REITs Throw Forever 21 A Lifeline [Daily Recap]

February 3, 2020 | Hoya Capital

REITs Throw Forever 21 A Lifeline [Daily Recap] Uncategorized Feb 3 Written By After dipping more than 2% last week, U.S. equity markets recovered on Monday as investor attention remains focused on the status of the coronavirus outbreak. The S&P 500 finished higher by 0.7% while the Dow Jones Industrial Average added 140 points. The 10-Year Treasury Yield held steady at 1.52%. The broad-based commercial Real Estate ETF (VNQ) underperformed a bit today, finishing higher by 0.3%, led by the prison, billboard, and data center REIT sectors as earnings season hits high-gear.

Bankrupt mall-based retailer Forever 21 will be purchased by a consortium that includes mall REITs Simon Property (SPG) and Brookfield Properties (BPR) in a fairly unprecedented move for these landlords. Construction Spending data missed estimates, but still recorded 5.0% year-over-year growth, which was the strongest rate of growth since September 2018, led by a recovery in residential spending. To continue reading, 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 Mall REIT Mergers? [Daily Recap] Next Next Real Estate CEFs: Satisfying A High-Yield Fix