REITs Lead • Retail Lags • Prison Dividend Cut

January 15, 2021 | Hoya Capital

REITs Lead • Retail Lags • Prison Dividend Cut Daily Recap Jan 15 Written By Summary U.S. equity markets declined Friday, ending the week with modest declines, as economic data and corporate earnings reports indicated that the U.S. stumbled into the end of 2020. Ending the week with declines of 1.5% the S&P 500 finished lower by 0.7% today while the Dow Jones Industrial Average declined by 177 points. Small-Caps and Mid-Caps were laggards today.

Real estate equities outperformed for the third-straight day to end the week with 2% gains as the Equity REIT ETF finished higher by 1.2% today with 13-of-19 property sectors higher. Retail Sales data underscored the choppy and uneven economic recovery. Sales were shy of consensus estimates in December, declining by 0.7% from the prior month, the third-straight month of sequential declines. Prison REIT GEO Group (GEO) gained 2.9% today despite announcing that it slashed its dividend for the second time as the private prison industry faces an uncertain future.

Real Estate Daily Recap U.S. equity markets declined Friday, ending the week with modest declines, as economic data and corporate earnings reports indicated that the U.S. stumbled into the end of 2020 amid the second-wave of the pandemic. Ending the week with declines of 1.5% the S&P 500 ETF ( SPY ) finished lower by 0.7% today while the Dow Jones Industrial Average ( DIA ) declined by 177 points.

Real estate equities outperformed for the third-straight day to end the week with 2% gains as the broad-based Equity REIT ETF ( VNQ ) finished higher by 1.2% today with 13 of 19 property sectors in positive territory while the Mortgage REIT ETF ( REM ) finished lower by 0.9%. Four of the eleven GICS equity sectors finished in positive territory today led by the yield-sensitive sectors - Commerical Real Estate ( XLRE ) and Utilities ( XLU ) - as the 10-Year Treasury Yield retreated ...