Retail Rebound • Mortgage Rates Moderate • REIT Dividend Hikes

May 26, 2022 | Hoya Capital

Retail Rebound • Mortgage Rates Moderate • REIT Dividend Hikes Real Estate Daily Recap May 26 Written By U.S. equity markets advanced for the second-straight day as moderating interest rates and several upbeat earnings reports from retail and homebuilders helped to brighten the gloomy investor sentiment. On pace to finally snap a seven-week skid, the S&P 500 advanced 2.1% today - pushing its week-to-date gains to over 4% - while the tech-heavy Nasdaq 100 rallied nearly 3%.

Real estate equities were mostly higher on another strong day from retail and technology REITs. The Equity REIT Index gained 0.1% today with 13-of-19 property sectors in positive territory. National Storage Affiliates (NSA) gained nearly 3% after it raised its quarterly dividend for the second time this year. Mall REIT CBL Properties (CBL) jumped nearly 4% after announcing a debt refinancing deal. Homebuilders - which remain lower by 30-40% this year and now trade at single-digit P/E multiples - led the gains today as mortgage rates pulled back to 5.10% this week - down from a peak of 5.30% earlier this month.

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U.S. equity markets advanced for the second-straight day as moderating interest rates and several upbeat earnings reports from retail and homebuilders helped to brighten the gloomy investor sentiment. On pace to finally snap a seven-week skid, the S&P 500 advanced 2.1% today - pushing its week-to-date gains to over 4% - while the tech-heavy Nasdaq 100 rallied nearly 3%. Real estate equities ...