Stocks Slide • S&P Rebalance • REIT Dividends

December 5, 2022 | Hoya Capital

Stocks Slide • S&P Rebalance • REIT Dividends Real Estate Daily Recap Dec 5 Written By U.S. equity markets were under-pressure Monday after solid economic data in the U.S. and reports that China plans to ease COVID lockdowns raised questions over the Fed's ability to pivot. After climbing to two-month highs last week with its fourth weekly-gain in seven weeks, the S&P 500 declined 1.8% today while the Mid-Cap 400 and Small-Cap 600 each slid by over 2.5%.

Real estate equities were broadly lower as well today with the Equity REIT Index declining 1.8% today with all 18 property sectors in negative territory while Mortgage REITs declined 2.5%. CubeSmart (CUBE) - which we own in the REIT Dividend Growth Portfolio - was among the leaders today after S&P announced that it will be added to the S&P MidCap 400 prior to the open on Monday, December 19th. Timber REIT Potlatch (PCH) and lab space operator Alexandria (ARE) raised their quarterly dividends - two of 120 REITs to raise their dividends this year.

Office REIT SL Green (SLG) reduced its payout - one of just three equity REITs to lower its dividends in 2022. Income Builder Daily Recap U.S. equity markets were under-pressure Monday after solid economic data in the U.S. and reports that China plans to ease some COVID lockdown measures raised questions over the Fed's ability to pivot from its aggressive pace of monetary tightening. After climbing to two-month highs last week with its fourth weekly gain in seven weeks, the S&P 500 declined 1.8% today while the Mid-Cap 400 and Small-Cap 600 each slid by over 2.5%.

The 10-Year Treasury Yield closed back above 3.60% today after sliding to its lowest levels since late September last week. Real estate equities were broadly lower as well today with the Equity REIT Index declining 1.8% today with all 18 property sectors in negative territory while the Mortgage REIT Index declined ...