Keepin' It Real 

Economics, Housing, & Commercial Real Estate Analysis

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  • Alex Pettee, CFA

Stocks Mixed | REITs Decline | Another Dividend Cut

Daily Recap

  • U.S. equity markets finished roughly flat on Thursday as signs of modest improvement in the labor market were offset by worries over an uptick in coronavirus cases in several regions.

  • Following a decline of 0.4% yesterday, the S&P 500 finished flat on the day while the Dow Jones Industrial Average finished lower by 40 points following yesterday's 170 point decline.

  • Adding to yesterday's declines of 1.5%, the broad-based Equity REIT ETFs declined another 1.1% today with 17 of 18 property sectors in negative territory.

  • Jobless Claims data showed that fewer Americans filed for initial unemployment benefits last week, but continuing jobless claims haven't retreated as quickly as some expected.

  • Shopping Center REIT Kite Realty, which collected more rent in April and May than the majority of the shopping center REIT sector, become the 58th equity REIT to cut their dividend since the beginning of the pandemic.

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Hoya Capital Real Estate, LLC

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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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