REITs On Top • Stocks Slip • Strong Jobs Data

December 30, 2021 | Hoya Capital

REITs On Top • Stocks Slip • Strong Jobs Data Daily Recap Dec 30 Written By Summary U.S. equity markets were lower Thursday on another quiet trading session despite strong initial jobless claims data which provided further evidence that U.S. consumers are unfazed by the COVID reacceleration. Retreating from yesterday's 70th record closing high of 2021, the S&P 500 slipped 0.3% today while the Mid-Cap 400 and the Small-Cap 600 each declined 0.2%.

Real estate equities were again among the leaders today as the Equity REIT Index advanced 0.4% with 16-of-19 property sectors in positive territory while the Mortgage REIT Index declined by 0.3%. Absent some extreme volatility tomorrow, REITs will end the year as the best-performing major asset class with total returns of roughly 40% amid a robust recovery and historic year of dividend increases. Casino REIT Gaming & Leisure Properties (GLPI) announced yesterday afternoon that it completed its previously announced transaction to acquire the land and real estate assets of Live! Casino & Hotel Maryland from The Cordish Companies for $1.14 billion.

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U.S. equity markets were lower Thursday on another quiet trading session despite strong initial jobless claims data which provided further evidence that U.S. consumers and businesses are largely unfazed by the COVID reacceleration. Retreating from yesterday's 70th record closing high of 2021, the S&P 500 slipped 0.3% today while the Mid-Cap 400 declined 0.3% and the Small-Cap 600 fell 0.5%. Real estate equities were again among the ...