World On Edge • Stocks Rebound • Strong REIT Earnings

February 24, 2022 | Hoya Capital

World On Edge • Stocks Rebound • Strong REIT Earnings Real Estate Daily Recap Feb 24 Written By U.S. equity markets rebounded on a frenetic Thursday trading session after Russia launched a full-scale military invasion into Ukraine, triggering a new wave of economic sanctions imposed by Western nations. After opening the session with declines of nearly 2.5%, the S&P 500 recovered throughout the day, posting gains of 1.5% while the tech-heavy Nasdaq 100 rallied 3.4%, nearly 7-percentage-points above its lows.

Real estate equities also finished with broad-based gains today with the Equity REIT Index gaining 1.6% today with all 19 property sectors in positive territory while Mortgage REITs rallied 2.2%. Cell tower REIT American Tower (AMT) – the largest REIT by market cap – gained nearly 2% today after reporting solid results including full-year AFFO growth of 13.7% in 2021. Cannabis REIT Innovative Industrial (IIPR) rallied 3.4% after reporting another impressive quarter, recording full-year AFFO growth of 78% driven by investment volume of $714M.

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U.S. equity markets rebounded on a frenetic Thursday trading session after Russia launched a full-scale military invasion into Ukraine, triggering a new wave of sanctions and concerns over the potentially destabilizing fallout across Europe. After opening the session with intra-day declines of nearly 2.5%, the S&P 500 recovered throughout the day, posting gains of 1.5% while the tech-heavy Nasdaq 100 rallied 3.4%, nearly 7-percentage-points above its lows. Real estate equities also finished with broad-based gains today with ...