REITs Flat In Q3 | Record Home Sales | Dividend Bump

September 30, 2020 | Hoya Capital

REITs Flat In Q3 | Record Home Sales | Dividend Bump Daily Recap Sep 30 Written By Daily Recap U.S. equity markets bounced-back Wednesday on the final day of a volatile third quarter on a strong slate of economic data and positive vaccine news following a contentious Presidential debate. Finishing with gains of 8.5% in Q3, the S&P 500 finished higher by 0.8% today while the tech-heavy Nasdaq 100 gained 0.7% today to end the quarter with roughly 11%.

Ending the quarter almost exactly flat, the broad-based Equity REIT ETF (VNQ) finished higher by 0.3% today with 11-of-18 property sectors in positive-territory. Mortgage REITs ended the quarter with 4% gains. Equities rallied on better-than-expected ADP employment data, which showed that U.S. firms added 749,000 jobs in September, far better than the 430k expected. Chicago PMI data also unexpectedly jumped to a 21-month high of 62.4 in September. Housing market data, which continues to be a bright spot of the recovery, was also better-than-expected with record-setting Pending Home Sales data and data showing robust mortgage demand for home purchases.

Real Estate Daily Recap U.S. equity markets bounced-back Wednesday on the final day of a volatile third quarter on a strong slate of economic data and positive vaccine news following a contentious Presidential debate last night. Finishing with gains of 8.5% in Q3, the S&P 500 ETF ( SPY ) finished higher by 0.8% today while the tech-heavy Nasdaq 100 ( QQQ ) gained 0.7% today to end the quarter with roughly 11% gains.

Ending the quarter almost exactly flat, the broad-based Equity REIT ETF ( VNQ ) finished higher by 0.3% today with 11 of 18 property sectors in positive territory. Mortgage REITs ( REM ) declined 0.1% but ended the quarter with gains of roughly 4%. Stock futures initially traded lower after a contentious - and at times, ugly - Presidential debate last night. Equities began to rally following better-than-expected ...