Swiss Bailout • Fed Ahead • REIT Dividend Hikes

March 20, 2023 | Hoya Capital

Swiss Bailout • Fed Ahead • REIT Dividend Hikes Real Estate Daily Recap Mar 20 Written By U.S. equity markets rebounded Monday in another volatile session after Swiss regulators engineered a rescue of Credit Suisse by rival UBS, the latest in a series of major bank collapses. Continuing its "seesaw" pattern of daily moves for a seventh session, the S&P 500 gained 0.9% today. The Mid-Cap 400 and Small-Cap 600 gained over 1% following declines of 3% last week.

Real estate equities also finished broadly-higher today as investors weighed potential tailwinds from lower interest rates against increased credit concerns across several property sectors. Over the weekend, the Federal Reserve and five other major global central banks announced fresh measures to inject liquidity into US dollar swap arrangements, the latest in a series of emergency policy actions in recent weeks to ease growing strains in the global financial system. Another day, another handful of REIT dividend hikes.

Micro-cap Presidio Property (SQFT) rallied 2% after it boosted its quarterly dividend by 5% to $0.022/share, representing a forward dividend yield of 8.46%. After the close today, CareTrust REIT (CTRE) hiked its quarterly dividend by 2% to $0.28/share, representing a forward yield of 5.9%. Income Builder Daily Recap U.S. equity markets rebounded Monday in another volatile session after Swiss regulators engineered a rescue of Credit Suisse by rival UBS, the latest in a series of major bank collapses.

Continuing its "seesaw" pattern of daily moves to a seventh session, the S&P 500 gained 0.9% today following sharp declines last Friday. The Mid-Cap 400 and Small-Cap 600 gained over 1% following declines of 3% last week. The tech-heavy Nasdaq 100 advanced 0.4% today after soaring nearly 6% last week. Real estate equities also finished broadly higher today as investors weighed potential tailwinds from lower interest rates against increased credit concerns across several property sectors.

The Equity REIT Index advanced 1.1% today with 17-of-18 property sectors ...