Keepin' It Real 

Economics, Housing, & Commercial Real Estate Analysis

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  • Alex Pettee, CFA

Real Estate Daily Recap: REITs Climb Again, Housing Index Reaches New Record High Led By Real Estate

The Hoya Capital US REIT Index finished the day higher by 0.7%, led to the upside by the data center, cell tower, and student housing REIT sectors. The net lease, mall, and shopping center sectors were the relative underperformers on the day. The S&P 500 finished the day flat while the Nasdaq climbed 0.4%. At 2.48%, the 10-Year Yield finished the day lower by 2 basis points and remains nearly 80 basis points lower than it's peak last October.

Todays gains pushed the YTD gains for the Hoya Capital US REIT Index up to 17% while the Hoya Capital US Housing Index reached a new record high, climbing by 16% so far in 2019.

The Real Estate Technology & Brokerage sector was again the strongest performing industry sector in the Hoya Capital US Housing Index on the day, led by Redfin (RDFN), Zillow (Z), and RealPage (RP). The Residential REIT sector also climbed by nearly 1%, led by Park Hotels (PK), Aimco (AIV), and Essex (ESS).

After a strong day yesterday, the Real Estate Insurance and Home Furnishings sectors was the relative laggards on the day, led to the downside by Restoration Hardware (RH), Aarons (AAN), Costco (COST), and La-Z-Boy. The Home Furnishings sector remains the strongest performer in the housing industry so far in 2019.

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, LLC

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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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