Real Estate Daily Recap: REITs Climb For 3rd Day, Housing Rallies Following Strong Earnings from RH
For the third straight day, the Hoya Capital US REIT Index ended the day higher, gaining 0.6%, led by the shopping center, industrial, and mall REIT sectors. The cell tower, net lease, and storage REIT sectors were the relative laggards. Following consecutive modest down-days, the S&P 500 finished higher by 0.5% while the Nasdaq climbed 0.6%. At 2.09%, the 10-Year yield finished the day lower by 4 basis points and are again flirting with the lowest level in 21 months.
The Hoya Capital US Housing Index finished the day higher by 1.0% with all eight housing sectors in positive territory. The Home Furnishing and Home Improvement Retail sector were the outperformers on the day. Restoration Hardware jumped more than 15% following better-than-expected earnings, leading a handful of other housing-related names higher including Realogy, At Home, Williams-Sonoma, and Whirlpool.
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, and Real Estate Crowdfunding.
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