Post-Fed Rally • REIT Dividend Hikes • Strong Housing Data

December 15, 2021 | Hoya Capital

Post-Fed Rally • REIT Dividend Hikes • Strong Housing Data Daily Recap Dec 15 Written By Summary U.S. equity markets rallied Wednesday, responding favorably to confirmation from the Fed that it will accelerate its wind-down of monetary stimulus efforts as it attempts to cool inflation. Reversing two days of losses and erasing its week-to-date declines, the S&P 500 gained 1.6% today while the Mid-Cap 400 advanced 1.0% and the Small-Cap 600 rose 1.2%.

Real estate equities were among the leaders today with the Equity REIT Index climbing 1.4% with 17-of-19 property sectors in positive territory while Mortgage REITs gained 1.1%. Some more early Christmas gifts have arrived under the tree as the wave of REIT dividend hikes continued with boosts from casino REIT MGM Growth Properties (MGP) and cannabis REIT AFC Gamma (AFCG). Powered by stronger buyer traffic, Homebuilder Sentiment improved to 10-month highs in early December, consistent with recent housing market data showing an acceleration in activity following a summer lull.

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U.S. equity markets rallied Wednesday, responding favorably to confirmation from the Fed that it will accelerate its wind-down of monetary stimulus efforts as it attempts to cool inflation without derailing the economic recovery. Reversing two days of declines and erasing its week-to-date declines, the S&P 500 gained 1.6% today while the Mid-Cap 400 advanced 1.0% and the Small-Cap 600 rose 1.2%. Real estate equities were among the leaders today with the Equity REIT Index climbing 1.4% with 17-of-19 property ...