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REITs And Utilities Dive As Yields Jump

Published Sat, 09 Nov 2019 12:51:35 -0500 on Seeking Alpha

Real Estate Weekly Outlook
Reports that the US and China may be finally nearing an agreement on the long-awaited "Phase 1" of a trade deal propelled US equity markets to new all-time record highs, but also sent US Treasury yields surging to the highest levels since late July, with the 10-year yield jumping 20 basis points to close at 1.93%. With earnings season winding down and on a slow week of economic data, back-and-forth trade headlines dictated near-term sentiment as investors shunned the long-outperforming defensive and yield-sensitive equity sectors in favor of this year's relative laggards including the more economically-sensitive energy, financials, and materials sectors.

(Co-Produced with Brad Thomas through iREIT on Alpha)
Waning worries on the trajectory of global economic growth sent the SPDR S&P 500 ETF (SPY) higher by 0.9% while the Nasdaq ETF (QQQ) gained 1.2%. Rates up, REITs down? The paradigm that bedeviled real estate investors for much of the past three years showed hints of an unwelcome return this week. The broad-based Real Estate ETF (VNQ) dipped 3.3%, delivering its worst week since December 2018 and giving up its YTD outperformance relative to the major equity indexes. After breaching record highs in late October, REITs are lower by an average of 5% despite concluding a generally better-than-expected earnings season with more than half of the sector boosting guidance.

The Hoya Capital US Housing Index, the benchmark that... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
GEO GROUP 18.35   14.1 1.30 1.92 10.56
CORECIVIC 18.06   12.0 1.51 1.76 9.83
MACERICH 33.33   43.9 0.76 3.00 8.91
TANGER FACTORY OUTLET CENTERS 16.50   21.4 0.77 1.42 8.35
SABRA HEALTHCARE REIT 22.49   204.4 0.11 1.80 8.28
OMEGA HEALTHCARE INVESTORS 41.16   32.4 1.27 2.64 6.57
TAUBMAN CENTERS 43.64   59.0 0.74 2.70 6.16
VEREIT 9.77   40.7 0.24 0.55 5.86
BRIXMOR PROPERTY GROUP 19.68   16.5 1.19 1.12 5.68
WEINGARTEN REALTY INV 28.14   15.3 1.84 1.58 5.62
KIMCO REALTY 20.39   25.5 0.80 1.12 5.57
SIMON PROPERTY GROUP 155.27   20.8 7.48 8.40 5.21
SPDR DOW JONES INTERNATIONAL REAL ESTATE ETF 38.88   0.0 0.00 1.92 4.93
STAG INDUSTRIAL 29.50   47.6 0.62 1.43 4.93
WP CAREY & CO 88.72   31.4 2.83 4.14 4.73
VENTAS 71.17   51.6 1.38 3.17 4.41
AMERICAN CAMPUS COMMUNITIES 47.29   78.8 0.60 1.88 4.05
LIFE STORAGE 103.91   23.2 4.47 4.00 3.87
LEGGETT PLATT 42.18   19.6 2.15 1.60 3.82
NATIONAL RETAIL PROPERTIES 54.39   35.8 1.52 2.06 3.81
REALTY INCOME 74.49   56.9 1.31 2.72 3.69
HEALTHCARE REALTY TRUST 33.37   133.5 0.25 1.20 3.68
CUBESMART 35.29   37.5 0.94 1.28 3.65
REGENCY CENTERS 69.07   40.2 1.72 2.34 3.43
DIGITAL REALTY 126.53   116.1 1.09 4.32 3.38
LIBERTY PROPERTY TRUST 51.36   16.1 3.19 1.64 3.21
PUBLIC STORAGE 249.58   29.8 8.38 8.00 3.20
MDC 40.27   12.4 3.24 1.20 3.13
EXTRA SPACE STORAGE 117.00   34.7 3.37 3.60 3.11
FEDERAL REALTY INVESTMENT TRUST 135.76   40.4 3.36 4.20 3.00
DUKE REALTY 32.39   49.8 0.65 0.86 2.66
ALEXANDRIA REAL ESTATE EQUITIES 153.38   44.2 3.47 4.00 2.64
PROLOGIS 84.04   31.2 2.69 2.12 2.55
CYRUSONE 74.17   0.0 -0.69 2.00 2.53
SUN COMMUNITIES 145.94   95.4 1.53 3.00 2.14
EQUITY LIFESTYLE PROPERTIES 132.21   44.7 2.96 2.45 1.90
SPDR S&P 500 ETF 301.29   0.0 0.00 5.42 1.82
AMERICAN TOWER 218.85   66.3 3.30 3.68 1.70
SIMPSON MANUFACTURING 68.48   25.6 2.67 0.92 1.38
DR HORTON 49.77   11.9 4.17 0.60 1.21
MASCO 43.19   17.8 2.43 0.48 1.13
POWERSHARES QQQ TRUST SERIES 1 193.23   0.0 0.00 1.49 0.78
LENNAR 54.58   9.4 5.83 0.16 0.30
ISHARES COHEN & STEERS REALTY MAJORS INDEX FUND 118.41   0.0 0.00 0.00 0.00
ISHARES FTSE NAREIT MORTG PLUS CAPPED INDEX FUND 41.97   0.0 0.00 0.00 0.00

GEO GROUP - GEO
GEO GROUP - GEO  


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