Tech Correction • Prologis Earnings • Strong Housing Data

January 19, 2022 | Hoya Capital

Tech Correction • Prologis Earnings • Strong Housing Data Real Estate Daily Recap Jan 19 Written By Summary U.S. equity markets remained under pressure Wednesday - sending the tech-heavy Nasdaq into "correction territory" - as investors continue to sell-off longer duration assets amid intensifying stagflation concerns. Adding to declines of 1.8% yesterday, the S&P 500 slipped another 1.0% today while the tech-heavy Nasdaq 100 fell by 1.1%. Mid-Caps declined 1.3% while Small-Caps slipped 1.4%.

Real estate equities were broadly lower as well today with the Equity REIT Index declining by 1.3% with all 19 property sectors in negative territory while Mortgage REITs declined 1.4%. Housing Starts and Permits data today showed that U.S. homebuilding activity accelerated to nine-month highs in December despite ongoing supply chain constraints. Prologis (PLD) was among the leaders today after kicking off 4Q REIT earnings season with another strong beat-and-raise report.

PLD delivered Core FFO growth of 9.2% in full-year 2021 and its initial guidance calls for 8.4% growth in 2022. 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 remained under pressure Wednesday - sending the tech-heavy Nasdaq into "correction territory" - as investors continue to sell off longer duration assets amid intensifying stagflation concerns. Adding to declines of 1.8% yesterday, the S&P 500 slipped another 1.0% today while the tech-heavy Nasdaq 100 declined 1.1%.

The Mid-Cap 400 declined 1.3% while the Small-Cap 600 finished lower by 1.4%. Real estate equities were broadly lower as well today with the Equity REIT Index ...