REIT Dividend Hikes | Home Prices Surge | Earnings Recap

October 27, 2020 | Hoya Capital

REIT Dividend Hikes | Home Prices Surge | Earnings Recap Daily Recap Oct 27 Written By Daily Recap U.S. equity markets finished mostly lower Tuesday despite a solid slate of economic and corporate earnings this morning as the "second wave" of the pandemic and political uncertainty pressured sentiment. Following a 1.9% dip yesterday, the S&P 500 declined by 0.3% today while the tech-heavy Nasdaq 100 finished higher by 0.8% and the Dow Jones Industrial Average declined by 222-points.

Real estate equities were under-performers today amid a busy 24-hours of earnings results, however, as the broad-based Equity REIT ETF (VNQ) declined by 1.6%. NexPoint Residential (NXRT) - which owns a Sunbelt-heavy multifamily portfolio - jumped after reporting strong rent collection and rent growth metrics and boosted its quarterly dividend by 9.2%, becoming the 35th equity REIT to raise its dividend in 2020. The trend of stellar housing data continued as home prices rose by the strongest rate in two years as record-setting demand for single-family housing clashes with record-low inventory levels.

All regions in the Case Shiller House Price Index reported accelerating home price appreciation. Real Estate Daily Recap U.S. equity markets finished mostly lower Tuesday despite a solid slate of economic and corporate earnings results this morning as the "second wave" of the pandemic and political uncertainty weighed on investor sentiment. Following a 1.9% dip yesterday, the S&P 500 ETF ( SPY ) declined by 0.3% today while the tech-heavy Nasdaq 100 ( QQQ ) finished higher by 0.8% and the Dow Jones Industrial Average ( DIA ) declined by 222 points.

Real estate equities were under-performers today amid a busy 24-hours of earnings results as the broad-based Equity REIT ETF ( VNQ ) declined by 1.6% today with 17 of 18 property sectors finishing in negative territory while the Mortgage REIT ETF ( REM ) declined by 0.2%. With a stimulus deal seemingly off-the-table before next week's election, investors ...