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  • Alex Pettee, CFA

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.

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