Rent Paid: REITs Rally As Outlook Brightens
Updated: Sep 10, 2020
U.S. equity markets rallied this week as solid corporate earnings results and another slate of stellar housing data contrasted with data showing a record plunge in economic output last quarter.
Fiscal and monetary stimulus were in focus ahead of a critical week of employment data that is likely to show a deceleration in the pace of the economic recovery.
Real estate equities were among the leaders after a surprisingly solid start to earnings season. Rent collection continues to improve while just one REIT has cut dividends thus far.
Here Come The Millennials: The Homeownership Rate soared to the highest level since 2008 while the vacancy rate of both rented and owned housing units dropped to multi-decade lows.
Data center, industrial, and housing REITs were the positive standouts this week while mortgage REIT earnings were also better than expected. We analyze the notable earnings of the past week.