Economics, Housing, & Commercial Real Estate Analysis

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  • Alex Pettee, CFA

REITs Decline Ahead Of Mall And Hotel Reports [Daily Recap]

  • U.S. equity markets consolidated last week's strong gains on Monday as investors look ahead to another busy slate of corporate earnings results amid the gradual reopening of the U.S. economy.

  • Following gains of 3.4% last week, the S&P 500 finished fractionally higher by while the Dow Jones Industrial Average pulled back 110 points while the Nasdaq gained 0.7%.

  • After gaining 1.3% last week, the broad-based Equity REIT ETFs declined by 1.8% on the day with 15 of 18 REIT sectors in negative territory. Mortgage REITs dipped 4.0% today.

  • It's another busy day of REIT earnings season, which has so far been generally better-than-expected. Hotel and mall REITs are the focus this week with the majority of each sector reporting results.

  • Three more REITs were added to the Coronavirus Dividend Cut list today. We've now tracked 46 equity REITs in our universe of 165 names to announce a cut or suspension of their dividends.

Real Estate Daily Recap

U.S. equity markets consolidated last week's strong gains on Monday as investors look ahead to another busy slate of corporate earnings results amid the gradual reopening of the U.S. economy. Following gains of 3.4% last week, the S&P 500 ETF (SPY) finished fractionally higher by while the Dow Jones Industrial Average (DIA) pulled back 110 points while the Nasdaq (QQQ) gained 0.7%. After gaining 1.3% last week, the broad-based Equity REIT ETFs (VNQ) (SCHH) declined by 1.8% on the day with 15 of 18 REIT sectors in negative territory, led to the downside by hotel, shopping center, and mall REITs while Mortgage REITs (REM) dipped 4.0% on the day. 

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