Keepin' It Real 

Economics, Housing, & Commercial Real Estate Analysis

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  • Alex Pettee, CFA

Real Estate Daily Recap: Down Day for Real Estate, But REITs and Homebuilders Remain Among The Top-P

The Hoya Capital US REIT Index declined 0.4% on the day, led to the upside by the cell tower REIT sector but dragged down by single famiy rental, industrial, and hotel REIT sectors. The S&P 500 finished roughly flat on the day while the Nasdaq climbed by 0.3%. At 2.61%, the 10-Year Yield climbed 1 basis point on the day.

REITs and companies within the broader commercial and residential real estate industry remain among the top-performers so far in 2019. The Hoya Capital US REIT Index is higher by nearly 14% on the year while the Hoya Capital US Housing Index has climbed by a similar amount as receding interest rates and signs of life in the single family housing market have reignited the real estate sector following their worst year in more than a decade.

On the day, Home Improvement Retail was the lone US Housing Index sector to finish the day on the upside. Redfin (RDFN), Armstrong (AWI) and Lowe's (LOW) were among the top-performers. For the year, the Home Furnishings sector remains the top-performer, climbing by more than 25%.

Homebuilders were the weakest-performing industry sector on the day, led to the downside by Taylor Morrison (TMHC), Tri Pointe (TPH), and Trex (TREX). Despite today's weakness, the Homebuilding sector remain higher by more than 10% on the year while Homebuilding Products has climbed by more than 16%.

Disclosure: An investor cannot invest directly in an index and index performance does not reflect the deduction of any fees, expenses or taxes. The information presented does not reflect the performance of any fund or other account managed or serviced by Hoya Capital Real Estate. We consider the information in this presentation to be accurate, but we do not represent that it is complete. It should not be relied upon as the sole source of suitability for investment. Please consult with your investment, tax or legal adviser regarding your individual circumstances before investing. Visit our website for a complete definition of all indexes cited in this report. Investing involves risk and loss of principal is possible.

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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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