Keepin' It Real 

Economics, Housing, & Commercial Real Estate Analysis

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  • Alex Pettee, CFA

Real Estate Daily Recap: REITs Rally 0.9%, Homebuilders Climb 1.1%

Bouncing back from the modest decline yesterday, the REIT ETFs (VNQ and IYR) rallied 0.9%, continuing a stretch of strong performance so far in 2019. Shopping center, office, industrial, and net lease REITs led the way as the 10-Year yield dipped another 5 basis points to close near one-year lows. The S&P 500 dipped 1.0% while the Nasdaq dipped 1.3%

Homebuilders (XHB and ITB), Mortgage Lenders and Residential REITs were the strongest performing sectors of the Hoya Capital Housing Index on the day. The big news of the day was the merger announcement between SunTrust Bank (STI) and fellow Housing 100 Index component BB&T (BBT). Masco (MAS), NVR (NVR), and KB Homes (KBH) each gained more than 2.5% on the day.

Home Furnishings was the weakest performing housing industry sector on the day, dragged down by Restoration Hardware (RH) and Overstock (OSTK) which each fell more than 3.5% on the day. Wayfair (W) and Tempur Sealy (TPX) were also down more than 1.5% on the day.

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Hoya Capital Real Estate ("Hoya Capital") is an SEC-registered investment advisory firm that provides investment management services to ETFs, individuals, and institutions, focusing on portfolio and index management of publicly traded securities in the real estate industry. It is not possible to invest directly in an index. Index performance cited in this website or commentary does not reflect the performance of any fund or other account managed or serviced by Hoya Capital Real Estate. Nothing on this site nor any published commentary by Hoya Capital is intended to be investment, tax, or legal advice or an offer to buy or sell securities. Information presented is believed to be factual and up-to-date, but we do not guarantee its accuracy and should not be considered a complete discussion of all factors and risks. Data quoted represents past performance, which is no guarantee of future results. Investing involves risk. Loss of principal is possible. Investments in companies involved in the real estate and housing industries involve unique risks, as do investments in ETFs, mutual funds, and other securities. Hoya Capital has no business relationship with any company discussed/mentioned. Hoya Capital never receives compensation from any company discussed/mentioned. Hoya Capital, its affiliate, and/or its clients and/or its employees may hold positions in securities or funds discussed on this website and our published commentary. A complete list of holdings and other important disclosures and definitions are available by clicking the links below.

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