• Alex Pettee, CFA

Cell Tower REITs Surge On Merger Approval [Daily Recap]

  • U.S. equity markets were mixed on Tuesday as investors parsed comments from Fed Chair Powell, corporate earnings results, and another notable merger, while coronavirus-related fears continue to linger.

  • The S&P 500 finished higher by 0.1% while the Dow Jones Industrial Average finished essentially flat. The 10-Year Treasury Yield recovered 4 basis points to close at 1.59%.

  • The broad-based commercial Real Estate ETF (VNQ) led the charge today, gaining nearly 1% following the merger approval between Sprint and T-Mobile, which lifted cell tower REITs to 5% gains.

  • The emergence of a fourth competitor - DISH Network - as a precondition to approval has been an unexpected coup for cell tower REITs, which had faced the possible paring of an already short roster of tenants.

  • This news follows yesterday's blockbuster acquisition of Taubman by mall REIT stalwart Simon Property Group. Retail REITs, however, were broadly lower on the day after another round of soft earnings results.

To continue reading, click here to visit Seeking Alpha!

Glass Buildings

Keepin' It Real 

Economics, Housing, & Commercial Real Estate Analysis

apartment REITs
homebuilders ETFs
single family rental REITs
manufactured housing REITs
student housing REITs
data center REITs
Cell tower REITs
net lease REITs
industrial REITs
storage REITs
office REITs
mall REITs
REIT Preferreds and Bonds
hotel REITs
Timber REITs
healthcare REITs
REIT ETFs
Billboard REITs
shopping center REIT
High-Yield Real Estate ETFs
Real Estate CEFs
Casino REITs
cannabis REITs
prison REITs
mortgage REITs
real estate crowdfunding
REIT Portfolio Strategy
REITs Taxes
1/1
HOMZ_Logo_Just Ticker.png
ETF express.png

Explore our Real Estate Indexes

The Easy Way To Invest in Real Estate

REIT Forum HOYA AD.png