Summary- Real Estate stocks led U.S. equity markets to fresh record highs this week, shaking off coronavirus-related losses amid a frenetic slate of corporate earnings and M&A news.
- Adding on to its impressive 3.2% gains in the prior week, the S&P 500 finished higher by another 1.6% while the Dow Jones Industrial Average added nearly 300 points.
- REITs delivered their best week in more than a year, jumping 4.2% as earnings results continue to top estimates and the M&A animal spirits come alive.
- Cell Tower REITs surged more than 10% after Sprint and T-Mobile reached a merger deal. Meanwhile, Simon Property plans to buy Taubman Centers, further consolidating Class-A mall ownership.
- Residential REITs, homebuilders, and housing-related companies continue to lead the charge in 2020, delivering strong earnings this week as the U.S. housing market has come back to life.
Real Estate Weekly Outlook
The animal spirits are alive and well. A frenetic slate of corporate earnings and M&A news was exactly what the doctor ordered to restore harmony - and record highs - to the U.S. financial markets following a two-week panic over the coronavirus outbreak. While the global economic impact of the outbreak remains unclear - particularly...RSK: A good article on REITS and their performances. Who knew Cell Tower REITS would be up so high?
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- - Volume: 8 - WEEK: 9 Date: 2/25/2020 8:32:28 AM -