Record Week • Housing Heats-Up • REIT Dividend Boost

April 16, 2021 | Hoya Capital

Record Week • Housing Heats-Up • REIT Dividend Boost Daily Recap Apr 16 Written By Summary U.S. equity markets continued to rally Friday - closing at fresh record highs - after housing data and corporate earnings reports showed continued strength behind the domestic economic recovery. Finishing the week with gains of roughly 1.5%, the S&P 500 finished higher by 0.3% today while the Mid-Cap 400 gained 0.7% and the Small-Cap 600 climbed 0.4%.

Real estate equities finished a strong week with additional gains as the broad-based Equity REIT Index gained 0.2% today with 14-of-19 property sectors in positive territory. Net lease REIT Agree Realty (ADC) declared a $0.217/share monthly dividend, a 4.8% increase from its prior dividend rate. A record-setting 51 equity REITs raised their dividend in Q1. Housing Starts climbed to the strongest rate in nearly 15 years in March as the red-hot U.S. housing industry exhibited signs of reacceleration following a brief weather-related pause in February.

Real Estate Daily Recap U.S. equity markets continued to rally Friday - closing at fresh record highs -after housing data and corporate earnings reports showed continued strength behind the domestic economic recovery. Finishing the week with gains of roughly 1.5%, the S&P 500 ETF ( SPY ) finished higher by 0.3% today while the Mid-Cap 400 ( MDY ) gained 0.7% and the Small-Cap 600 ( SLY ) climbed 0.4%.

Real estate equities finished a strong week with additional gains as the broad-based Equity REIT ETFs ( VNQ ) gained 0.2% today with 14-of-19 property sectors in positive territory while the Mortgage REIT ETFs ( REM ) finished higher by 0.5%. The 10-Year Treasury Yield ticked higher today but finished the week lower by 9 basis points as investors backed off the consensus bets on rising inflation amid ongoing COVID concerns in Europe and Asia.

Eight of the eleven GICS equity sectors finished higher on the day, led to the upside by ...