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  • Alex Pettee, CFA

Real Estate Daily Recap: REITs Jump After Fed Signals Dovish Path

Bouncing back from early day losses, the Hoya Capital US REIT Index finished the day higher by 0.6%, rallying into the close after the Fed held rates stated, but signaled a dovish path and hinting at a rate cut as early as next month. The data center, industrial, and healthcare REIT sectors led the gains on the day while the mall and hotel REIT sectors lagged. The S&P 500 finished higher by 0.3% while the Nasdaq climbed 0.4%.

The Hoya Capital US Housing Index finished the day flat with three of the eight housing sectors finishing in positive territory. The Home Furnishings and Real Estate Insurance sectors led the way on the day. La-Z-Boy jumped 9% following better-than-expected earnings while Overstock, Wayfair, Tempur Sealy, and First American each rallied more than 2% on the day.

In the commercial REIT sector, Sabra Healthcare, Rexford Industrials, Washington REIT, and SBA Communications each rallied more than 1.5% on the day.

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.

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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Hoya Capital Research & Index Innovations is an affiliated index provider and research firm that builds custom indexes tracking U.S. commercial and residential real estate sectors, including indexes tracked by exchange-traded funds (ETFs). 

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