REIT Dividend Hikes • Jobs Day Ahead • Cannabis Comeback?

August 4, 2022 | Hoya Capital

REIT Dividend Hikes • Jobs Day Ahead • Cannabis Comeback? Real Estate Daily Recap Aug 4 Written By U.S. equity markets were mixed Thursday ahead of the critical nonfarm payrolls report as disappointing jobless claims data and a downbeat BOE economic forecast sent benchmark rates back towards three-month lows. Still holding onto week-to-date gains of 0.5%, the S&P 500 retreated 0.1% today while Mid-Caps and Small-Caps posted steeper 1% declines, but the tech-heavy Nasdaq 100 finished higher by 0.3%.

Real estate equities were among the better-performers today following a strong slate of earnings reports and a trio of dividend hikes. The Equity REIT Index finished lower by 0.1% today. A trio of REITs hiked their dividends over the past 24 hours including shopping center REIT Federal Realty (FRT), which raised its quarterly dividend for the 55th consecutive year - the longest record of consecutive annual dividend increases in the REIT sector.

Innovative Industrial (IIPR) - a perennial outperformer that has been slammed this year on concerns over tenant credit issues - was among the leaders today after reporting solid results and providing updates on several troubled tenant operators. Real Estate Daily Recap U.S. equity markets were mixed Thursday ahead of the critical nonfarm payrolls report as disappointing jobless claims data and a downbeat BOE economic forecast sent benchmark rates back towards three-month lows.

Still holding onto week-to-date gains of 0.5%, the S&P 500 retreated 0.1% today while Mid-Caps and Small-Caps posted steeper 1% declines, but the tech-heavy Nasdaq 100 finished higher by 0.3%. The 10-Year Treasury Yield dipped seven basis points to 2.68% - its second lowest closing year since early April as Crude Oil prices dipped to the lowest-level since January. Real estate equities were among the better-performers today following a strong slate of earnings reports and a trio of dividend hikes.

The Equity REIT Index finished lower by 0.1% today with 9-of-18 property sectors in positive territory while ...