Stimulus Talks | Dividend Boost | Home Sales Surge

November 19, 2020 | Hoya Capital

Stimulus Talks | Dividend Boost | Home Sales Surge Daily Recap Nov 19 Written By U.S. equity markets finished higher Thursday as strong housing market data, potential progress on stimulus talks, and optimism about forthcoming vaccines offset the continued concerns over coronavirus-induced economic shutdowns. Now roughly flat on the week, the S&P 500 finished higher by 0.4% today while the Dow Jones Industrial Average gained 45 points and the tech-heavy Nasdaq 100 gained 0.8%.

Real estate equities were mostly-higher on the day but remain modestly lower on the week. Equity REIT ETFs finished higher by 0.4% with 9 of 18 sectors in postive territory. The seemingly endless wave of strong housing market data continued today with Existing Home Sales climbing to 14-year highs. Record-low supply and strong demand pushed the median home price higher by 16% from last year. After the close today, shopping center REIT Kimco Realty (KIM) boosted its dividend to $0.16 per share, up 60% from last quarter, but still roughly half of its pre-pandemic rate.

KIM is one of 66 equity REITs that reduced or suspended its dividend this year. Real Estate Daily Recap U.S. equity markets finished higher Thursday as strong housing market data, potential progress on stimulus talks, and optimism about forthcoming vaccines offset the continued concerns over coronavirus-induced economic shutdowns. Now roughly flat on the week, the S&P 500 ETF ( SPY ) finished higher by 0.4% today while the Dow Jones Industrial Average ( DIA ) gained 45 points and the tech-heavy Nasdaq 100 ( QQQ ) gained 0.8%.

Real estate equities were mixed on the day but remain modestly lower on the week as the broad-based Equity REIT ETF ( VNQ ) finished higher by 0.4% with 9 of the 18 property sectors in positive territory. The Mortgage REIT ETF ( REM ) finished lower by 0.3%, but remains higher by 3.5% this week. A reverse of the intra-day price action ...