REIT Earnings Begin • Farmland Dividend Hike • Week Ahead

July 18, 2022 | Hoya Capital

REIT Earnings Begin • Farmland Dividend Hike • Week Ahead Real Estate Daily Recap Jul 18 Written By U.S. equity markets finished broadly lower Monday ahead of a busy week of earnings and economic data as stocks retreated from early-session gains despite relatively solid earnings results this morning. Following declines of 0.9% last week, the S&P 500 finished lower by 0.8% while the more domestic-focused Small-Cap 600 and Mid-Cap 400 finished essentially flat.

Real estate equities were mixed today as a rebound from retail and hotel REITs was offset by pressure on technology and industrial REITs. The Equity REIT Index declined 0.7% today. REIT earnings season kicked off this morning with very strong results from Prologis and Duke Realty - a pair of the most closely-watched reports of the entire month. PLD boosted its full-year FFO and NOI outlook while reporting a record-high 45.6% increase in effective rents.

Gladstone Land (LAND) was among the leaders today after it boosted its monthly dividend by 0.4%, its third dividend hike this year. Farmland REITs - which were the best-performing sector in the first quarter of this year - have sold off over the past quarter as concerns over inflation have been superseded by recession concerns. Income Builder Daily Recap U.S. equity markets finished broadly lower Monday ahead of a busy week of earnings and economic data as stocks retreated from early-session gains despite relatively solid earnings results this morning from several major banks.

Following declines of 0.9% last week, the S&P 500 finished lower by 0.8% while the more domestic-focused Small-Cap 600 and Mid-Cap 400 finished essentially flat. Real estate equities were mixed today as a rebound from retail and hotel REITs was offset by continued pressure on technology and industrial REITs despite strong results from the two largest logistics-focused REITs. The Equity REIT Index finished lower by 0.7% today with 11-of-18 property sectors in negative territory while the Mortgage REIT Index ...