid-Cap 400 advanced 0.9% and the Small-Cap 600 gained 0.7%.

Real estate equities were broadly higher for a second straight day amid a strong start to earnings season as the Equity REIT Index advanced 2.0% with 18-of-19 property sectors in positive-territory. Industrial REIT Rexford (REXR) rallied more than 6% today after reporting strong results and raising its full-year 2022 outlook across all metrics. REXR recorded incredible cash leasing spreads of over 50% amid insatiable demand for logistics space. Existing Home Sales moderated in March amid a historic surge in mortgage rates, but housing inventory levels remain near historic lows with just 2.0 months of supply, which continues to keep upward pressure on prices.

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U.S. equity markets finished mostly-higher Wednesday while bonds finally caught a bid as corporate earnings season kicked into high gear with a notable miss from streaming media pioneer Netflix. Climbing back into positive territory for the week, the S&P 500 finished roughly flat today but the Mid-Cap 400 advanced 0.9% and the Small-Cap 600 gained 0.7%. The tech-heavy Nasdaq 100 , however, dipped 1.5% amid ...