REITs Kick-Off Busiest Week Of Earnings [Daily Recap]
- U.S. equity markets finished mostly higher on Monday on positive data on the status of the coronavirus outbreak while more U.S. states announced plans to re-open their economies.
- After finishing roughly flat last week, the S&P 500 finished higher by 0.4% while the Dow Jones Industrial Average gained roughly 25 points and the Nasdaq jumped 1.2%.
- Following gains of roughly 2% last week, real estate equities were mixed ahead of the busiest week of earnings season. Roughly 50% of REITs announce earnings results this week.
- The broad-based Equity REIT ETFs declined by 0.6% with 6 of the 18 REIT sectors in positive territory while Mortgage REITs finished flat. Homebuilders gained roughly 1%.
Real Estate Daily Recap
U.S. equity markets finished mostly higher on Monday on positive data on the status of the coronavirus outbreak while more U.S. states announced plans to re-open their economies. After finishing roughly flat last week, the S&P 500 ETF (SPY) finished higher by 0.4% while the Dow Jones Industrial Average (DIA) gained roughly 25 points. Following gains of roughly 2% last week, real estate equities were mixed ahead of the busiest week of earnings season. The broad-based Equity REIT ETFs (VNQ) (SCHH) declined by 0.6% with 6 of the 18 REIT sectors in positive territory while Mortgage REITs (REM) finished flat. Roughly 50% of the REIT universe announces earnings results this week.
