Real Estate Daily Recap: REITs and Housing Finish Lower, Earnings in Focus
Coming off a nearly 2% decline last week, the Hoya Capital US REIT Index finished the day slightly lower, retreating 0.2% as earnings season kicks into full-gear. The cell tower, student housing, and industrial REIT sectors were the leaders on the day while the hotel, mall, and apartment REIT sectors lagged. The S&P 500 finished higher by 0.2% while the Nasdaq climbed 0.8%. The 10-Year yield finished the day flat at 2.04% ahead of a busy week of economic data.
The Hoya Capital US Housing Index finished the day lower by 0.4% with two of the eight housing sectors finishing in positive territory. The Homebuilding Products was the laggard on the day following disappointing results from Lennox (LII). In after-hours trading, however, Whirlpool (WHR) reported better-than-expected results and raised guidance. The Real Estate Technology & Brokerage sector was the outperformer on the day with Redfin and CoreLogic leading the gains.
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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