• Alex Pettee, CFA

REITs Pull-Back | Dividend Cuts | Strong Housing Demand

Daily Recap

  • U.S. equity markets snapped a three-day winning streak on continued concerns of a "second wave" of the pandemic, concern that were partially offset by further evidence of an emerging economic rebound.

  • Following a gain of 1.9% yesterday, the S&P 500 declined by 0.4% on the day while the Dow Jones Industrial Average dipped 170 points following yesterday's 527 point rally.

  • After gaining 2.0% yesterday, the broad-based Equity REIT ETFs declined by 1.5% today with 15 of 18 property sectors in negative territory while Mortgage REITs declined by 1.5%.

  • Prison REITs led the declines today after CoreCivic announced a suspension of their dividend, becoming the 55 equity REIT to suspend or cut dividends since the start of the pandemic.

  • V-Shaped Housing Recovery? The Mortgage Bankers Association reported that mortgage applications to purchase a home rose for the 9th straight week to an 11-year high and are now 21% higher from the same week last year.

To continue reading, click here to visit Seeking Alpha!

Glass Buildings

Keepin' It Real 

Economics, Housing, & Commercial Real Estate Analysis

apartment REITs
homebuilders ETFs
single family rental REITs
manufactured housing REITs
student housing REITs
data center REITs
Cell tower REITs
net lease REITs
industrial REITs
storage REITs
office REITs
mall REITs
REIT Preferreds and Bonds
hotel REITs
Timber REITs
healthcare REITs
REIT ETFs
Billboard REITs
shopping center REIT
High-Yield Real Estate ETFs
Real Estate CEFs
Casino REITs
cannabis REITs
prison REITs
mortgage REITs
real estate crowdfunding
REIT Portfolio Strategy
REITs Taxes
1/1
HOMZ_Logo_Just Ticker.png
ETF express.png

Explore our Real Estate Indexes

The Easy Way To Invest in Real Estate

REIT Forum HOYA AD.png