Special REIT Dividends • Rebound Rally • Farewell Prison REITs

December 2, 2021 | Hoya Capital

Special REIT Dividends • Rebound Rally • Farewell Prison REITs Daily Recap Dec 2 Written By Summary U.S. equity markets rebounded Thursday following a two-day skid on another volatile session as investors evaluate the economic impact of the Omicron variant and the looming debt ceiling deadline. Bouncing back from its worst two-day skid since October 2020, the S&P 500 rallied 1.4% today while the Mid-Cap 400 surged 2.9% and the Small-Cap 600 gained 2.8%.

Real estate equities posted strong gains as well as the Equity REIT Index rallied 3.0% today with 18-of-19 property sectors in positive territory. Mortgage REITs gained 3.0% and Homebuilders soared 5%. Two REITs declared special dividends - SL Green and PS Business Parks - and three REITs hiked their regular dividends over the past 24 hours - Eastgroup Properties, Universal Health REIT, and SL Green. Good riddance and farewell to the prison REIT sector.

GEO Group (GEO) dipped more than 6% today after announcing that it is no longer a REIT, deciding instead to become a taxable C-corporation, effective in this current year. 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 rebounded Thursday following a two-day skid on another volatile session as investors evaluate the economic impact of the Omicron variant and look for signs of progress in the debt ceiling showdown. Bouncing back from its worst two-day skid since October 2020, the S&P 500 rallied 1.4% today while the Mid-Cap 400 surged 2.9% and the Small-Cap 600 gained 2.8%.

Real estate ...