REIT M&A • Strong Housing Data • REIT Earnings Updates

April 19, 2022 | Hoya Capital

REIT M&A • Strong Housing Data • REIT Earnings Updates Real Estate Daily Recap Apr 19 Written By U.S. equity markets rebounded Tuesday following better-than-expected housing data and a solid start to corporate earnings season while commodities prices declined on expectations of moderating economic growth outside the U.S. Following fractional declines yesterday, the S&P 500 finished higher by 1.6% today while the Mid-Cap 400 and Small-Caps each rallied more than 2%.

The 10-Year Yield climbed to 3-year-highs at 2.90%. Real estate equities were broadly higher today following a strong start to REIT earnings season and major M&A news. The Equity REIT Index rallied 2.1% with all 19 property-sectors in positive-territory. American Campus (ACC) surged more than 12% after agreeing to be acquired by Blackstone for $65.47/share, a 14% premium to Monday's close. Equity Lifestyle (ELS) and Prologis (PLD) each advanced more than 3% after kicking-off earnings season with very strong reports.

Homebuilding activity unexpectedly rose in March with Housing Starts increasing 0.3% from last month to a seasonally adjusted annual rate of 1.793 million - the strongest pace in over 15 years - as housing demand has remained surprisingly resilient despite the jump in mortgage rates. Income Builder Daily Recap We recently launched Hoya Capital Income Builder - a premier income-focused investment research service through Seeking Alpha Marketplace - that will be the new exclusive home of all of Hoya Capital's investment research.

Income Builder focuses on real income-producing asset classes that offer the opportunity for diversification, monthly income, capital appreciation, and inflation hedging. If you're not already on board, give us a try with a completely risk-free two-week trial and take a look around. U.S. equity markets rebounded Tuesday following better-than-expected housing data and a solid start to corporate earnings season while commodities prices declined on expectations of moderating economic growth outside the U.S.

Following fractional declines yesterday, the S&P 500 finished higher by 1.6% today while the Mid-Cap ...