Real Estate Daily Recap: REITs End Flat, Homebuilders Down 1% As Markets Snap Winning Streak
Coming off a 0.3% decline yesterday, the Hoya Capital US REIT Index ended the day higher by 0.2% as the major US indexes broke their week-long winning streak. The mall, net lease, and cell tower REIT sectors led the way, while the manufactured housing, office, storage REIT sectors lagged. Following a 0.5% gain yesterday, the S&P 500 finished fractionally lower while the Nasdaq climbed 0.1%. At 2.14%, the 10-Year yield finished the day flat after hitting the lowest level in 21 months last week.
The Hoya Capital US Housing Index finished the day lower by 0.1% with three of the eight sectors in positive territory. The Home Furnishing and Mortgage Lenders/Servicers sector were the outperformers on the day. Overstock, Williams-Sonoma, Regions Financial, PPG, and Weyerhaeuser were each higher by 1.5% or more on the day.
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