Following a 1.0% gain yesterday, the Hoya Capital US REIT Index finished the day higher by 0.2%, led by gains in the data center, cell tower, and net lease REIT sectors. The hotel, mall, and industrial REIT sectors were the relative underperforms on the day. The S&P 500 climbed declined by 0.3% and the Nasdaq fell 0.5%%. At 2.39%, the 10-Year yield finished the day lower by 3 basis points, dragged down by a 3% drop in crude oil prices, as yields are again flirting with the lowest level in nearly 18-months.

The Hoya Capital US Housing Index finished the day lower by 0.9% with two of the eight sectors finishing in positive territory. The Real Estate Insurance and Residential REITs were the relative outperforms. Target surged nearly 8% following better-than-expected earnings. Trex, Zillow, Walmart, UDR, and Ventas each finished higher by at least 0.7%.

The Home Improvement Retail and Real Estate Technology & Brokerage sectors were the relative laggards on the day. Lowe's dipped nearly 12% following worse-than-expected earnings. Toll Brothers finished lower by nearly 5% after weak results yesterday afternoon.

New Home Sales data is released on Thursday with Durable Goods data released on Friday.

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