Retail Rebound • REIT Earnings • Dividend Hikes

February 15, 2023 | Hoya Capital

Retail Rebound • REIT Earnings • Dividend Hikes Real Estate Daily Recap Feb 15 Written By U.S. equity markets finished mostly-higher Wednesday in another choppy session after strong retail sales and housing market data prompted investors to reevaluate inflation expectations and recession odds. Lifting its week-to-date gains to over 1.5%, the S&P 500 finished higher by 0.3% today. The 10-Year Treasury Yield crept higher again today to 3.81% - the highest since early January.

Real estate equities were among the leaders today following a strong slate of earnings results and a handful of dividend hikes. The Equity REIT and Mortgage REIT Index each advanced 0.4%. U.S. retail sales increased by the most in nearly two years in January - rebounding after a relatively soft holiday season - as unseasonably warm weather and improving consumer sentiment lifted spending in several key discretionary categories. Net lease REIT Realty Income (O) and strip center REIT InvenTrust (IVT) each hiked their dividends while commercial mortgage REIT Ares Commercial (ACRE) declared a supplemental dividend.

Residential mREIT Armour Residential (ARR), however, trimmed its payout by 20%. Income Builder Daily Recap U.S. equity markets finished mostly-higher Wednesday in another choppy session after strong retail sales and housing market data prompted investors to reevaluate inflation expectations and recession odds. Lifting its week-to-date gains to over 1.5%, the S&P 500 finished higher by 0.3% today while the tech-heavy Nasdaq 100 advanced 0.8%. The 10-Year Treasury Yield crept higher again today to 3.81% - up another 5 basis points to the highest levels since January.

Real estate equities were among the leaders today following a strong slate of earnings results and a handful of dividend hikes. The Equity REIT Index gained 0.4% today with 16-of-18 property sectors in positive territory while the Mortgage REIT Index gained 0.4%. U.S. retail sales increased by the most in nearly two years in January - rebounding after a relatively soft holiday season - as ...