Keepin' It Real  

Economics, Housing, & Commercial Real Estate Analysis

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  • Alex Pettee, CFA

Real Estate Daily Recap: REITs End Modestly Lower, On Pace For Just 4th Down-Week This Year

Following a nearly 2% retreat yesterday, the Hoya Capital US REIT Index finished the day lower by 0.1% and is on pace for just it's fourth down-week this year. The cell tower, data center, and net lease REIT sectors led the gains on the day while the hotel, student housing, and single family rental REIT sectors lagged. At 2.48%, the 10-Year yield finished the day higher by 3 basis points. The S&P 500 finished the day lower by 0.2% after climbing 0.2% last week.

The Hoya Capital US Housing Index finished the day lower by 0.5% with seven of the eight sectors in negative territory. The Home Furnishings and Home Improvement Retail sectors were the strongest relative performing segments. Zillow, Beacon Roofing, At Home Group, and Wayafir were each up by 2% or more on the day.

The Homebuilding and Homebuilding Products sectors were the relative laggards. Overstock, Redfin, American Woodmark, and Owens Corning were each down by at least 2.4% on the day.

It's a relatively quiet week for housing and economic data, highlighted by PPI data on Thursday, and CPI data on Friday.

Disclosure: An investor cannot invest directly in an index and index performance does not reflect the deduction of any fees, expenses or taxes. The information presented does not reflect the performance of any fund or other account managed or serviced by Hoya Capital Real Estate. We consider the information in this presentation to be accurate, but we do not represent that it is complete. It should not be relied upon as the sole source of suitability for investment. Please consult with your investment, tax or legal adviser regarding your individual circumstances before investing. Visit our website for a complete definition of all indexes cited in this report. Investing involves risk and loss of principal is possible.


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