REITs Rebound | Malls Go Bust | Decision Time

November 2, 2020 | Hoya Capital

REITs Rebound | Malls Go Bust | Decision Time Daily Recap Nov 2 Written By Ahead of Election Day tomorrow, U.S. equity markets bounced back Monday as better-than-expected economic data and tightening poll numbers offset concerns over the cascading wave of lockdowns sweeping across Europe. After dipping more than 5% last week, the S&P 500 finished higher by 1.2% today and the Dow Jones Industrial Average jumped by 423 points despite weakness from large-cap technology firms.

Real estate equities were among the leaders today ahead of another busy week of earnings. The broad-based Equity REIT ETFs finished higher by 2.3% with all property sectors in positive-territory. Troubled mall REITs Pennsylvania REIT (PEI) and CBL & Associates (CBL) each filed for Chapter 11 bankruptcy protection over the weekend. Having entered the pandemic already in an already precarious financial situation, the pandemic has finally pushed these REITs off the edge.

It'll be another busy afternoon of REIT Earnings, headlined by Realty Income (O), Healthpeak (PEAK), and SBA Communications (SBAC). We'll update this report throughout the afternoon with real-time commentary. Real Estate Daily Recap Ahead of Election Day tomorrow, U.S. equity markets bounced back Monday as better-than-expected economic data and tightening poll numbers in the U.S. offset concerns over the cascading wave of lockdowns sweeping across Europe. After dipping more than 5% last week, the S&P 500 ETF ( SPY ) finished higher by 1.2% today and the Dow Jones Industrial Average ( DIA ) jumped by nearly 400 points despite continued weakness from large-cap technology firms.

Real estate equities were among the leaders today ahead of another busy week of earnings as the broad-based Equity REIT ETF ( VNQ ) finished higher by 2.3% today with all property sectors in positive territory while the Mortgage REIT ETF ( REM ) finished higher by 2.3%. Heading into Election Day, polling averages in key battleground states have continued to tighten over the past week ...