Keepin' It Real  

Economics, Housing, & Commercial Real Estate Analysis

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  • Alex Pettee, CFA

Peak Earnings | Jobs Data | Housing Stays Hot

Daily Recap

  • U.S. equity markets extended their rally Wednesday despite downbeat ADP employment data this morning as lawmakers are reportedly nearing a deal on the next round of fiscal stimulus.

  • Gaining for the fourth-straight day, the S&P 500 gained 0.6% today while the Dow Jones Industrial Average jumped 373 points following yesterday's 165 point-rally and the Nasdaq closed at record-highs.

  • Amid a frenetic stretch of real estate earnings reports, the Equity REIT ETF finished lower by 0.5% today with 15-of-18 property sectors in negative territory. Mortgage REITs gained 1.7% today.

  • Today's gains came despite a downbeat ADP payrolls report which showed just 167k jobs added in July versus the 1 million increase expected. Mortgage data, however, showed a continuation of the strong trends in the housing market.

  • It's the busiest 48-hour stretch for commercial real estate earnings with a bevy of healthcare, retail, and hotel REITs reporting results. We'll update this report throughout the evening with our commentary.

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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