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Housing Rebound ? Geopolitical Worries ? Strong Travel Trends REIT Daily Recap: https://lnkd.in/daCYxZtg Helping to lift the U.S. Economic Surprise Index to the highest level since early 2024, Initial Jobless Claims declined to the lowest level since April in the latest survey, moderating to 213k last week - below the 220k expected. Housing market data has also been surprisingly solid this week, lifting hopes for a post-election rebound in buying demand despite the rebound in mortgage rates. Existing Home Sales unexpectedly rose in October to a 3.96M annualized rate rebounding from three-decade lows earlier this year, and posting the first year-over-year gain since mid-2021. Inventory levels remained lean at 4.2 months - well below the pre-pandemic average of around 6 months - as housing supply levels have remained well below historical averages throughout the Fed's hiking cycle despite the sluggish sales pace. REIT Academy & The Executive REIT Masterclass | The Daily REIT Beat Newsletter | Brad Thomas | ?#REITs #Dividends #Investing #Income #Yield #RealEstate #Housing #Stocks #Bonds #HighYield #DividendInvesting #IncomeInvesting #Diversification #Inflation #realassets #investment

Stocks Rebound ? Housing Optimism ? Week Ahead REIT Daily Recap: https://lnkd.in/exYccQwy Real estate equities were among the outperformers today following two weeks of interest-rate-related underperformance during an otherwise decent earnings season. Homebuilder Sentiment jumped to seven-month highs in early November, suggesting that the single-family housing market may see a post-election acceleration in spite of stiff mortgage rate headwinds. All three components of the NAHB's Housing Market Index rose in November - lifting the composite average to 46 from 42 in the prior month - led by a surge in the future sales outlook to the highest level since 2022. REIT Academy & The Executive REIT Masterclass | The Daily REIT Beat Newsletter | Brad Thomas | #REITs #Dividends #Investing #Income #Yield #RealEstate #Housing #Stocks #Bonds #HighYield #DividendInvesting #IncomeInvesting #Diversification #Inflation #realassets #investment

Firming Inflation Fizzles Optimism REIT Weekly Outlook: https://lnkd.in/es4sFRjZ U.S. equity markets posted their worst week in two months, as benchmark interest rates jumped to four-month highs after a critical slate of inflation data showed modestly firming price pressures. Fueling bets that the Federal Reserve may have to slow the pace of policy easing, the Consumer Price Index and Producer Price Index each posted fractional upside surprises in October. After surging nearly 5% last week en route to fresh record highs, the S&P 500 dipped 2.1% on the week, with healthcare and technology stocks under particularly sharp pressure. Real estate equities were laggards for a second week, as the sharp rebound in benchmark interest rates has taken the wind out of the sails from a generally solid REIT earnings season. REIT earnings season wrapped up with strong reports from senior housing REIT American Healthcare and billboard REIT Outfront Media. Office REIT Hudson Pacific dipped after selling several properties at sharp discounts. REIT Academy & The Executive REIT Masterclass | The Daily REIT Beat Newsletter | Brad Thomas | Seeking Alpha | #REITs #Dividends #Investing #Income #Yield #RealEstate #Housing #Stocks #Bonds #HighYield #DividendInvesting #IncomeInvesting #Diversification #Inflation #realassets #investment

REIT Earnings Scorecard https://lnkd.in/e_Q8FrFk Over 200 U.S. REITs and homebuilders have reported third-quarter earnings results over the past six weeks, providing critical information on the state of the commercial and residential real estate industry. In this report, we highlight some quick incremental positives and negatives we've observed across each of the major property sectors. Next week, we'll publish our detailed "Winners & Losers" Report. Beneath the election season volatility, real estate earnings season was generally in-line with expectations, as notable strength from retail, office, and residential REITs was offset by softness from hotel REITs. Of the 103 equity REITs that provide full-year FFO guidance, 58 (56%) raised their outlook, 32 (31%) maintained their outlook, while 13 (13%) lowered the mid-point of their FFO target. Winners included Data Center, Strip Center, and Senior Housing REITs. Results from other Residential REITs were mixed, as favorable expense trends were offset by rent growth deflation. Losers included Hotel, Self-Storage, Cell Tower, and Cold Storage REITs. REIT Academy & The Executive REIT Masterclass | The Daily REIT Beat Newsletter | Brad Thomas | David Auerbach | Alex Pettee, CFA | #REITs #Dividends #Investing #Income #Yield #RealEstate #Housing #Stocks #Bonds #HighYield #DividendInvesting #IncomeInvesting #Diversification #Inflation #realassets #investment

CPI Ahead ? Sentiment Uplift ? REIT Earnings REIT Daily Recap: https://lnkd.in/eUiAHpJS Outfront Media (OUT) - the second-largest billboard owner in the U.S. - was among the better performers today after reporting solid third-quarter results showing relatively robust Out-of-Home ("OOH") advertising spending trends and declaring a sizable special dividend. Citing steady high-single-digit growth in its local segment and a rebound in its previously sluggish national brand segment, OUT commented that it expects to "achieve the high-end" of its full-year earnings outlook provided earlier this year, which calls for FFO growth of 7.5%. OUT reported 7% comparable year-over-year growth in its local segment, while national brands recorded 3% growth, an improvement from flat growth in Q2. Outfront's transit segment - which was a substantial drag during the pandemic - also continued to recover in Q3, posting comparable revenue growth of 7.3%, outpacing its core billboard segment, which posted comparable revenue growth of 4.8%. third quarter Top categories in the third-quarter were Retail, Tech, Utilities, Telecom, Legal, and Political, while OUT noted weaknesses in Health, Medical, Alcohol, and Education. Outfront will pay a special dividend of $0.45 per share at year-end ($0.75 including its ordinary dividend) - payable in stock or cash - to meet its REIT distribution requirements following the sale of its Canadian business for $410M in June. REIT Academy & The Executive REIT Masterclass | The Daily REIT Beat Newsletter | Brad Thomas | #REITs #Dividends #Investing #Income #Yield #RealEstate #Housing #Stocks #Bonds #HighYield #DividendInvesting #IncomeInvesting #Diversification #Inflation #realassets #investment

Fresh Records ? REIT Earnings ? Inflation Week REIT Daily Recap: https://lnkd.in/eYeBCKqG U.S. equity markets set fresh record-highs Monday- rising for a fifth-straight session- while the US Dollar climbed to one-year highs as investors weighed policy priorities from the incoming Trump Administration. A critical slate of inflation data is the highlight of the economic calendar in the week ahead. The main event comes on Wednesday morning with the Consumer Price Index for October, which investors and the Fed are hoping will show a cooling of inflationary pressures. The Headline CPI is expected to have a "2-handle" for a fourth straight month, but is expected to tick slightly higher to a 2.6% year-over-year rate - up from 2.4% last month - as some disinflationary tailwinds from lower energy prices eased a bit. Later in the week on Thursday, we'll see the Producer Price Index, which is expected to show a similar modest reacceleration in price pressures in October. Headline PPI is expected to tick higher to 2.3% in October from 1.8% in the prior month. On Friday, we'll see Retail Sales data - a key look into the health of the U.S. consumer - which is expected to relatively steady spending trends in October. Retail Sales have posted relatively consistent year-over-year growth rates of 2-3% throughout 2024, roughly matching the rate of inflation. REIT Academy & The Executive REIT Masterclass | The Daily REIT Beat Newsletter | Brad Thomas | #REITs #Dividends #Investing #Income #Yield #RealEstate #Housing #Stocks #Bonds #HighYield #DividendInvesting #IncomeInvesting #Diversification #Inflation #realassets #investment

A Decisive Realignment Real Estate Weekly Outlook: https://lnkd.in/eyE8gCun U.S. equity markets soared to record highs this week after President-elect Trump scored a surprisingly decisive election victory, including a likely "trifecta" of Republican legislative control in Congress. The outcome sparked powerful moves across global financial markets as investors priced in a combination of domestic-focused and "pro-growth" economic policies but also reflected concern over deficits and immigration policy. Characteristic of the "Trump trade" dynamic, smaller-cap companies led the surge, outperforming mega-cap technology and international-heavy peers. The S&P Small-Cap 600 soared 9%, outpacing 5% gains from the S&P 500. Real estate equities were laggards this week as benchmark interest rates hovered around four-month highs, offsetting some likely longer-term tailwinds related to tax policy and domestic-focused economic policies. Bond markets also posted strong gains this week - recovering from a brief post-election dip - after Federal Reserve Chair Powell stated that the Trump victory would have no "near-term" impact on U.S. monetary policy. While shorter-term rates rose on expectations of fewer Fed rate cuts, longer-term rates declined on a pull-back in inflation expectations. REIT Academy & The Executive REIT Masterclass | The Daily REIT Beat Newsletter| Brad Thomas | #REITs #Dividends #Investing #Income #Yield #RealEstate #Housing #Stocks #Bonds #HighYield #DividendInvesting #IncomeInvesting #Diversification #Inflation #realassets #investment

Trump Sweep ? Stocks Surge ? Fed Ahead REIT Daily Recap: https://lnkd.in/dmKfZWx7 U.S. equity markets soared to record highs Wednesday after former President Trump claimed a surprisingly decisive election victory - including a "trifecta" of political control via Republican wins in the Senate and House. Climbing to fresh record-highs, the S&P 500 gained 2.5% today, while the Dow Jones Industrial Average soared over 1,500 points. Consistent with the pre-election "Trump trade" dynamic, smaller-cap companies and pro-cyclical segments led the surge today, outperforming their mega-cap technology peers. Real estate equities and other rate-sensitive sectors were laggards today as benchmark interest rates jumped to four-month highs, offsetting some likely longer-term tailwinds related to tax policy and domestic-focused economic policies. The Equity REIT Index declined 2.1% today, with 13-of-18 property sectors in negative territory, while the Mortgage REIT Index slipped 0.6%. Hotel and Single-Family Rental REITs rallied today, while Cell Tower and Cannabis REITs tumbled. REIT Academy & The Executive REIT Masterclass | The Daily REIT Beat Newsletter | Brad Thomas | #REITs #Dividends #Investing #Income #Yield #RealEstate #Housing #Stocks #Bonds #HighYield #DividendInvesting #IncomeInvesting #Diversification #Inflation #realassets #investment

Election Night ? REIT Earnings ? Stocks Rebound REIT Daily Recap: https://lnkd.in/eQuaTbwg U.S. equity markets rallied Tuesday while benchmark interest rates held steady as investors parsed early election indicators and preliminary results, which continued to suggest razor-thin margins in the U.S. Presidential race between former President Trump and Vice President Harris. The relatively strong quarter for office REITs continued over the past 24 hours. West Coast-focused office REIT Douglas Emmett (DEI) rallied 3% today after reporting surprisingly solid third-quarter results - highlighted by impressive leasing volume - and raising its full-year outlook. $DEI signed 1.0M square feet of office space in Q3 - up from roughly 800k SF last quarter - which was roughly 20% above its pre-pandemic average from 2017-2019. DEI took a hit on rental rates, however, recording a -11.2% decline in spreads, which was a slight improvement from its record-low of -12.3% last quarter. Fueled by this strong leasing volume, DEI lifted its full-year outlook, now expecting 2024 FFO to decline by -8.1% this year (up from -9.3% previously) and expects same-store NOI growth of -2.3% (up from -3.1% previously). NYC-focused Vornado (VNO) gained 2% today after reporting mixed results, as strong trends in its retail portfolio offset a relatively soft quarter for office leasing activity. VNO signed 292k SF of NYC office space in Q3 - down about 20% from its four-quarter average - and down more than 50% from its pre-pandemic average. Easterly Government (DEA) slipped 1% today after reporting in-line results and maintaining its full-year outlook while also introducing 2025 guidance indicating another year of steady low-single-digit growth. DEA continues to expect full-year FFO growth of 1.8% this year, and sees growth of 2.6% in 2025 at the midpoint of its initial outlook. REIT Academy & The Executive REIT Masterclass | The Daily REIT Beat Newsletter | Brad Thomas | #REITs #Dividends #Investing #Income #Yield #RealEstate #Housing #Stocks #Bonds #HighYield #DividendInvesting #IncomeInvesting #Diversification #Inflation #realassets #investment