Stocks Slide • Yields Retreat • Strong REIT Earnings

April 26, 2022 | Hoya Capital

Stocks Slide • Yields Retreat • Strong REIT Earnings Real Estate Daily Recap Apr 26 Written By U.S. equity markets slid Tuesday amid renewed COVID concerns in China and a mixed slate of corporate earnings results, sending yields lower and sparking a bid for safe-haven domestic asset classes. Retreating from gains of 0.6% on Monday, the S&P 500 declined by 2.9% today while the tech-heavy Nasdaq 100 dipped back into "bear market" territory.

REITs were among the outperformers. NexPoint Residential (NXRT) - which we own in the Hoya Capital Housing Index - jumped 4% after reporting very strong results, highlighted by incredible 24.3% rent growth on new leases. PotlatchDeltic (PCH) was also among the leaders today after reporting strong Q1 results, highlighted by a substantial boost in adjusted EBITDDA, driven by large increases in timberlands and wood products revenues amid higher commodity prices.

DR Horton (DHI) reported strong Q1 results and raised its full-year sales outlook, which now calls for 28% revenue growth this year. DHI commented, “Housing market conditions remain strong despite the rise in mortgage rates, as we continue to experience homebuyer demand that exceeds our pace of supply." 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 slid Tuesday amid renewed COVID concerns in China and a mixed slate of corporate earnings results, sending yields lower and sparking a bid for safe-haven domestic asset classes.

Retreating from gains of 0.6% on Monday, the S&P 500 declined by 2.9% today while the tech-heavy Nasdaq 100 ...