Prologis

American Tower

Equinix

Welltower

Digital Realty Trust

Simon Property Group

Public Storage

Realty Income Corp

Crown Castle International

CBRE Group

iShares U.S. Real Estate ETF

IYR tracks a market-cap-weighted index of US real estate equities.

American Healthcare REIT Inc

JPMorgan BetaBuilders MSCI US REIT ETF

CBL & Associates Properties

Direxion Daily Real Estate Bull 3x Shares

Direxion Daily Real Estate Bear 3x Shares

EastGroup Properties

Fidelity MSCI Real Estate ETF

First Trust S&P REIT Index Fund

Hudson Pacific Properties

iShares Cohen & Steers REIT ETF

Nuveen Real Estate Income Fund

Invesco KBW Premium Yield Equity REIT ETF

Neuberger Berman Real Estate Securities Income Fund Inc

OUTFRONT Media

Park Hotels & Resorts

US Diversified Real Estate ETF

Invesco Active US Real Estate

ALPS Active REIT ETF

ProShares Short Real Estate

Rexford Industrial Realty

Cohen And Steers Total Return Realty Fund

Cohen & Steers Reit And Preferred Income Fund Inc

Cohen & Steers Quality Income Realty Fund

SPDR Dow Jones REIT ETF

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.

Firming Inflation Fizzles Optimism

American Homes 4 Rent

Curbline Properties Corp.

Generation Income Properties

Global Net Lease

Invitation Homes

JBG SMITH Properties

Medical Properties Trust

Office Properties Income Trust

Paramount Group

Five US real estate investment trusts have suspended dividends so far this year, while six other REITs have lowered regular dividend payouts. The activity contrasts with the more than one-third of the US REIT industry that have raised dividends during the first three quarters of 2024. Shopping center landlord SITE Centers Corp. was the most recent addition to the list of REITs that suspended dividends this year.

5 U.S. REITs Suspend Dividends Amid 2024 Cuts

Dimensional US Real Estate ETF

Dimensional Global Real Estate ETF

Lennar

PotlatchDeltic

Schwab U.S. REIT ETF

iShares Core U.S. REIT ETF

Vanguard Real Estate ETF

Weyerhaeuser

Real Estate Select Sector SPDR Fund

Residential real estate supply is limited due to construction costs relative to NOI. In 2025 and 2026, housing will be increasingly undersupplied. The undersupply should drive up property revenues until such a point that development becomes viable.

An Inflection Point In Residential Real Estate

iShares Core Dividend Growth ETF

iShares Preferred and Income Securities ETF 

Schwab US Dividend Equity ETF

SPDR S&P Dividend ETF

Vanguard Dividend Appreciation ETF

Vanguard S&P 500 ETF

Vanguard High Dividend Yield ETF

Each ETF quickly invests you in a wide range of dividend-paying stocks -- and dividends are powerful wealth builders.

These 8 Index ETFs Are a Retiree's Best Friend

Community Healthcare Trust

CIM Commercial Trust

Diversified Healthcare Trust

Goldman Sachs Future Real Estate And Infrastructure Equity ETF

Pacer Benchmark Industrial Real Estate SCTR ETF

Iron Mountain

JPMorgan Realty Income ETF

Janus Henderson U.S. Real Estate ETF

NETLease Corporate Real Estate ETF

Nuveen Short-Term REIT ETF

Phillips Edison & Co Inc

REITs achieved their 5th straight month in the black with a +3.09% average total return in September and +9.61% year to date. Mid-cap (+5.01%), large cap (+3.41%) and small cap REITs (+2.59%) averaged solid gains in September. Micro caps (-0.42%) again averaged a negative total return. 72.3% of REIT securities had a positive total return in September.

The State Of REITs: October 2024 Edition

Agree Realty

Getty Realty

Independence Realty Trust

NETSTREIT Corp

RLJ Lodging Trust

Average REIT short interest fell 8 basis points in September to 3.7% of shares outstanding, per S&P Global Market Intelligence data. The hotel sector followed with a 60-basis point drop, while the office sector remained the most-shorted at 5.3% of shares outstanding. Wheeler Real Estate Investment Trust logged the largest increase in short interest, up 16 percentage points to 32.4% of shares outstanding.

U.S. REITs Log Dip In Short Interest In September

Arbor Realty Trust

AvalonBay Communities

First Industrial Realty Trust

Kite Realty Group

National Health Investors

Plymouth Industrial REIT

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 has prompted investors to re-think the prospects of aggressive Fed rate cuts.

Rate Cut Rethink

Seven Hills Realty Trust

ProShares UltraShort Real Estate

Pacer Funds Trust-Pacer Benchmark Data & Infrastructure Real Estate Sector ETF

ProShares Ultra Real Estate

Public REITs have benefited from a great rotation within equity markets since the end of June, with U.S. REITs returning 13.2% vs. S&P 500 3.7%. Clear evidence of a growth slowdown and moderating inflation has increased the market's conviction Fed rate cuts are imminent. REITs in sectors such as senior housing, single-family rental, cold warehouse storage, and wireless towers are a compelling opportunity with visible, defensive cash flows that offer attractive growth under a variety of economic outcomes.

Perspectives: Listed REITs - Fall Edition

Alpine Global Premier Properties Fund

Cambria Global Real Estate ETF

Xtrackers California Municipal Bond ETF

FlexShares Global Quality Real Estate Index Fund

Home Appreciation US REIT ETF

Xtrackers International Real Estate ETF

Hoya Capital Housing ETF

iShares International Developed Real Estate ETF

CBRE Global Real Estate Income Fund

IREIT - Marketvector Quality REIT Index ETF

iShares U.S. Home Construction ETF

VanEck Mortgage REIT Income ETF

Direxion Daily Homebuilders & Supplies Bull 3X Shares

InfraCap REIT Preferred ETF

For income-focused investors willing to venture outside the United States, Canadian REITs offer appealing qualities as a potential portfolio diversifier alongside their larger and more established U.S. peers. Canadian REITs, on average, offer higher monthly dividend yields and trade at lower P/FFO multiples compared to their U.S. counterparts, but typically have weaker balance sheets with higher debt ratios. In this report, we take a quick look at 30 Canadian REITs and break down the industry on a sector-by-sector level. We also take a deep dive into H&R REIT.

Canadian REITs: Higher Yield Up North

REITs have outperformed the broader market since early July, prompting a valuation check to ensure they haven't become overvalued. Using a bottom-up methodology, REITs trade at a market cap weighted AFFO multiple of 19.87X, cheaper than the S&P's 21.0X forward P/E. REITs offer higher revenue growth and profit margins compared to the S&P, positioning them for potential outperformance.

REITs Are Still Undervalued Despite Recent Outperformance

Global X Data Center & Digital Infrastructure ETF

Fidelity Real Estate Investment ETF

iShares Residential Real Estate ETF

Real Estate ETFs have been hovering around a 52-week high lately.

Real Estate ETFs Are Hitting 52-Week Highs Lately: Here's Why

Goldman Sachs Physical Gold ETF

Alexandria Real Estate Equities

Cal-Maine Foods

Chevron

Franklin Responsibly Sourced Gold ETF

SPDR Gold Trust

iShares Gold Trust

iShares U.S. Utilities ETF

Pilgrim's Pride

iShares 0-3 Month Treasury Bond ETF

ProShares Ultra Gold

Vanguard Utilities ETF

Essential Utilities

Utilities Select Sector SPDR Fund

I provide weekly economic insights and a buy list to help investors make informed decisions, emphasizing the importance of understanding economic cycles and political impacts. I analyze political proposals like Trump's tariffs and Harris's price controls, highlighting their potential negative economic effects and advocating for unbiased, clear-eyed economic views. Ray Dalio questions the funding for increased government spending, stressing the need for broad-based productivity and prosperity through education and equal opportunities.

My Top Investment In September As Rate Cuts And The Election Come Into Focus

Over 200 U.S. REITs and homebuilders have reported second-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. Of the 96 equity REITs that provide full-year FFO guidance, 57 (59%) raised their outlook, while 13 (14%) lowered - well above the historical second-quarter average "raise rate" of 40-45%.

The REIT Comeback: Earnings Recap

SPDR Portfolio S&P 500 High Dividend ETF

Dividends are powerful investments, ideally offering income that grows over time. Healthy and growing dividend payers will usually offer stock-price appreciation, too.

These 9 Dividend ETFs Are a Retiree's Best Friend

We're at the halfway point of another consequential real estate earnings season, with 75 of the roughly 150 equity REITs and 19 of 38 mortgage REITs now having reported results. Amid an otherwise underwhelming earnings season across the broader equity market, REIT earnings results thus far have been materially better than anticipated, providing an added tailwind to rate-related optimism. Of the 65 equity REITs that have provided full-year guidance for Funds from Operations ("FFO"), 44 (68%) have raised their full-year outlook, while just 6 (8%) have lowered their outlook.

REIT Earnings Halftime Report

Industrial Logistics Properties

iStar Inc

REITs are surging in value right now. Some REITs have a lot more upside potential than others. Here are three types of REITs that will soar.

3 REIT Types Poised To Soar

Avantis Real Estate ETF

VanEck Office and Commercial REIT ETF

Vanguard Global ex-U.S. Real Estate ETF

Real estate stocks have taken a hefty beating this year, with REITs having the sole distinction of being the lone S&P 500 group in the red for much of 2024 and only just turning positive last week.

Real Estate ETFs: Performance Perking Up

iShares Global Clean Energy ETF

KraneShares CSI China Internet ETF

iShares MSCI China ETF

AdvisorShares Pure US Cannabis ETF

 Invesco S&P SmallCap Consumer Discretionary ETF

Schwab U.S. Large-Cap Growth ETF

Roundhill Cannabis ETF

President Joe Biden ended his presidential campaign on Sunday and announced his endorsement of Vice President Kamala Harris as the Democratic nominee for president.

ETFs to Track If Harris Joins Presidential Race on Biden's Exit

Blackstone Group

Principal Real Estate Active Opportunities ETF

Columbia Research Enhanced Real Estate ETF

iShares Environmentally Aware Real Estate ETF

Innovative Industrial Properties

National Storage Affiliates Trust

The REIT sector continued to recover in June with a +1.12% average total return, but closed out the first half of the year in the red (-3.86%). Micro cap REITs (-3.79%) averaged a negative total return in June, but small caps (+1.01%), mid-caps (+2.29%) and large caps (+2.88%) finished in the black. 65.58% of REIT securities had a positive total return in June.

The State Of REITs: July 2024

Real estate earnings season kicks into gear this week, and over the next month, we'll hear results from 175 equity REITs, 40 mortgage REITs, and dozens of housing industry companies. The sector with perhaps the most to gain from Fed rate cuts, REITs enter earnings season with upside momentum after a dismal two-year stretch, including 50 percentage-points of market underperformance. Since the start of last earnings season in mid-April, the Equity REIT Index has gained 14.0%, outpacing the 12.8% gains from the S&P 500, led by small-caps and rate-sensitive REITs.

Earnings Preview: A REIT Revival?

Vanguard Mega Cap Value ETF

Invesco S&P SmallCap 600 Pure Value ETF

Financial Select Sector SPDR Fund

Wall Street is currently witnessing the "Great Rotation," with investors shunning hot technology stocks in favor of smaller companies and other sectors. ETFs, which were depressed this year, have started to gain momentum and hit new 52-week highs in the latest trading session.

5 ETFs Making the Most of the Great Market Rotation

Ashford Hospitality Trust

Bally's

Boston Properties

Equity LifeStyle Properties

Gaming and Leisure Properties

Gladstone Commercial

Healthcare Realty Trust Inc

Kilroy Realty

GRIFFIN RLTY TRUST INC

U.S. equity markets climbed to record highs, while benchmark interest rates dipped to four-month lows as investors rotated from high-flying growth stocks into beaten-down value names following a cooler-than-expected CPI report. Headline CPI declined 0.1% month-over-month, which dragged the annual increase to below 3% for the first time since March 2021, while CPI ex-Shelter is again below the Fed's 2% target. Combined with recent softness in employment data and relatively dovish Fed commentary, markets now see at least two Fed rate cuts this year, with September now viewed as a near-lock.

REITs Rip As Rates Retreat

Camden Property

REITs are the cheapest in over a decade. But their fundamentals have remained strong for the most part. We highlight two of our top picks to maximize profits in the recovery.

A Once-In-A-Decade Buying Opportunity In REITs: 2 Top Picks

To begin with, we are not major fans of ETFs of REITs, since REITs themselves are already asset portfolios and more layering is unnecessary and costly at 0.4% expense ratio. IYR is underperforming because of high costs of capital, and we think high or even higher costs of capital are the status quo for the foreseeable future. An adverse economic scenario could bring down costs of capital, which would be a net positive only for some of the REITs in IYR, with others being exposed on demand-side.

IYR: Cost Of Capital Only Comes Down In Adverse Economic Scenario

Virtus Real Asset Income ETF

Rate cuts have finally arrived, but why hasn't it benefitted REITs? What's needed to lift the REITs market. Why REITs are still struggling.

Why More Rate Cuts May Be Needed To Help Lift REITs

News for iShares U.S. Real Estate ETF ETF (IYR)