REIT Earnings • Beat And Boost • Housing Stays Hot

April 21, 2021 | Hoya Capital

REIT Earnings • Beat And Boost • Housing Stays Hot Daily Recap Apr 21 Written By Summary U.S. equity markets rebounded Wednesday following two days of declines as investors digest a frenetic slate of corporate earnings reports while bond yields remain under pressure from ongoing COIVD issues abroad. Now back within 0.5% of fresh record-highs, the S&P 500 gained 0.9% today while the Mid-Cap 400 gained 1.7% and the Small-Cap 600 rallied 1.8%.

Real estate equities continued their strong week ahead of a handful of earnings reports this afternoon. The broad-based Equity REIT Index finished higher by 0.7% with 15-of-19 property sectors in positive-territory. Mortgage applications to purchase a home increased 7% from last week and were 57% higher from last year, according to data this morning from the MBA. Mortgage rates declined to two-month lows. This afternoon, we'll hear results from industrial REITs Rexford (REXR) and First Industrial (FR), office REITs SL Green (SLG) and Brandywine (BDN), and cell tower REIT Crown Castle (CCI).

Real Estate Daily Recap U.S. equity markets rebounded Wednesday following two days of declines as investors digest a frenetic slate of corporate earnings reports while bond yields remain under pressure from ongoing COIVD issues abroad. Now back within 0.5% of fresh record-highs, the S&P 500 ETF ( SPY ) gained 1.0% today while the Mid-Cap 400 ( MDY ) gained 1.7% and the Small-Cap 600 ( SLY ) rallied 2.3%.

Real estate equities continued their strong week ahead of a handful of earnings reports this afternoon. The broad-based Equity REIT ETFs ( VNQ ) finished higher by 0.7% today with 15-of-19 property sectors in positive territory while Mortgage REITs ( REM ) rallied 1.2%. Reversing the trends from earlier in the week, reopening-sensitive stocks led the way today while COVID-winner Netflix ( NFLX ) dipped more than 7% today after posting disappointing subscriber growth.

Ten of the eleven GICS equity sectors finished higher on the ...