REIT Rally Unfazed By Unrest [Daily Recap]

June 1, 2020 | Hoya Capital

REIT Rally Unfazed By Unrest [Daily Recap] Uncategorized Jun 1 Written By U.S. equity markets continued their positive momentum on Monday despite a weekend that saw violence in the streets in many U.S. cities as investors remain focused on advancing economic reopenings. Following gains of 3.0% last week and 3.1% the week before, the S&P 500 gained 0.4% on the day while the Dow Jones Industrial Average finished higher by 92 points.

Adding to combined 12% gains over the past two weeks, the broad-based Equity REIT ETFs gained another 2.3% today, ironically led by the retail sector despite images of widespread looting. Residential REITs were among the leaders after Equity Residential indicated that the rental sector has seen a V-shaped recovery in recent weeks, consistent with the rebound in the broader housing industry. With REITweek kicking off tomorrow, it will be a jam-packed week of real estate news flow.

We expect to hear updates on May rent collection from the majority of REITs this week. To continue reading, click here to visit Seeking Alpha! Comments (0) Newest First Oldest First Newest First Most Liked Least Liked Add Comment --> Preview Edit --> Post Comment… Previous Previous Who Paid Rent? Landlords Provide REITweek Updates Next Next Reopening Revival? REITs And Homebuilders Add To Rally