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  • Alex Pettee, CFA

Real Estate Daily Recap: Homebuilders Jump Nearly 3% As Impressive Year Continues

The Hoya Capital US REIT Index finished the day lower by 0.2%, led to the upside by the mall, student housing, and shopping center REIT sectors. The storage, cell tower, and healthcare REIT sectors were the relative underperformers on the day. The S&P 500 finished the day higher by 0.2% while the Nasdaq finished flat. At 2.51%, the 10-Year Yield finished the day lower by 1 basis point and remains nearly 80 basis points lower than it's peak last October.

The Homebuilding sector was the strongest performer on the day with strong gains from TRI Pointe (TPH), KB Homes (KBH), and Taylor Morrison (TMHC). The Home Furnishings sector also delivered a strong day led by At Home (HOME), Bed Bath & Beyond (BBBY), and American Woodmark (AMWD).

The Residential REIT sector was the relative laggard on the day with ExtraSpace (EXR), Welltower (WELL), and Aimco (AIV) leading to the downside. Outside of that sector, RealPage (RP) and Restoration Hardware (RH) were also laggards.

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 Research & Index Innovations is an affiliated index provider and research firm that builds custom indexes tracking U.S. commercial and residential real estate sectors, including indexes tracked by exchange-traded funds (ETFs). 

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