Russia Oil Ban • REIT Dividend Hikes • Gas Price Records

March 8, 2022 | Hoya Capital

Russia Oil Ban • REIT Dividend Hikes • Gas Price Records Real Estate Daily Recap Mar 8 Written By U.S. equity markets finished lower Tuesday on another volatile session as investors considered the ramifications of soaring oil and gasoline prices on economic growth and fallout from the ongoing Russia/Ukraine conflict. Adding to declines of 2.9% yesterday and finishing at the lowest level since June 2021, the S&P 500 dipped another 0.7% today, but the Mid-Cap 400 and Small-Cap 600 each held on to modest gains.

Real estate equities were mixed today as investors rotated back into pro-cyclical sectors. The Equity REIT Index slipped 0.5% today with 11-of-19 property sectors in positive-territory while mortgage REITs rallied 1.9%. The wave of REIT dividend hikes continued today with another four REITs raising their payouts, bringing the full-year total up to 43: Equity Lifestyle, Great Ajax, Braemar Hotels, and CIM Commercial. Consumer gas prices in the U.S. climbed to fresh record-highs today at $4.17/gallon, eclipsing the previous record-high of $4.11 in 2008 as criticism has mounted on the administration over the lack of focus on increasing domestic production.

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U.S. equity markets finished lower Tuesday on another volatile session as investors considered the ramifications of soaring oil and gasoline prices on economic growth and geopolitical fallout from the ongoing Russia/Ukraine conflict. Adding to declines of 2.9% yesterday and finishing at the lowest level since June 2021, the S&P 500 dipped another 0.7% today, but the Mid-Cap ...