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  • Alex Pettee, CFA

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.

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.