Yields Tumble • REIT Dividend Hikes • Oil Prices Soar

February 27, 2022 | Hoya Capital

Yields Tumble • REIT Dividend Hikes • Oil Prices Soar Real Estate Daily Recap Mar 1 Written By U.S. equity markets dipped Tuesday as Russian forces closed in on major Ukrainian cities, sending oil prices surging and sparking a bid for domestic safe-haven assets, notably long-term U.S. Treasuries. Following declines of 0.3% on Monday and finishing near session-lows, the S&P 500 finished lower by 1.5% today while the Mid-Cap 400 and Small-Cap 600 each dipped 1.9%.

Real estate equities were among the outperformers today as Treasury yields plunged. The Equity REIT Index finished lower by 0.5% with 17-of-19 property sectors in negative territorywhile mortgage REITs declined 1.0%. Cell Tower REIT SBA Communications (SBAC) soared more than 4% after reporting very strong results and raising its dividend by 22%. SBAC recorded full-year AFFO growth of 13.9% in 2021 and sees growth of another 8.6% in 2022. Seritage Growth (SRG) - which emerged from the Sears bankruptcy and now owns 170 properties in primarily Class B and C mall locations - rallied nearly 8% today after confirming a Bloomberg report that it is indeed pursing a potential sale of the company.

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U.S. equity markets dipped Tuesday as Russian forces closed in on major Ukrainian cities, sending oil prices surging and sparking a bid for domestic safe-haven assets, sending Treasury Yields tumbling. Following declines of 0.3% on Monday and finishing near session-lows, the S&P 500 finished lower by 1.5% today while the Mid-Cap 400 ...