Rent Collection Updates • Crypto Mania • Tensions Ease

January 7, 2021 | Hoya Capital

Rent Collection Updates • Crypto Mania • Tensions Ease Daily Recap Jan 7 Written By Summary U.S. equity markets finished broadly-higher Thursday as the partisan tensions eased and as investors begin to price-in the anticipated effects of the "trifecta" of political control for Democrats for economic policy. Now higher by 1.6% for the week, the S&P 500 finished higher by 1.5% today while the Dow Jones Industrial Average gained 212-points.

Small- and Mid-Caps added to their robust weekly gains. Real estate equities have gotten off to a slow start in 2020, underperforming for the fourth-straight day as the Equity REIT ETF declined by 0.2% with 10-of-19 property sectors in negative-territory. With additional stimulus high on the docket for the incoming administration, all eyes are on inflation expectations, the Fed, and Treasury Yields. Meanwhile, Bitcoin surged another 19.3% to fresh highs at nearly $40,000.

We heard business updates from a handful of net lease REITs over the last 24 hours including GNL, EPR, and AFIN. While rent collection has almost fully "normalized" for most REITs, movie theater owner EPR collected less than 50% of rent in Q4. Real Estate Daily Recap U.S. equity markets finished broadly higher Thursday as the partisan tensions eased and as investors begin to price-in the anticipated effects of the "trifecta" of political control for Democrats for fiscal policy.

Now higher by 1.6% for the week, the S&P 500 ETF ( SPY ) finished higher by 1.5% today while the Dow Jones Industrial Average ( DIA ) gained 212 points. Real estate equities have gotten off to a slow start in 2020, underperforming for the fourth-straight day as the broad-based Equity REIT ETF ( VNQ ) declined by 0.2% with 10 of 19 property sectors in negative territory. The Mortgage REIT ETF ( REM ) gained 0.1% today but remains lower by 0.7% on the week.

With additional stimulus likely high on the political docket for the ...