REIT Dividend Hike • Stocks Rebound • Inflation Outlook Cools

July 15, 2022 | Hoya Capital

REIT Dividend Hike • Stocks Rebound • Inflation Outlook Cools Real Estate Daily Recap Jul 15 Written By U.S. equity markets rebounded Friday- snapping a five-session losing streak- lifted by solid retail sales data and corporate earnings results and from data showing a retreat in consumer inflation expectations. Continuing a late-session rebound that began Thursday and paring its weekly declines to below 1%, the S&P 500 rallied 1.9% today while the Small-Cap 600 advanced more than 2%.

Real estate equities were also broadly higher today and outperformed on the week as long-term benchmark interest rates moderated. The Equity REIT Index gained 1.7% with 17-of-18 property sectors in positive territory. National Retail (NNN) rallied more than 3% after hiking its quarterly dividend by 4% to $0.55 per share, representing a forward yield of 5.1%. National Retail becomes the 71st equity REIT to raise its dividend this year. The University of Michigan sentiment survey showed households’ expectations of where inflation will be in five years dropped more than expected to 2.8% from the previous reading of 3.1%.

Income Builder Daily Recap U.S. equity markets rebounded Friday- snapping a five-session losing streak- lifted by solid retail sales data and corporate earnings results and from data showing a retreat in consumer inflation expectations. Continuing a late-session rebound that began Thursday and paring its weekly declines to below 1%, the S&P 500 rallied 1.9% today while the Small-Cap 600 advanced more than 2%. Real estate equities were also broadly higher today and outperformed on the week as long-term benchmark interest rates moderated.

The Equity REIT Index finished higher by 1.7% with 17-of-18 property sectors in positive territory while the Mortgage REIT Index advanced 2.0%. The 10-Year Treasury Yield retreated modestly to 2.93% - well below its recent high of 3.50% reached in early June - after inflation expectations data this morning showed potential signs of light at the end of the tunnel for inflation. All ...