REITs Rally | Apartment Spin-Off | Vaccine Restart

September 14, 2020 | Hoya Capital

REITs Rally | Apartment Spin-Off | Vaccine Restart Uncategorized Sep 14 Written By Daily Recap U.S. equity markets rebounded Monday following two-straight weeks of declines amid a flurry of M&A news and after clinical trials of a leading vaccine candidate were restarted in the U.K. Recovering from a 2.5% decline last week, S&P 500 finished higher by 1.3% while the tech-heavy Nasdaq 100 gained 1.7% after dipping into correction territory last week.

Real estate equities led the gains today as the broad-based Equity REIT ETF (VNQ) finished higher by 2.5% today with all 18 property sectors in positive territory. Apartment Investment and Management (AIV) jumped more than 7% today after it announced plans to split into two separate publicly traded companies. Student housing REIT American Campus (ACC) jumped more than 5% after it announced that its portfolio is 90.3% leased for the academic year as students returned to flagship "college towns" despite fully-remote learning options as many institutions.

U.S. equity markets rebounded Monday following two-straight weeks of declines amid a flurry of M&A news and after clinical trials of a leading vaccine candidate from AstraZeneca ( AZN ) were restarted in the U.K. after a safety-related pause while U.S. trials remain on hold. Recovering from a 2.5% decline last week, S&P 500 ETF ( SPY ) finished higher by 1.3% while the tech-heavy Nasdaq 100 ( QQQ ) gained 1.7% after dipping into correction territory last week.

Real estate equities led the gains today as the broad-based Equity REIT ETF ( VNQ ) finished higher by 2.5% today with all 18 property sectors in positive territory. The Mortgage REIT ETF ( REM ), meanwhile, jumped 3.4%. As discussed in our Real Estate Weekly Outlook , the recent choppiness in financial markets has been exacerbated by Congress' inability to reach a compromise on a renewed coronavirus relief bill, but solid economic data and encouraging coronavirus trends in the United States have ...