REIT Dividend Hikes • Fed Goes Quiet • Stocks Snap Skid

September 9, 2022 | Hoya Capital

REIT Dividend Hikes • Fed Goes Quiet • Stocks Snap Skid Real Estate Daily Recap Sep 9 Written By U.S. equity markets were broadly-higher Friday - a third day of gains that snapped a three-week losing streak - as the Fed entered its "quiet period" ahead of its September meeting. Snapping a three-week skid with cumulative gains of 3.6%, the S&P 500 advanced 1.5% today while the tech-heavy Nasdaq 100 gained 2.2% to push its weekly gains to 4%.

Real estate equities were among the leaders throughout the week despite the early-week surge in rates. Pushing its weekly gains to nearly 4.5%, the Equity REIT Index advanced 1.1% today. Another day, another wave of REIT dividend increases. Casino REIT VICI Properties (VICI) boosted its quarterly dividend by 8% and office REIT Kilroy Realty (KRC) raised its quarterly payout by 4%. Equity Commonwealth (EQC) declared a $1.00/share special dividend. Shopping Center REIT Urstadt Biddle (UBA) gained about 1% after reporting solid third-quarter earnings results highlighted by a 7.1% increase in renewal spreads and a 20 basis point increase in its occupancy rate to 92.1%.

Real Estate Daily Recap U.S. equity markets were broadly-higher Friday - a third-day of gains that snapped a three-week losing streak - as the Federal Reserve entered its "quiet period" ahead of its September 21st meeting. Snapping a three-week skid with cumulative gains of 3.6%, the S&P 500 advanced 1.5% today while the tech-heavy Nasdaq 100 gained 2.2% to push its weekly gains to 4%. Real estate equities were among the leaders throughout the week despite the early-week surge in interest rates.

Pushing its weekly gains to nearly 4.5%, the Equity REIT Index advanced by 1.5% today with 16-of-18 property sectors in positive territory while the Mortgage REIT Index rallied 1.7%. Rebounding from eight-month lows, Crude Oil prices rallied more than 4% after Russian President Vladimir Putin threatened to halt oil and gas exports to Europe if ...