125 REIT Dividend Hikes
U.S. equity markets rebounded from a two-week skid as several significant market concerns - a potential economic slowdown from the Omicron variant and the debt-ceiling standoff - now appear likely to be avoided.
Posting its best week of gains since early February and closing at fresh record-highs, the S&P 500 advanced 3.8% on the week, while Mid-Caps gained 3.0% and Small-Caps climbed 2.7%.
Real estate equities were broadly higher amid an ongoing wave of REIT dividend increases, M&A developments, and data showing soaring rent growth. The Equity REIT Index rallied 2.8% on the week.
Homebuilders and residential REITs continued to lead the way following strong earnings results from Toll Brothers and as housing and rent data continue to show an acceleration across the broader housing industry.
Four REITs hiked their dividends this week, bringing the full-year total to a record-setting 125 REIT dividend increases, while an additional three REITs declared special dividends.