Keepin' It Real 

Economics, Housing, & Commercial Real Estate Analysis

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  • Alex Pettee, CFA

Dividend Cuts | Rent Collection Steady | Strong Earnings

Daily Recap

  • U.S. equity markets finished lower Thursday after a disappointing slate of economic data that showed a mild reacceleration in unemployment filings while GDP data showed a record-breaking decline in output.

  • After gaining 1.2% yesterday, the S&P 500 finished lower by 0.4% today while the Dow Jones Industrial Average dipped 226 points following yesterday's 161 point-gain.

  • Still among the strongest-performing sectors this week, the Equity REIT ETF finished lower by 0.7% with 11 of 18 property sectors in negative territory amid a frenetic 48-hours of earnings.

  • Office REIT Vornado Realty announced a 20% cut in their quarterly dividend, becoming the 60th equity REIT out of our universe of 170 that have now announced a cut or suspension of their common dividend.

  • On a frenetic day of REIT and big-tech earnings, data center REIT Digital Realty reported a record quarter for leasing activity driven by a surge in leasing demand for cloud computing applications.

To read the full report, click here to visit Seeking Alpha!

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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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