REITs Rally | Timber On Fire | Earnings Heat Up

July 27, 2020 | Hoya Capital

REITs Rally | Timber On Fire | Earnings Heat Up Uncategorized Jul 27 Written By Daily Recap U.S. equity markets finished higher Monday ahead of a frenetic slate of earnings results as positive vaccine news and clarity on the details of the stimulus package outweighed coronavirus concerns. Following a decline of 0.3% last week, the S&P 500 finished higher by 0.7% today while the Dow Jones Industrial Average climbed 115 points and the tech-heavy Nasdaq jumped 1.7%.

Following declines of 0.7% last week, the Equity REIT ETF finished higher by 1.0% today with 15 of 18 property sectors in positive territory ahead of a busy week of earnings. Homebuilders and the broader housing sector delivered another strong day as the steadfast strength of the U.S. housing market continues to provide a steady foundation for the global equity market rally. Four REITs reported results after the bell today.

Residential mREIT AGNC Mortgage reported an above-consensus 9.5% jump in tangible book value while data center REIT QTS Realty reported decent leasing results. To read the full report, click here to visit Seeking Alpha! Comments (0) Newest First Oldest First Newest First Most Liked Least Liked Add Comment --> Preview Edit --> Post Comment… Previous Previous Here Come The Millennials | REITs Lead Rally | Earnings Recap Next Next Weekly Outlook: Housing Is Red Hot