REITs Rally • Home Price Declines • Earnings Updates

October 25, 2022 | Hoya Capital

REITs Rally • Home Price Declines • Earnings Updates Real Estate Daily Recap Oct 25 Written By U.S. equity markets advanced for a third-day Tuesday, lifted by solid earnings results and a retreat in long-term interest rates on data showing a steep monthly decline in home prices. Pushing its rebound since the start of last week to over 7%, the S&P 500 advanced another 1.6% today. The Mid-Cap 400 and Small-Cap 600 rallied 2.5% while the Nasdaq gained 2.0%.

Real estate equities were leaders today following a strong slate of earnings results across the residential, healthcare, and retail sectors. Equity REITs gained 3.9% while Mortgage REITs rallied 5.6%. Sun Communities (SUI) - one of our three "Best Ideas in Real Estate" - soared nearly 10% today after reporting better-than-expected results and raising its full-year outlook. Sunbelt-focused NexPoint Residential (NXRT) rallied nearly 12% after reporting better-than-expected results, raising its full-year FFO growth outlook, hiking its dividend by 10.5%, and increasing the share repurchase authorization to $100M.

Income Builder Daily Recap U.S. equity markets advanced for a third-day Tuesday, lifted by solid corporate earnings results and a retreat in long-term interest rates driven by data showing the steepest one-month decline in home prices in over a decade. Pushing its rebound since the start of last week to over 7%, the S&P 500 advanced another 1.6% today. The Mid-Cap 400 and Small-Cap 600 rallied 2.5% while the tech-heavy Nasdaq 100 gained 2.0%.

Real estate equities were leaders today following a slate of strong slate of earnings results across the residential, healthcare, and retail sectors. The Equity REIT Index gained 3.9% today with all 18 property sectors in positive territory while the Mortgage REIT Index surged 5.6%. The 'Bad News is Good News' theme was on display today as weaker-than-expected economic data dragged the 10-Year Treasury Yield sharply lower, fueling a rebound across equity and bond markets while the U.S.

Dollar Index pulled back ...