REIT Earnings • Housing Thaw • GDP Ahead

January 25, 2023 | Hoya Capital

REIT Earnings • Housing Thaw • GDP Ahead Real Estate Daily Recap Jan 25 Written By U.S. equity markets were mixed Wednesday - recovering from steep declines earlier in the session - as investors weighed downbeat commentary from Microsoft and Boeing against encouraging housing market data. Closing near session highs and maintaining its week-to-date gains, the S&P 500 finished fractionally lower today but the Mid-Cap 400 and Small-Cap 600 each advanced.

The Dow gained 10 points. Real estate equities were mixed today ahead of several closely-watched earnings reports this afternoon. The Equity REIT Index gained 0.1% today while Mortgage REITs slipped 0.2%. After the close today, Crown Castle (CCI) reported solid fourth-quarter results, recording full-year revenue growth of 10% and FFO growth of 6.2% - each slightly above the midpoint of its most recent guidance. Homebuilders were again among the upside standouts after mortgage market data showed a second-straight week of rebounding demand as rates moderate from recent decade-high peaks above 7.0%.

Income Builder Daily Recap U.S. equity markets were mixed Wednesday - recovering from steep declines earlier in the session - as investors weighed downbeat commentary from Microsoft and Boeing against encouraging housing market data. Closing near session highs and maintaining its week-to-date gains, the S&P 500 finished fractionally lower today but the Mid-Cap 400 and Small-Cap 600 each advanced. The Dow also gained 10 points. Real estate equities were mixed today ahead of several closely-watched earnings reports this afternoon.

The Equity REIT Index gained 0.1% today with 13-of-18 property sectors in positive territory while the Mortgage REIT Index slipped 0.2%. Homebuilders and the broader Hoya Capital Housing Index were again among the upside standouts after mortgage market data showed a second-straight week of rebounding demand as rates pull back from recent decade-high peaks of above 7.0% last November. Bonds were higher again today as well with the 10-Year Treasury Yield retreating 1 basis point to 3.46% - near ...