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  • Alex Pettee, CFA

Santa Delivers Special REIT Dividends

  • U.S. equity markets extended their vaccine-driven rally despite the ongoing stimulus stalemate as encouraging vaccine developments, strong housing data, and a dovish Fed lifted equity markets to fresh records.

  • Finishing just below its intra-week record-highs, the S&P 500 gained 0.8% this past week but was again outpaced by the continued resurgence of the Mid-Cap and Small-Cap indexes.

  • Despite a fresh wave of dividend increases and early success in vaccine distribution, the COVID-sensitive property sectors were under pressure this week as 11 of 18 REIT sectors finished lower.

  • Three more equity REITs and six mortgage REITs raised their dividend this week. 50 equity REITs have now boosted their dividends in 2020 above pre-pandemic levels while 67 have cut or suspended.

  • A busy slate of housing data and earnings reports indicated that the red-hot housing industry - which has been the backbone of the economic recovery - has exhibited few signs of cooling into the winter months.

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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 Research & Index Innovations is an affiliated index provider and research firm that builds custom indexes tracking U.S. commercial and residential real estate sectors, including indexes tracked by exchange-traded funds (ETFs). 

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