REITs Rally | Record Week | Vaccine Optimism

November 13, 2020 | Hoya Capital

REITs Rally | Record Week | Vaccine Optimism Daily Recap Nov 13 Written By U.S. equity markets rallied Friday to close at fresh record-highs as optimism about a forthcoming coronavirus vaccine overcame near-term worries over the "third-wave" of the pandemic and resulting economic lockdowns. Ending the week with gains of roughly 2%, the S&P 500 finished higher by 1.4% today while the Dow Jones Industrial Average rallied 399-points, ending the week higher by 4%.

Surging by more than 7% on the week and closing at the highest level since March 10th, Equity REITs (VNQ) jumped 2.8% today with all 18 property in positive territory. Shopping center and hotel REITs surged more than 30% this week while office and mall REITs rebounded more than 20% while two REITs more-than-doubled in value. We'll have a full analysis of this week's incredible price action in our Real Estate Weekly Recap published tomorrow morning.

Real Estate Daily Recap U.S. equity markets rallied Friday to close at fresh record-highs as optimism about a forthcoming coronavirus vaccine overcame near-term worries over the "third wave" of the pandemic and resulting economic lockdowns. Ending the week with gains of roughly 2%, the S&P 500 ETF ( SPY ) finished higher by 1.4% today while the Dow Jones Industrial Average ( DIA ) rallied 399 points, ending the week higher by more than 4%.

Surging by more than 7% on the week and closing at the highest level since March 10th, the broad-based Equity REIT ETF ( VNQ ) jumped 2.8% today with all 18 property sectors in positive territory while the Mortgage REIT ETF ( REM ) jumped 3.1% to end the week with gains of nearly 9%. All 11 GICS equity sectors finished in positive territory today, led by the Energy ( XLE ), Industrials ( XLI ), and Materials ( XLB) sectors while homebuilders and the broader Hoya Capital Housing Index were among the leaders as ...