REITweek Updates • Target Warning • Senior Housing Deal

June 7, 2022 | Hoya Capital

REITweek Updates • Target Warning • Senior Housing Deal Real Estate Daily Recap Jun 7 Written By U.S. equity markets advanced while benchmark interest rates eased as investors parsed mixed signals on the state of consumer demand following another profit warning from Target on bloated inventory levels. Adding to Monday's gains of 0.3% and erasing its declines from last week, the S&P 500 advanced 1.9% today while the Mid-Cap 400 rose 1.3% and the Small-Cap 600 climbed 0.9%.

Real estate equities were among the stronger performers today following an upbeat slate of REITweek business updates. Led by gains from residential REITs, the Equity REIT Index gained 1.4% today. REITweek updates from residential REITs showed a continued acceleration in rent growth across most markets. Single-family rental REITs reported new lease growth of over 15% thus far in Q2. Welltower boosted its guidance, citing improving senior housing occupancy and "robust" pricing power.

Welltower also announced a major $502M acquisition of a 25-property senior apartment portfolio. Income Builder Daily Recap We recently launched Hoya Capital Income Builder - a premier income-focused investment research service through Seeking Alpha Marketplace - that will be the new exclusive home of all of Hoya Capital's investment research. Income Builder focuses on real income-producing asset classes that offer the opportunity for diversification, monthly income, capital appreciation, and inflation hedging.

If you're not already on board, give us a try with a completely risk-free two-week trial and take a look around. U.S. equity markets advanced while benchmark interest rates eased as investors parsed mixed signals on the state of consumer demand following another profit warning from Target. Adding to Monday's gains of 0.3% and erasing its declines from last week, the S&P 500 advanced 1.9% today while the Mid-Cap 400 rose 1.3% and the Small-Cap 600 climbed 0.9%.

Real estate equities were among the stronger performers today following an upbeat slate of REITweek business updates. Led by gains from ...