REIT Dividend Hike • Data Center Deal • Inflation Week

July 11, 2022 | Hoya Capital

REIT Dividend Hike • Data Center Deal • Inflation Week Real Estate Daily Recap Jul 11 Written By U.S. equity markets finished broadly lower Monday- erasing most of last week's gains- ahead of a critical week of inflation data that will have significant implications for interest rate hikes. Following gains of 1.9% last week, the S&P 500 retreated 1.2% today while the tech-heavy Nasdaq 100 dipped 2.1% following gains of nearly 5% last week.

Real estate equities were among the stronger performers today as benchmark interest rates moderated. The Equity REIT Index finished lower by 0.2% today with 5-of-18 REIT sectors in positive territory. Mortgage REIT Sachem Capital (SACH) rallied nearly 7% today after it hiked its quarterly dividend by 17% to $0.14 per share, representing a forward yield of 13.1%. American Tower (AMT) was among the strongest performers today after it announced that it sold a 29% state in its data center business for $2.5B to Stonepeak, an alternative investment firm.

Income Builder Daily Recap U.S. equity markets finished broadly lower Monday - erasing most of last week's gains - ahead of a critical week of inflation data that will have significant implications for the path of Federal Reserve rate hikes. Following gains of 1.9% last week, the S&P 500 retreated 1.2% today while the tech-heavy Nasdaq 100 dipped 2.1% following gains of nearly 5% last week. Real estate equities were among the stronger performers today as benchmark interest rates moderated.

The Equity REIT Index finished lower by 0.2% today with 5 of 18 REIT sectors in positive territory while the Mortgage REIT Index slipped 1.1% following strong gains last week. Global benchmark interest rates retreated today ahead of key inflation data later in the week which investors - and the Fed - are hoping will finally show signs of peaking price pressures. The 10-Year Treasury Yield dipped back below the 3.0% level - down 11 basis points on ...