REITs Extend Reopening Rally [Daily Recap]

May 22, 2020 | Hoya Capital

REITs Extend Reopening Rally [Daily Recap] Uncategorized May 22 Written By U.S. equity markets finished mostly higher of Friday, completing a strong week as more U.S. states and countries reopen their economy while coronavirus cases continue to decline. Finishing with gains of more than 3% this week, the S&P 500 gained 0.2% on Friday. The Small-Cap 600 and Mid-Cap 400 ended the week with gains of over 7%. Real estate equities led the gains this week, reversing almost all of last week's steep declines, led by a bounce-back in many of the most beaten-down property sectors.

The broad-based Equity REIT ETFs finished higher by 0.8% on the day - and 7.0% on the week- while Mortgage REIT ETFs gained by 0.8% to end the week with gains of nearly 11%. Homebuilders surged another 20% this week after new data from Redfin showed a stunning V-shaped rebound in housing market activity over the last five weeks. Real Estate Daily Recap U.S. equity markets finished mostly higher of Friday, completing a strong week as more U.S. states and countries around the world reopen their economy while coronavirus cases continue to decline .

Finishing with gains of more than 3% this week, the S&P 500 ETF ( SPY ) gained 0.2% on Friday while the Dow Jones Industrial Average ( DIA ) finished lower by 9 points but also ended the week with gains of more than 3%. Real estate equities led the gains this week, reversing almost all of last week's steep declines, led by a bounce-back in many of the most beaten-down property sectors.

The broad-based Equity REIT ETFs finished higher by 0.8% on the day - and 7.0% on the week- while Mortgage REIT ETFs gained by 0.8% to end the week with gains of nearly 11%. Click here to read the full report on Seeking Alpha! Comments (0) Newest First Oldest First Newest First Most Liked Least Liked Add ...