Keepin' It Real 

Economics, Housing, & Commercial Real Estate Analysis

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  • Alex Pettee, CFA

REITs Rally | Record Week | Vaccine Optimism

  • U.S. equity markets rallied Friday to close at fresh record-highs as optimism about a forthcoming coronavirus vaccine overcame near-term worries over the "third-wave" of the pandemic and resulting economic lockdowns.

  • Ending the week with gains of roughly 2%, the S&P 500 finished higher by 1.4% today while the Dow Jones Industrial Average rallied 399-points, ending the week higher by 4%.

  • Surging by more than 7% on the week and closing at the highest level since March 10th, Equity REITs (VNQ) jumped 2.8% today with all 18 property in positive territory.

  • Shopping center and hotel REITs surged more than 30% this week while office and mall REITs rebounded more than 20% while two REITs more-than-doubled in value.

  • We'll have a full analysis of this week's incredible price action in our Real Estate Weekly Recap published tomorrow morning.

Real Estate Daily Recap

U.S. equity markets rallied Friday to close at fresh record-highs as optimism about a forthcoming coronavirus vaccine overcame near-term worries over the "third wave" of the pandemic and resulting economic lockdowns. Ending the week with gains of roughly 2%, the S&P 500 ETF (SPY) finished higher by 1.4% today while the Dow Jones Industrial Average (DIA) rallied 399 points, ending the week higher by more than 4%. Surging by more than 7% on the week and closing at the highest level since March 10th, the broad-based Equity REIT ETF (VNQ) jumped 2.8% today with all 18 property sectors in positive territory while the Mortgage REIT ETF (REM) jumped 3.1% to end the week with gains of nearly 9%.

All 11 GICS equity sectors finished in positive territory today, led by the Energy (XLE), Industrials (XLI), and Materials (XLB) sectors while homebuilders and the broader Hoya Capital Housing Index were among the leaders as well. "Sector rotation" was the theme of the day - and of the week - as investors shifted away from the "stay at home winners" and towards some of the most beaten-down segments of the equity market. Of note, shopping center and hotel REITs surged more than 30% this week while office and mall REITs rebounded more than 20% while two REITs more-than-doubled in value. We'll have a full analysis of this week's incredible price action in our Real Estate Weekly Recap published tomorrow morning. 

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Disclosure: A complete list of holdings and Real Estate and Housing Index definitions and holdings are available at HoyaCapital.com. Hoya Capital Real Estate advises an Exchange Traded Fund listed on the NYSE. Hoya Capital is long all components in the Hoya Capital Housing 100 Index.

Additional Disclosure: It is not possible to invest directly in an index. Index performance cited in this commentary does not reflect the performance of any fund or other account managed or serviced by Hoya Capital Real Estate. Data quoted represents past performance, which is no guarantee of future results. Information presented is believed to be factual and up-to-date, but we do not guarantee its accuracy.

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Hoya Capital Real Estate ("Hoya Capital") is an SEC-registered investment advisory firm that provides investment management services to ETFs, individuals, and institutions, focusing on portfolio and index management of publicly traded securities in the real estate industry. It is not possible to invest directly in an index. Index performance cited in this website or commentary does not reflect the performance of any fund or other account managed or serviced by Hoya Capital Real Estate. Nothing on this site nor any published commentary by Hoya Capital is intended to be investment, tax, or legal advice or an offer to buy or sell securities. Information presented is believed to be factual and up-to-date, but we do not guarantee its accuracy and should not be considered a complete discussion of all factors and risks. Data quoted represents past performance, which is no guarantee of future results. Investing involves risk. Loss of principal is possible. Investments in companies involved in the real estate and housing industries involve unique risks, as do investments in ETFs, mutual funds, and other securities. Hoya Capital has no business relationship with any company discussed/mentioned. Hoya Capital never receives compensation from any company discussed/mentioned. Hoya Capital, its affiliate, and/or its clients and/or its employees may hold positions in securities or funds discussed on this website and our published commentary. A complete list of holdings and other important disclosures and definitions are available by clicking the links below.

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