Real Estate Daily Recap: REITs and Homebuilders Finish The Week Higher Despite Modest Declines on Fr
The Hoya Capital US REIT Index finished the day lower by 0.4%, led to the upside by the cell tower, single family rental, and data center REIT sectors, but dragged down by the student housing, healthcare, and hotel REIT sectors. The S&P 500 finished the day higher by 0.6% while the Nasdaq climbed 0.8%. At 2.41%, the 10-Year Yield finished the day higher by 3 basis points, but remains near the lowest level in more than a year.
For the week, the REIT sector climbed 0.8%, led by 2% gains in the retail REIT sectors. The Hoya Capital US Housing Index climbed by 1.5%, led by the Homebuilding Products and Home Improvement Retail sectors.
For the day, the top performers in the housing sector were Eagle Materials (EGP), Simpson Manufacturing (SSD), Overstock (OSTK), Armstrong (AWI), and American Woodmark (AWMD).
Restoration Hardware (RH) was the weakest performer on the day following disappointing guidance. TRI Pointe (TPH), Trex (TREX), KB Home (KBH), and Taylor Morrison (TMHC) were each down by at least 2% each on the day.
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