• Facebook Social Icon
  • Twitter Social Icon
  • LinkedIn Social Icon

Hoya Capital Real Estate, LLC

Invest@HoyaCapital.com

(833) HOYA-CAP

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. Nothing on this site is intended to be investment advice or an offer to buy or sell securities. The risks of investing in real estate securities are similar to those associated with direct investments in real estate, including falling property values, lack of liquidity, limited diversification, and sensitivity to certain economic factors such as interest rate changes and market recessions. No representation or warranty is made as to the efficacy of any particular strategy or fund, or the actual returns that may be achieved. An investor cannot invest directly in an index and index performance does not reflect the deduction of any fees, expenses or taxes. Data quoted represents past performance, which is no guarantee of future results. The views and opinions in the preceding commentary are as of the date of publication and are subject to change without notice. The information presented does not reflect the performance of any fund or other account managed or serviced by Hoya Capital, and there is no guarantee that investors will experience the type of performance reflected. There is no guarantee that any historical trend illustrated herein will be repeated in the future, and there is no way to predict precisely when such a trend will begin. There is no guarantee that any trend cited in this market commentary will be realized. This material represents an assessment of the market environment at a specific point in time, should not be relied upon as investment advice, is not intended to predict or depict performance of any investment and does not constitute a recommendation or an offer for a particular security. 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 investment advice or as the sole source of suitability for investment. Please consult with your investment, tax or legal adviser regarding your individual circumstances before investing.

Additional Disclosure & Privacy Policy

Seeking-Alpha-Logo.png

The Easy Way To Invest In Real Estate

Economics, Housing, & Commercial Real Estate Analysis

Keepin' It Real 

Apartment REITs
Homebuilders 1.png
Data Center REITs
Mall REITs
Net Lease REITs
Housing100logo.png
  • Alex Pettee, CFA

Daily Recap: Stocks Lower | Weak Manufacturing | Strong Income Growth

After closing at record-highs yesterday following the Fed's third rate cut of 2019, the S&P 500 ETF (SPY) declined by 0.3% on the day as investors digested a flurry of mixed economic data, earnings reports, and trade commentary. The 10-Year Treasury Yield (IEF) ticked lower by 10 basis points on the day, closing at 1.69%, as PCE inflation data come in cooler-than-expected and Chicago PMI slid to nearly four-year lows.

 

Personal income and spending data, however, came in better-than-expected with real personal incomes rising 3.5% year-over-year, matching the strongest rate since August 2018. Despite the decline in yields, real estate equities were mixed on the day as the broad-based REIT ETF (VNQ) ended the day lower by 0.1%, led to the upside by the manufactured housing, single-family rental, and storage REIT sectors while the timber, shopping center, and data center sectors lagged. 

The Hoya Capital Housing Index, the benchmark that tracks the performance of the US housing industry, finished the day lower by 0.5% as modest strength from the residential REIT and real estate insurance sector was offset by weakness in the homebuilding and home furnishings sector. The 58% surge in new home orders wasn't enough for high-flying homebuilder MDC Holdings (MDC), which traded off by more than 11% on the day.


Apartment REIT Mid-America (MAA) and mattress manufacturer Tempur Sealy (TPX) were among the stronger-performers on the day after strong earnings reports yesterday afternoon and this morning, respectively. Toll Brothers(TOL), RE/Max (RMAX), Camden (CPT), and AIMCO (AIV) all reported earnings this afternoon after the bell. 

As discussed in our Weekly Outlook, the "data dump" of economic data concludes tomorrow with a look at October's nonfarm payrolls report, as well as construction spending data.


Hotel REITs
Single Family Rental REITs
Mobile Home REITs
Healthcare REITs
prison REITs overview.png