Timber Merger • REIT Dividend Hike • Week Ahead

May 31, 2022 | Hoya Capital

Timber Merger • REIT Dividend Hike • Week Ahead Real Estate Daily Recap May 31 Written By U.S. equity markets slipped Tuesday following their best week since November 2020 as global interest rates rebounded today after China announced economic stimulus plans and began to ease COVID lockdowns. Giving back some of its 6.6% surge last week, the S&P 500 slipped 0.6% today - finishing the month of May with fractional gains - while the tech-heavy Nasdaq 100 declined 0.2%.

Real estate equities were mostly lower as well today with the Equity REIT Index declining 1.2% with 15-of-19 property sectors in negative territory while Mortgage REITs declined 0.3%. PotlaticDeltic (PCH) announced that it will acquire CatchMark Timber (CTT) - the smallest of four timber REITs - in a roughly $600 million all-stock deal. The combined company will own 2.2 million acres of timberlands. Lab space operator Alexandria Real Estate (ARE) hiked its quarterly dividend by 2.6%.

Alexandria - which has raised its dividend every year for more than a decade - becomes the 66th equity REIT to raise its dividend this year. 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 slipped Tuesday following their best week since November 2020 as global interest rates rebounded today after China announced economic stimulus plans and began to ease COVID lockdowns. Giving back some of its 6.6% surge last week, the S&P 500 slipped 0.6% today - finishing the month of May with fractional gains - while the tech-heavy Nasdaq 100 ...