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The Easy Way To Invest in Real Estate

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  • Writer's pictureAlex Pettee, CFA

Real Estate Daily Recap: REITs Finish Modestly Higher, Housing Gains On Another Busy Day of Earnings

Following a 0.4% gain last yesterday, the Hoya Capital US REIT Index finished the day higher by 0.3%, climbing back into positive territory on the week. The data center, storage, and hotel REIT sectors led the gains on the day while the office and industrial REIT sectors lagged. At 2.54%, the 10-Year yield finished the day higher by 4 basis points. The S&P 500 finished the day lower by 0.2%, the second straight down-down.

The Hoya Capital US Housing Index finished the day higher by 0.4% with six of the eight sectors in positive territory. The Homebuilders and Home Furnishings sectors were the strongest performing segments. Tempur Sealy (TPX) was the strongest performer following better-than expected earnings.

The Real Estate Technology & Brokerage sector was the laggard on the day, dragged down by a sharp 22% decline from Realogy Holdings following worse-than-expected earnings results. Wayfair (W) was also down more than 7% following earnings results.

For the week, REITs are higher by 0.1% while the Housing Index is up 0.3%. Homebuilders are the best-performing housing sector while Storage is the best performing REIT sector.

The jam-packed week for real estate earnings wraps up tomorrow with WPC and AMT.

The busy week for housing and economic data concludes with the monthly non-farm payrolls report 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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