REIT Earnings • Risk-On • Home Sales Slow

July 20, 2022 | Hoya Capital

REIT Earnings • Risk-On • Home Sales Slow Real Estate Daily Recap Jul 20 Written By U.S. equity markets posted broad-based gains for a second day Wednesday as solid corporate earnings results and emerging signs of cooling global inflation have pulled some investors back into risk assets. Posting its first back-to-back gain in two weeks and pushing its weekly gains to 2.5%, the S&P 500 advanced 0.6% today while the tech-heavy Nasdaq 100 rallied 1.6%.

Real estate equities were mixed today as investors gear up for a busy slate of REIT earnings reports over the coming two weeks. The Equity REIT Index slipped 0.2%. After the close today, Rexford Industrial (REXR) reported very strong earnings results while significantly boosting its full-year outlook, the third better-than-expected industrial earnings report this season amid concerns over a potential slowdown in leasing demand. Homebuilders lagged following weaker-than-expected Existing Home Sales data, which declined to the slowest pace since early in the pandemic while mortgage demand has been similarly weak.

Income Builder Daily Recap U.S. equity markets posted broad-based gains for a second day Wednesday as solid corporate earnings results and emerging signs of cooling global inflation have pulled some investors back into risk assets. Posting its first back-to-back gain in two weeks and pushing its weekly gains to 2.5%, the S&P 500 advanced 0.6% today while the tech-heavy Nasdaq 100 rallied 1.6%. Real estate equities were mixed today as investors gear up for a busy slate of REIT earnings reports over the coming two weeks.

The Equity REIT Index slipped 0.2% with 13-of-18 property sectors in positive territory while the Mortgage REIT Index gained 0.9%. Homebuilders lagged following weaker-than-expected Existing Home Sales data, which declined to the slowest pace since early in the pandemic while mortgage demand has been similarly weak. Real Estate Daily Recap Best & Worst Performance Today Across the REIT Sector Industrial : After the close today, Rexford Industrial ( REXR ...