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  • Alex Pettee, CFA

Real Estate Daily Recap: REITs Rally As Earnings Heat Up, Homebuilders Lower on Existing Sales Miss

Coming off a slight retreat yesterday, the Hoya Capital US REIT Index finished the day strongly higher, rallying more than 1% led by the shopping center, mall, and hotel REIT sectors. The student housing REIT sector was the lone sector in negative territory. The S&P 500 and Nasdaq each finished higher by 0.7% as the 10-Year yield climbed by 3 basis points to end the day at 2.07%.

The Hoya Capital US Housing Index finished the day higher by 0.5% despite a sharp sell-off in the Homebuilding sector following weaker-than-expected Existing Home Sales data and soft earnings from Pulte. The Real Estate Technology & Brokerage sector was the outperformer on the day with Realogy jumping nearly 20% after announcing a partnership with fellow US Housing Index constituent Amazon. Sherwin Williams also jumped nearly 8% on stronger-than-expected earnings while Zillow, Overstock, AO Smith, and Eagle Materials were all higher by at least 3%.

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, Timber, 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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