Tech Wreck • What's UPREIT? • More Special Dividends

December 3, 2021 | Hoya Capital

Tech Wreck • What's UPREIT? • More Special Dividends Daily Recap Dec 3 Written By Summary U.S. equity markets declined Friday on another volatile session, pushing the major averages lower by between 1-3% on the week as technology stocks slumped while interest rates retreated sharply. Ending a choppy week with cumulative declines of 1.2%, the S&P 500 declined 0.9% today while the Mid-Cap 400 slipped 1.4% and Small-Caps fell 1.3%.

The tech-heavy Nasdaq 100 dipped nearly 2%. Real estate equities were relative outperformers today and on the week. The Equity REIT Index was lower by 0.3% today with 6-of-19 property sectors in positive territory. Mortgage REITs slipped 0.9%. Federal Realty (FRT) announced that it will reorganize into an umbrella partnership real estate investment trust, or UPREIT. In short, the UPREIT structure allows the REIT to offer stock in exchange for properties, offering sellers tax deferral benefits.

Becoming the third REIT to declare a special dividend this week, Franklin Street Properties (FSP) declared a $0.32/share special dividend. Earlier this week, SL Green (SLG) and PS Business Parks (PSB) declared special distributions. 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 declined Friday on another volatile session, pushing the major averages lower by between 1-3% on the week as the previously high-flying technology stocks slumped while interest rates retreated sharply.

Ending a choppy week with cumulative declines of 1.2%, the S&P 500 declined 0.9% today while the Mid-Cap 400 slipped 1.4% and the Small-Cap 600 fell 1.3%. The tech-heavy ...