Stocks Rebound • Solid Jobs Data • REIT Earnings

March 2, 2022 | Hoya Capital

Stocks Rebound • Solid Jobs Data • REIT Earnings Real Estate Daily Recap Mar 2 Written By U.S. equity markets rebounded Wednesday as investors monitored developments on the Russian invasion of Ukraine and parsed comments from Fed Chair Powell which indicated a more cautious approach to rate hikes. Erasing its weekly declines and closing near session-highs, the S&P 500 advanced 1.8% today while the Mid-Cap 400 and Small-Cap 600 each rallied nearly 3%.

Real estate equities were among the outperformers for the second-straight day as the Equity REIT Index rallied 2.2% with all 19 property sectors in positive territory while Mortgage REITs gained 2.0%. The busy slate of employment data this week kicked off with a solid report from ADP, which showed job growth of 475k in February as most indications point to continued resilience across the U.S. labor market. Shopping Center REIT Whitestone REIT (WSR) rallied nearly 5% today after reporting strong earnings results highlighted by impressive leasing spreads of nearly 15% and a sector-leading 310 basis point increase in occupancy rate over last year.

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U.S. equity markets rebounded Wednesday as investors monitored developments on the Russian invasion of Ukraine and parsed comments from Fed Chair Powell which indicated a more cautious approach to rate hikes. Erasing its weekly declines and closing near session-highs, the S&P 500 advanced 1.8% today while the Mid-Cap 400 and Small-Cap 600 each rallied nearly 3%. Elsewhere, oil prices soared another 9% today to close ...