Rates Jump • Hawkish Fed • Healthcare REIT Updates

April 5, 2022 | Hoya Capital

Rates Jump • Hawkish Fed • Healthcare REIT Updates Real Estate Daily Recap Apr 5 Written By U.S. equity markets declined Tuesday while the 10-Year Treasury Yield jumped to three-year highs following hawkish comments from Fed officials, indicating a plan to start balance sheet reduction next month. Giving back gains of 0.9% on Monday, the S&P 500 slipped 1.3% today while the tech-heavy Nasdaq 100 declined 2.2%. Mid-Caps and Small-Caps also lagged once again, declining 1.8% and 2.2%.

Real estate equities held their ground today despite the surge in yields, however, as the Equity REIT Index finished lower by 0.4% with 5-of-19 property sectors in positive territory. Skilled nursing REIT Omega Healthcare (OHI) slid 6% today after providing a business update in which it noted that an additional operator representing 2.4% of its total has stopped paying rent in March. Equinix (EQIX) completed its previously-announced deal to acquire West African data center and connectivity solutions provider MainOne for an enterprise value of $320M, marking the beginning of its expansion into the African continent.

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U.S. equity markets declined Tuesday while the 10-Year Treasury Yield jumped to three-year highs following hawkish comments from Fed officials, who indicated a plan to start balance sheet reduction as soon as next month. Giving back gains of 0.9% on Monday, the S&P 500 slipped 1.3% today while the tech-heavy Nasdaq 100 declined 2.2%. Mid-Caps and Small-Caps also lagged once again, declining 1.8% and 2.2%, respectively. Real estate ...