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.
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