Special Dividends • Vaccinations Begin • Stimulus Stalemate

December 14, 2020 | Hoya Capital

Special Dividends • Vaccinations Begin • Stimulus Stalemate Daily Recap Dec 14 Written By Summary U.S. equity markets finished mixed Monday as an ongoing stalemate in fiscal stimulus negotiations and additional shutdowns in NYC offset optimism from the first coronavirus vaccination in the United States. Coming off a decline of 1.0% last week, the S&P 500 finished lower by 0.44% today while the Dow Jones Industrial Average slipped 185 points.

The tech-heavy Nasdaq gained 0.50%. Real estate equities were mixed on the day as the broad-based Equity REIT ETF declined by 0.4% today with 11 of the 18 property sectors in negative territory. The next several weeks of "REIT Dividend Declaration Season" should be especially interesting as REITs that had previously suspended or reduced dividends amid the pandemic seek to meet their distribution requirements to qualify as a REIT. This morning, shopping center REIT Urban Edge (UE), which had previously suspended its dividend back in April, declared a $0.46/share special dividend and also announced its intention to reinstate its quarterly dividend at $0.15/share beginning in March 2021.

Real Estate Daily Recap U.S. equity markets finished mixed Monday as an ongoing stalemate in fiscal stimulus negotiations and additional shutdowns in NYC offset optimism from the first coronavirus vaccination in the United States. Coming off a decline of 1.0% last week, the S&P 500 ETF ( SPY ) finished lower by 0.5% today while the Dow Jones Industrial Average ( DIA ) slipped 185 points. The tech-heavy Nasdaq 100 ( QQQ ) gained 0.7%.

Real estate equities were mixed on the day as the broad-based Equity REIT ETF ( VNQ ) declined by 0.4% today with 11 of the 18 property sectors in negative territory. The Mortgage REIT ETF ( REM ), however, gained 0.3% on the day. As discussed in our Real Estate Weekly Outlook , the battle against COVID-19 is potentially at a key turning point as vaccinations of Pfizer's ...