Keepin' It Real  

Economics, Housing, & Commercial Real Estate Analysis

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  • Alex Pettee, CFA

Real Estate Daily Recap: REITs Higher, Homebuilders Lower As Rates Reman Near 14-Month Lows

The Hoya Capital US REIT Index finished the day higher by nearly 1%, led to the upside by the student housing, shopping center, and mall REIT sectors. All REIT sectors were higher by at least 0.5% on the day. The S&P 500 finished the day higher by 0.4% while the Nasdaq climbed 0.2%. At 2.39%, the 10-Year Yield finished the day higher by 2 basis points, but remains near the lowest level in more than a year.

The Homebuilding Products sector was the strongest performer on the day, led by Trex (TREX), Potlachdeltic (PCH), Weyerhaeuser (WY), Armstrong (AWI), and Louisiana-Pacific (LPX). The Residential REIT and Home Furnishings sector also finished the day up by 0.7%.

The Homebuilding and Real Estate Technology & Brokerage sectors were the weakest performing sectors, dragged to the downside by Realogy (RLGY), Lennar (LEN), Zillow (Z), Two Harbors (TWO), and DR Horton.

The busy week continues for housing data now that we’re finally back on schedule following the disruptions of the government shutdown. Starts and permits data for February were released on Tuesday, as was the Case Shiller and FHFA home price indexes. Pending home sales come were released today, while new home sales for February come out on tomorrow.

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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