Russia Incursion • $100 Oil • REIT Earnings

February 22, 2022 | Hoya Capital

Russia Incursion • $100 Oil • REIT Earnings Real Estate Daily Recap Feb 22 Written By U.S. equity markets finished broadly lower Tuesday as tensions on the Russia/Ukraine border amplified over the weekend, a dispute which threatens to prolong inflationary headwinds on global energy prices. Following a decline of 1.4% last week and dipping into "correction" territory with today's declines, the S&P 500 declined 1.1% today while the tech-heavy Nasdaq 100 declined 0.7%.

Real estate equities were among the outperformers today ahead of the busiest week of REIT earnings as the Equity REIT Index declined 0.5% today with 3-of-19 property sectors in positive-territory. Manufactured housing REIT Sun Communities (SUI) reported FFO growth of 27.9% - by far the best in the company's history - and sees FFO growth of 9.8% in 2022 at the midpoint of its initial guidance range. SUI also announced a 6.0% dividend increase to 3.52/share.

National Storage (NSA) reported impressive results with FFO growth of 32.2% in 2021 - significantly topping its prior guidance range and driven by a 20% increase in same-store NOI - and sees FFO growth of another 19.9% in 2022. 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 finished broadly lower Tuesday as tensions on the Russia/Ukraine border amplified over the weekend, a dispute which threatens to prolong inflationary headwinds on global energy prices.

Following a decline of 1.4% last week and dipping into "correction" territory with today's declines, the S&P 500 declined 1.1% today while the tech-heavy ...