Record Day Leaves REITs Behind [Daily Recap]

February 5, 2020 | Hoya Capital

Record Day Leaves REITs Behind [Daily Recap] Uncategorized Feb 5 Written By U.S. equity markets rallied for the third-straight day, erasing the coronavirus-related losses over the prior two weeks, as earnings results, economic data, and domestic political developments have renewed investor optimism. The S&P 500 finished higher by 1.1%, closing at new record highs, while the Dow Jones Industrial Average added another 480 points after yesterday's 400 point gain. The broad-based commercial Real Estate ETF (VNQ) underperformed for the second-straight day, finishing fractionally higher and giving back it's YTD outperformance relative to the S&P 500.

Mall REITs remain in-focus after yesterday's reports that Simon Property (SPG) held merger talks with fellow mall REIT Taubman (TCO). TCO jumped another 7% on the day and is now higher by nearly 30% over the last month. Homebuilders resumed their 2020 rally, jumping another 3%, after solid results from Taylor Morrison and mortgage market data that suggested that strong housing demand will continue. To continue reading, click here to visit Seeking Alpha! Comments (0) Newest First Oldest First Newest First Most Liked Least Liked Add Comment --> Preview Edit --> Post Comment… Previous Previous VNQ: A David Vs.

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