Real Estate Daily Recap: Third Straight Down-Day for REITs
Coming off a 0.2% decline yesterday, the Hoya Capital US REIT Index finished the day slightly lower again, retreating 0.3% on another fairly quiet trading day. The healthcare REIT sector was the lone sector in positive territory while the timber, mall, and hotel REIT sectors were the relative laggards. The S&P 500 finished lower by 0.7%, the second straight day of declines, retreating from all-time record highs set on Monday while the Nasdaq retreated by 0.5%. The 10-Year yield finished the day lower by 6 basis point following slightly weaker-than-expected housing starts and permits data this morning.
The Hoya Capital US Housing Index finished the day lower by 0.3% with all eight housing sectors finishing in negative territory. The Mortgage Lending/Services and the Residential REIT sectors were the relative outperformers. Fidelity, Redfin, Wayfair, TRI Pointe, and HCP each gained at least 0.9% 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, Timber, and Real Estate Crowdfunding.
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