Roaring REITs [Daily Recap]

February 14, 2020 | Hoya Capital

Roaring REITs [Daily Recap] Uncategorized Feb 14 Written By U.S. equity markets closed a strong week with modest gains on Friday as the major averages hovered near record-highs ahead of a long President's Day weekend. The S&P 500 finished higher by 0.2% on the day, ending the week with gains of more than 1.5%. The 10-Year Treasury Yield declined by 3 basis points, closing at 1.59%. The broad-based commercial Real Estate ETF (VNQ) completed one of it's best weeks of the past decade, gaining another 1.0% on the day, led by data center, storage, healthcare REITs.

REITs ended the week with gains of more than 4% on a frenetic week of earnings and M&A news. Digital Realty led today's gains after reporting strong leading demand yesterday afternoon. Stay tuned for full coverage of this week's economic data in our Real Estate Weekly Outlook report published tomorrow morning. Real Estate Daily Recap U.S. equity markets closed a strong week with modest gains on Friday as the major averages hovered near record-highs ahead of a long President's Day weekend.

The S&P 500 ETF ( SPY ) finished higher by 0.2% on the day, ending the week with gains of more than 1.5%. The 10-Year Treasury Yield ( IEF ) declined by 3 basis points to end at 1.59% after a luke-warm retail sales report this morning. The broad-based commercial Real Estate ETF ( VNQ ) completed one of it's best weeks of the past decade, gaining another 1.0% on the day, ending the week with gains of more than 4% on frenetic week of earnings and M&A news.

Residential REITs were among the leaders today, powering the 0.5% gains today from the Hoya Capital Housing Index , the benchmark that tracks the performance of the US Housing Industry. Residential flooring supplier Mohawk ( MHK ) gained nearly 4% after reporting better-than-expected results yesterday afternoon, citing "positive trends in housing that should be ...