Real Estate Daily Recap: Mixed Day for Real Estate Following Strong Retail Sales Data
Coming off a 0.1% decline yesterday, the Hoya Capital US REIT Index finished the day slightly lower, retreating 0.2%, trading in a tight daily range. The industrial REIT sector led the way on the day following better-than-expected earnings from Prologis (PLD). The timber, hotel, and manufactured housing sectors were the only other REIT sectors to finish in positive territory on the day. The S&P 500 finished lower by 0.3%, retreating from all-time record highs set yesterday while the Nasdaq retreated by 0.5%. The 10-Year yield finished the day higher by 3 basis point following stronger-than-expected retail sales data this morning.
The Hoya Capital US Housing Index finished the day higher by 0.3% with three of the eight housing sectors finishing in positive territory. The Homebuilding and Home Furnishings sectors were the strongest-performers on the day, led by Whirlpool, At Home, Middleby, Bed Bath & Beyond, and Toll Brothers.
For an in-depth analysis of all real estate sectors, be sure to check out all of our quarterly reports: Homebuilders, Apartments, Student Housing, Single Family Rentals, Manufactured Housing, Cell Towers, Healthcare, Industrial, Data Center, Malls, Net Lease, Apartments, Shopping Centers, Hotels, Office, Storage, Timber, and Real Estate Crowdfunding.
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