Keepin' It Real 

Economics, Housing, & Commercial Real Estate Analysis

1/1
Housing100logo.png
ETF express.png
  • Alex Pettee, CFA

REITs Under Pressure As Job Losses Mount [Daily Recap]

  • U.S. equity markets finished mostly higher on Thursday, climbing back into positive territory for the week, on optimism about re-opening the economy amid another day of brutal economic data.

  • Following declines of 2.1% yesterday, the S&P 500 gained 0.6% while the Dow Jones Industrial Average added 30 points following yesterday's 450 point-decline.

  • The tough week for real estate equities continued amid continued uncertainty over rent collection and mortgage forbearance. Equity REIT ETFs declined by 1.6% while Mortgage REITs fell 2.3%.

  • Initial Jobless Claims data showed that a decade's worth of employment gains have been erased - at least temporarily - in the last four weeks alone. 5.2 million claims were filed last week, pushing the 4-week total to over 22 million.

  • Still below "normal" levels of construction, Housing Starts and Permits data indicated that the slow, grinding recovery in new home construction is poised to suffer a sizable setback amid considerable uncertainty in the mortgage and labor markets.

Real Estate Daily Recap

U.S. equity markets finished mostly higher on Thursday, climbing back into positive territory for the week, on optimism about re-opening the economy amid another day of brutal economic data. Initial Jobless Claims data showed that a decade's worth of employment gains have been erased - at least temporarily - in the last four weeks alone. Following declines of 2.1% yesterday, the S&P 500 ETF (SPY) gained 0.6% while the Dow Jones Industrial Average (DIA) added 30 points following yesterday's 450 point-decline. The tough week for real estate equities continued, however, amid continued uncertainty over rent collection and mortgage forbearance as the broad-based commercial Equity REIT ETFs (VNQ) (SCHH) declined by 1.6% with 14 of the 18 REIT sectors in negative territory while Mortgage REITs (REM) finished lower for the fourth straight day, declining by another 2.3%.

Click here to read the full report on Seeking Alpha!

  • Facebook Social Icon
  • Twitter Social Icon
  • LinkedIn Social Icon

Hoya Capital Real Estate, LLC

Invest@HoyaCapital.com

(833) HOYA-CAP

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.

Privacy Policy 

 Client Relationship Summary 

Hoya Capital's ADV Part 2

Important Disclosures, Definitions, & List of Holdings 

Seeking-Alpha-Logo.png

The Easy Way To Invest In Real Estate