Hoya Capital的动态

Rate Cut Rethink? Real Estate Weekly Outlook: https://lnkd.in/e8PrSJWF U.S. equity markets extended gains to a fifth-straight week despite a continued upswell in benchmark interest rates, as investors weighed a solid start to earnings season against lukewarm inflation data. All eyes were on the Consumer Price Index report, which posted a fractional upside surprise in September for a second-straight month, which followed four straight months of cooler-than-expected reports. Bond markets remained under pressure as buoyant labor market data last week and lukewarm inflation data this week have prompted investors to re-think the prospects of aggressive Fed rate cuts. Notching a series of fresh record-highs throughout the week, the S&P 500 gained another 1.2% this week - posting gains for the tenth week in the past eleven. Real estate equities - the most rate-sensitive market segment - lagged the broader market for a fifth-straight week following a powerful rebound from early July through early September. 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

Brace For Volatility Real Estate Weekly Outlook: https://lnkd.in/ebd7RFsY U.S. equity markets snapped a six-week winning streak, while benchmark interest rates surged to three-month highs as investors braced for a volatile two-week stretch of market-moving events. Another surprisingly solid slate of domestic economic data - highlighted by improved jobless claims and consumer sentiment reports - lifted the U.S. Economic Surprise Index to the highest-level since April. Retreating from record-highs, the S&P 500 finished lower by 1% on the week, declining for just the second time in the past twelve weeks. Rate-sensitive segments and small-caps were laggards. Real estate equities were under renewed pressure as rate headwinds offset an otherwise strong start to REIT earnings season. The Equity REIT Index slipped 1.8% this week. Data Center REIT Digital Realty was the upside standout, surging 10% after reporting record leasing volume and rent growth. At the quarter-way-point of earnings season, 70% of REITs have raised their full-year FFO 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

Weekly Outlook: Certainly Uncertain https://lnkd.in/eJnE34Pj U.S. equity markets posted their worst week since April while benchmark interest rates rebounded from four-month lows as a wild week of political developments sparked a surge in volatility. Markets reflected a higher likelihood of a conservative victory after former President Trump survived an assassination attempt last weekend, adding fuel to the rotation from multinational growth towards value-oriented domestic. The tech-heavy Nasdaq 100 slid 4% on the week, as tech-specific concerns compounded pre-existing macroeconomic dynamics, but small-cap and mid-cap indices outperformed. Real estate equities led for a second-straight week, lifted by a strong start to REIT and homebuilder earnings season. All six REITs that reported results raised their full-year FFO outlook. Not exclusive to the political arena, "certainly uncertain" was the theme across economic reports this week as the Fed entered its "quiet period." Continuing Jobless Claims jumped to nearly four-year highs, but Retail Sales and Housing Starts topped modest estimates. REIT Academy & The Executive REIT Masterclass | The Daily REIT Beat Newsletter | Seeking Alpha | #REITs #Dividends #Investing #Income #Yield #RealEstate #Housing #Stocks #Bonds #HighYield #DividendInvesting #IncomeInvesting #Diversification #Inflation #realassets #investment

Fed Goes Big Real Estate Weekly Outlook: https://lnkd.in/e_Y-gRw8 U.S. equity and bond markets exhibited a surprisingly muted response to the Federal Reserve's decision to cut interest rates by 50 basis points, a distinctly dovish pivot following its aggressive tightening cycle. Longer-term benchmark rates actually climbed modestly after the decision in a "curve steepening" trade, reflecting concern that the Fed's dovish tack could revive some inflationary pressures. Led by "pro-cyclical" market segments, the S&P 500 posted gains of 1.1% this week, breaching fresh record highs on Thursday before paring post-Fed gains late in the week. Real estate equities - the most "Fed sensitive" market segment - delivered mixed performance despite the jumbo rate cut, led by economically sensitive property sectors including hotels and office REITs. The long-sputtering office sector was lifted by news that retail giant Amazon is instituting a new "return to office" policy, mandating that most corporate staffers spend five days a week in the office. 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

Fed Ahead Real Estate Daily Recap: https://lnkd.in/e3A4c_E6 Ahead of the Federal Reserve's critical interest rate decision next week, U.S. equity markets snapped a three-week winning streak as benchmark interest rates jumped to the cusp of five-month highs. Lukewarm CPI and PPI inflation reports were "good enough" to solidify another Fed rate cut next week, but "sticky" trends called into question the outlook for continued easing in 2025. After setting a series of fresh record-highs in the prior week, the S&P 500 slipped 0.6% this week, but still remains on pace for its best year since 2019. Pressured by the sharp rebound in benchmark interest rates, real estate equities were under pressure for a second week despite another wave of REIT dividend increases and special dividends. Three REITs declared special dividends this week - DiamondRock, Host Hotels, and Farmland Partners - while seven REITs raised their ordinary dividends. Meanwhile, industrial REIT Prologis detailed a further push into the red-hot data center development space, while several REITs were impacted by S&P's quarterly index rebalance. 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

A Critical Cooldown Real Estate Weekly Outlook: https://lnkd.in/e6HmYUhX U.S. equity markets posted a mixed performance this week, while benchmark interest rates dipped to two-month lows after a critical slate of inflation data showed an encouraging cooldown in price pressures. As expected, the Fed held rates steady at two-decade highs of 5.50%, but the committee's "dot plots" showed that the FOMC is now penciling in just one rate-cut in 2024. Posting a series of record highs throughout the week, the S&P 500 advanced another 1.6% to extend its year-to-date total returns to over 15%, but the gains were notably top-heavy. Real estate equities - the single most "Fed-sensitive" market segment - were among the outperformed this week, however, as investors saw some light at the end of the tunnel amid a historical stretch of underperformance since the first Fed hike in March 2022. The recent rate retreat has revived some optimism back into the real estate sector, a welcome relief after a dismal two years of macro headwinds. Seven REITs raised their dividends this past week - the most hikes in any single week in over a year. REIT Academy & The Executive REIT Masterclass | The Daily REIT Beat Newsletter | Seeking Alpha | #REITs #Dividends #Investing #Income #Yield #RealEstate #Housing #Stocks #Bonds #HighYield #DividendInvesting #IncomeInvesting #Diversification #Inflation #realassets #investment

The Return Of Volatility Real Estate Weekly Outlook: https://lnkd.in/etXCg-_B In a highly volatile week across global financial markets, U.S. equity markets ultimately finished the week little-changed, while benchmark interest rates rebounded from the lowest levels of the year. Following a historic surge in volatility, stabilization in Asian and European markets, decent jobless claims data, and clarity on the domestic Presidential matchup helped to ease market jitters. Narrowly avoiding a fourth-straight week of losses, the S&P 500 finished flat - staging a late-week rebound after sharp declines early in the week. The Nasdaq remained in "correction territory." Initial Jobless Claims totaled 233k last week - below estimates of 240k and down from the upwardly revised 250k in the prior week. ISM's Services PMI was also stronger than expected, underscored by a rebound in the closely-watched employment index. Real estate equities were again among the better-performers this week as REIT earnings season wound down with a handful of solid reports, highlighted by continued strength in retail leasing activity and an encouraging rebound in office demand. REIT Academy & The Executive REIT Masterclass | The Daily REIT Beat Newsletter | Brad Thomas | Seeking Alpha | David Auerbach | #REITs #Dividends #Investing #Income #Yield #RealEstate #Housing #Stocks #Bonds #HighYield #DividendInvesting #IncomeInvesting #Diversification #Inflation #realassets

Weekly Outlook: A Summer to Remember https://lnkd.in/eeWrERtu U.S. equity markets climbed to record-highs while benchmark interest rates rebounded from eight-month lows on a relatively quiet end-of-summer week as investors parsed a 'Goldilocks' slate of economic data. PCE data showed modest inflationary pressures in July - keeping the Fed on course for multiple rate cuts by year-end - while consumer spending and consumer confidence data topped estimates. Posting gains for a fourth week following a three-week skid in late July, the S&P 500 gained another 0.3% this week. The Dow Jones finished the week at all-time record-highs. Real estate equities continued their recent outperformance this week on indications that the rate retreat will spark a revival across the long-floundering REIT sector. The Equity REIT Index advanced 0.4%. Billboard REIT Lamar Advertising rallied after it raised its dividend for the second time this year, hiking its payout by 8%. Signs of a revival of REIT "animal spirits" was a theme throughout the week, with notable acquisition and capital-raising activity from a handful of 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

An October Surprise? https://lnkd.in/eqtxrxeQ U.S. equity markets extended gains to a fourth-straight week despite a resurgence in benchmark interest rates after a critical slate of employment data showed surprisingly strong labor market trends. One of several strong employment reports, Nonfarm Payrolls data showed that the U.S. economy added 254k jobs in September - the strongest in six months and well above consensus estimates. Combined with a nearly 10% surge in crude oil prices driven by renewed Middle East tensions, markets reflected a significantly less aggressive Fed rate cut path in the months ahead. Real estate equities - the most rate-sensitive market segment - were the weakest of the 11 GICS equity sectors this week, pressured by the resurgence in benchmark interest rates. A pair of new REITs are born. Strip center REIT SITE Centers completed its spinoff of its triple-net leased properties into Curbline Properties. Meanwhile, FrontView REIT went public through a successful $251M IPO. 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

The September Swoon Real Estate Weekly Outlook: https://lnkd.in/eHFhBHdi U.S. equity markets posted their worst week since March 2023, while benchmark interest rates tumbled to eighteen-month lows after employment data indicated a further cooling in economic momentum. Among several disappointing reports, BLS Nonfarm Payrolls data showed that the U.S. economy added just 142k jobs in August, while prior months were again revised sharply lower. Snapping a four-week winning streak that lifted the major benchmark to the cusp of record highs, the S&P 500 tumbled 4.1% this week. Technology stocks dragged on the downside. Real estate equities - the laggards throughout the Fed's rate hiking cycle - continued their recent outperformance this week as interest rates continued their sharp retreat, sparking a revival of REIT activity. Two REITs hiked their dividends this week - VICI Properties and Phillips Edison - lifting the full-year total to 65. REITs were busy on the capital-raising front with more than $2B in total activity, taking advantage of the pullback in interest rates to bolster their balance sheet in anticipation of a potential wave of M&A activity in the final months of 2024. 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