Midterms Ahead • REIT Earnings • Inflation Week

November 7, 2022 | Hoya Capital

Midterms Ahead • REIT Earnings • Inflation Week Real Estate Daily Recap Nov 7 Written By U.S. equity markets rebounded Monday while interest rates pushed towards two-decade highs ahead of a busy week of market-moving events including Election Day on Tuesday and CPI inflation data on Thursday. Bouncing back from declines of more than 3% last week, the S&P 500 rebounded by 1.0% today while the tech-heavy Nasdaq 100 advanced 1.1%.

Real estate equities were mixed ahead of the final stretch of earnings season with reports from the final two-dozen REITs this week. Equity REITs were flat while Mortgage REITs gained 1.3%. Bond markets remained under pressure today despite an increasingly bleak outlook for global economic growth outlook with China doubling down on its "Covid-Zero" policy while Facebook joined a growing list of tech companies to announce layoffs or hiring freezes over the past week.

Small-cap City Office REIT (CIO) dipped 4% after reporting mixed results - reiterating its full-year FFO outlook calling for impressive FFO growth of 14.3%, but providing a cautious outlook for 2023. Major REIT report this week include Welltower, Spirit Realty, and Healthcare Realty. Income Builder Daily Recap U.S. equity markets rebounded Monday while interest rates pushed towards fresh two-decade highs ahead of a busy week of market-moving events including Election Day on Tuesday and CPI inflation on Thursday.

Bouncing back from declines of more than 3% last week, the S&P 500 rebounded by 1.0% today while the tech-heavy Nasdaq 100 advanced 1.1%. Real estate equities were mixed today ahead of the final stretch of earnings season with reports from the final two dozen REITs this week. The Equity REIT Index finished flat today with 7-of-18 property sectors in positive territory while the Mortgage REIT Index advanced 1.3% and Homebuilders rebounded 2.8%.

Bond markets remained under pressure today despite an increasingly bleak outlook for global economic growth outlook with China doubling down on its "Covid-Zero" policy ...