Relief Rally • Fixer-Upper • Mall Earnings

May 17, 2022 | Hoya Capital

Relief Rally • Fixer-Upper • Mall Earnings Real Estate Daily Recap May 17 Written By U.S. equity markets rebounded Tuesday as solid retail sales data and somewhat dovish Fed comments sparked a bid for beaten-down equity sectors, but also resumed the downward pressure on fixed-income securities. Following declines of 0.4% yesterday and seeking to snap a six-week streak of declines, the S&P 500 gained 2.0% today while the Mid-Cap 400 and Small-Cap 600 each rallied nearly 3%.

Real estate equities were mostly-higher today led by retail and hotel REITs as the Equity REIT Index advanced 1.4% with 16-of-19 property sectors in positive territory while Mortgage REITs gained 1.0%. Fixer Upper: Home Depot (HD) rallied nearly 2% after the home-improvement retailer reported better-than-expected Q1 results highlighted by strong comparable sales growth of 2.2% as home improvement spending remains an area of strength despite the cooldown in home sales.

Mall REIT CBL Properties (CBL) - which emerged from bankruptcy last November - rallied 10% after reporting decent Q1 results, recording a 290 basis point increase in portfolio occupancy which helped to drive a 10.7% year-over-year increase in same-center NOI. 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 rebounded Tuesday as solid retail sales data and somewhat dovish Fed comments sparked a bid for beaten-down equity sectors, but also resumed the downward pressure on fixed income securities.

Following declines of 0.4% yesterday and seeking to snap a six-week streak of declines, the S&P 500 gained 2.0% today while the ...