Turbulent Week | Dividend Hikes | Pre-Election Jitters

October 30, 2020 | Hoya Capital

Turbulent Week | Dividend Hikes | Pre-Election Jitters Daily Recap Oct 30 Written By U.S. equity markets finished sharply lower on Friday, closing out the worst week for stocks since March, as pre-election jitters and coronavirus concerns overwhelmed a strong slate of economic data. Dipping more than 5% this week, the S&P 500 finished lower by 1.0% this week while the Nasdaq 100 dipped by 2.5% and the Dow Jones Industrial Average declined 158-points.

Real estate equities actually outperformed today and on the week as the broad-based Equity REIT ETF (VNQ) finished lower by 0.6% today with 4 of 18 property sectors in positive-territory. Today's sell-off came despite better-than-expected economic data this morning with Personal Income, Personal Spending, Consumer Sentiment, and PMI data all topping estimates. Postal Realty (PSTL) became the 37th equity REIT to raise its dividend this year. At the half-way point of REIT earnings season, results have been better-than-expected with 6 additional dividend hikes.

Real Estate Daily Recap U.S. equity markets finished sharply lower on Friday, closing out the worst week for stocks since March, as pre-election jitters and coronavirus concerns overwhelmed a generally strong slate of economic data. Dipping more than 5% this week, the S&P 500 ETF ( SPY ) finished lower by 1.0% this week while the tech-heavy Nasdaq 100 ( QQQ ) dipped by 2.5% and the Dow Jones Industrial Average ( DIA ) declined by 158 points.

Real estate equities actually outperformed today and on the week as the broad-based Equity REIT ETF ( VNQ ) finished lower by 0.6% today with 4 of 18 property sectors in positive territory. The Mortgage REIT ETF ( REM ) declined by 0.9%. A cascading wave of economic lockdowns across Europe has rattled global equity markets while narrowing poll numbers in the U.S. - and increased likelihood of a divided government - may compromise the prospects of a renewed fiscal stimulus package. 9 of the ...