The Hoya Capital US REIT Index finished the day higher by 0.1%, led to the upside by the hotel, data center, and industrial sectors, but dragged down by the cell tower, net lease, and healthcare REIT sectors. The S&P 500 finished the day higher by 1.2% while the Nasdaq climbed 1.3%. At 2.50%, the 10-Year Yield finished the day higher by 9 basis points, pressuring the yield-sensitive segments of the REIT market.

The Real Estate Technology & Brokerage was the strongest performing industry sector in the Hoya Capital US Housing Index on the day, led by Redfin, which jumped nearly 7% following an analyst upgrade from Piper. The Mortgage Lending sector also finished higher by more than 2%, as did the Real Estate Insurance sector, led by First American (FAF), Fidelity National (FNF), Regions Financial (RF), and Huntington (HBAN). Trex (TREX) and At Home (HOME) also climbed more than 4% on the day.

Residential REITs were the relative underperformers on the day, dragged down by Ventas (VTR), ExtraSpace (EXR), Welltower (WELL), and Mid-America (MAA). The Home Furnishings and Home Improvement Retail sectors were each up 0.7% despite a mixed retail sales report in the morning.

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