|Bid||0.00 x 42300|
|Ask||0.00 x 21500|
|Day's Range||37.58 - 37.91|
|52 Week Range||29.52 - 38.62|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||0.55|
|Expense Ratio (net)||0.13%|
Fed chair Jay Powell testified before congress, fueling optimism that the central bank will cut rates later this month. Yahoo Finance's Seana Smith and Brian Cheung, Wells Fargo Global Economist Jay Bryson, and Chair of Monetary Policy at the Mercatus Center Scott Sumner discuss.
'PodShare' is addressing the housing crisis facing cities like Los Angeles and San Francisco by selling customers beds in a communal home for $1,200 per month. Yahoo Finance's Seana Smith and PodShare CEO Elvina Beck discuss.
Federal Reserve Chair Jerome Powell is set to testify before lawmakers starting tomorrow. This as White House Economic Advisor Larry Kudlow addressed concerns over Powell's job security. Yahoo Finance's Seana Smith and Brian Cheung discuss.
Fed Chair Jay Powell is heading to Capitol Hill. Investors are watching as he is set to testify before the House Financial Services Committee and Senate Banking Committee this week. Yahoo Finance's Seana Smith and RDQ Economics Chief Economist John Ryding discuss.
More Americans are signing contracts to purchase homes in May compared to April. Pending home sales rose 1.1% last month. Yahoo Finance's Zack Guzman & Kristin Myers discuss with entrepreneur and real estate investor Grant Cardone.
The Federal Reserve will leave rates unchanged but has removed its 'patience' in monetary policy. Yahoo Finance's Brian Cheung breaks it down.
The S&P CoreLogic Case-Shiller Index weakened yet again in March for the 12th month in a row, showing an increase of 3.7% down from 3.9% in February. Realtor.com Chief Economist Danielle Hale and Zillow Director of Economic Research
Shares of real estate investment trust are selling off in unanimous fashion, as the better-than-expected June jobs data has fueled in a big jump in Treasury yields. The SPDR Real Estate Select Sector ETF shed 1.0% in midday trading, with all 32 of its equity components losing ground. The REIT ETF (XLRE) tends to act as a bond proxy given its relatively high dividend yield, which means it becomes less attractive to investors when bond prices fall and bond yields rise. The 10-year Treasury yield jumps 10.2 basis points to 2.055% after closing Wednesday at the lowest yield since November 2016. The XLRE's yield is 3.26%, compared with the implied yield for the S&P 500 of 1.93%. Among the XLRE's most-active components, shares of Host Hotels & Resorts Inc. declined 0.8%, Weyerhaeuser Co. lost 1.3%, HCP Inc. dropped 1.5% and Kimco Realty Co. slipped 0.5%. Of the XLRE's highest yielders, shares of Macerich Co. fell 0.4% and yields 9.05%, while Iron Mountain Inc. slid 1.7% and yields 7.78%.
With the S&P 500 and Dow at all-time highs, it's been a great year for every stock market sector, and margin debt levels have room to grow.
Shares of real estate investment trusts rallied Wednesday, as the drop in the 10-year Treasury note yield to a 2 1/2-year low helped make high dividend yielders more attractive. The SPDR Real Estate Select Sector ETF hiked up 1.3%, to lead all of the S&P 500's 11 sectors higher. Of the REIT ETF's (XLRE) 32 components, 31 traded higher. Among the XLRE's more-active components, shares of Host Hotels & Resorts Inc. rose 1.3%, Weyerhaeuser Co. gained 1.2%, Kimco Realty Corp. tacked on 0.9%, Ventas Inc. added 2.2% and American Tower REIT climbed 2.2%. Of the XLRE's highest yielders, Macerich Co.'s stock yields 9.03% and slipped 0.1% after gaining 2.4% on Tuesday; and Iron Mountain Inc. shares gained 0.9% and yields 7.68%, after surging 2.9% on Tuesday. The XLRE's implied dividend yield is 3.24%, compared with the S&P 500's yield of 1.92%. The yield on the 10-year Treasury note fell 2.4 basis points to 1.952%, on track for the lowest close since November 2016.
With the strength of the labor market faltering, market participants expect the Federal Reserve to take a dovish stance on interest rates. What does this mean for REITs?
The real estate investment trust sector is the best performer of the S&P 500's 11 key sectors in morning trading Tuesday, as a drop in Treasury yields is helping the high-yielding sector attract buyers. The SPDR Real Estate Select Sector ETF surged 1.3% with 31 of 32 components gaining ground. The ETF's (XLRE) dividend yield is currently 3.30%, compared with the implied yield for the S&P 500 of 1.94% and the yield on the 10-year Treasury note, which is down 2.4 basis points in morning trading, of 2.01%. The XLRE's biggest gainer is HCP Inc.'s stock which rallied 2.3%; the REIT, which invests primarily in health care assets, has a dividend yield of 4.58%. The XLRE's highest yielder is Macerich Co.'s stock , which has a yield of 9.09% and is rallying 1.8%. Among other more-active components, shares of Host Hotels & Resorts Inc. rose 0.7% and yields 4.37%, Ventas Inc. gained 0.8% and yields 4.63% and Iron Mountain Inc. tacked on 1.9% and yields 7.80%. The XLRE has rallied 20.0% year to date, while the S&P 500 has advanced 18.3%.
The real estate investment trust and utilities sectors were the biggest losers of the S&P 500's 11 key sectors, and their weakness was unanimous, as a big jump in Treasury yields helped lure investors away from the high-yielding sector. The SPDR Real Estate Select Sector ETF slumped 2.1% with all 32 of its equity components losing ground and SPDR Utilities Select Sector ETF shed 2.0% with all 28 components declining. REITs are utilities are often seen as bond proxies, given their high yields, while the S&P 500 eased 0.1%. The REIT ETF's dividend yield was 3.38% and the utilities ETF's yield was 3.11%, compared with the implied yield for the S&P 500 of 1.98%, according to FactSet. Meanwhile, Treasury prices fell, to push the yield on the 10-year Treasury note up 5.1 basis points to 2.045%, after Treasury Secretary Steven Mnuchin raised hopes that a U.S.-China trade deal was near.
Real estate investment trusts and sector-related exchange traded funds have been a standout segment of the U.S. markets this year as falling interest rates and bets on the future of e-commerce helped prop ...
The real estate investment trust (REIT) sector rallied again toward a record high in midday trading Monday, boosted by a rally in 10-year Treasurys that pushed the yield down toward a near 2-year low. The SPDR Real Estate Select Sector ETF climbed 0.6%, as 27 of 32 components gained ground, and as 12 components reached 52-week highs, to put it on track for a 4th-straight record close. Among the more-active components, shares of Ventas Inc. climbed 1.8%, Kimco Realty Corp. rose 1.7%, HCP Inc. gained 0.9% and Host Hotels & Resorts Inc. hiked up 0.9%, while Weyerhaeuser Co. fell 0.6%. The REIT sector is often viewed as a defensive bond proxy given its relatively high dividend yield, so disappointing data that pushed Treasury yields lower can attract investors. On Monday, disappointing manufacturing and home builder sentiment data knocked the 10-year Treasury yield down 1.3 basis points to 2.080%, or well below the REIT ETF's dividend yield of 3.14%. The ETF has now rallied 7.0% over the past three months while the Dow Jones Industrial Average , which has an implied dividend yield of 2.07%, has gained 1.1%.
Priam Properties Inc. set terms Monday for its initial public offering, in which the Nashville-based real estate investment trust expects to raise up to $180 million and be valued at about $233.51 million. The newly formed REIT, which is focused on acquiring and owning multi-tenant office urban properties in the Midwest and Southeast, with a particular focus on millennials, is offering 9 million shares, with the IPO expected to price between $18 and $20 a share. The stock is expected to list on the New York Stock Exchange under the ticker symbol "PRMI." If the underwriters, BofA Merrill Lynch, Baird and RBC Capital Markets, exercise all options to buy up to 1.35 million additional shares, Priam could raise up to $207 million. After the IPO, the company will have 11.68 million shares outstanding. The company is looking to go public at a time that Renaissance IPO ETF has gained 2.3% over the past three months, while the SPDR Real Estate Select Sector ETF has tacked on 6.4% and the S&P 500 has advanced 2.3%.
ETFs tracking three of the S&P 500's 11 sectors are headed for record closes Friday, but before investors see that as a bullish sign they should note two are for sectors used as bond proxies and the other is a defensive sector. The SPDR Real Estate Select Sector ETF rose 0.4% toward a third-straight record close; the SPDR Utilities Select Sector ETF rallied 1.1%, to top the previous record reached on June 6; and the SPDR Consumer Staples Select Sector ETF edged up 0.2% toward a seventh-straight record. Many use the REIT and utilities ETFs as bond proxies given their relatively high yields, with the REIT ETF yielding 3.16% and the utilities ETF yielding 2.97%, versus the S&P 500's implied yield of 1.99%. The 10-year Treasury note has been rallying, and yields have been falling, as investors believe the Federal Reserve's next move on interest rates will be a cut amid concerns that the economy is a slowing. That concern is also helping the consumer staple sector, which is seen as defensive as it includes companies that sell products consumer need rather than want.
MGM Growth Properties LLC raised its quarterly dividend by 5%, to 46.75 cents a share from 44.5 cents a share. The real estate investment trust's new dividend will be payable July 15 to shareholders of record on June 28. Based on Thursday's stock closing price of $31.32, the new annual dividend rate would be 5.97%, which is above the yield for the SPDR Real Estate Select Sector ETF of 3.17% and above the S&P 500's implied yield of 1.99%, according to FactSet. MGM Growth's stock, which was still inactive in premarket trading, has gained 3.0% over the past 12 months, while the REIT ETF has rallied 18% and the S&P 500 has advanced 3.9%.
In the latest equity market rebound, safer sector-specific ETFs stood out, reflecting a shift in attitude as investors look for more defensive plays in a time of lingering uncertainties. For example, investors may be looking into sector-specific plays like the Utilities Select Sector SPDR (XLU) , Consumer Staples Select SPDR (NYSEArca: XLP) and Real Estate Select Sector SPDR Fund (XLRE) . The utilities, consumer staples and real estate sectors of the S& 500 have been outperforming the broader market, with at least 69% of companies in each of those groups trading above their 50-day moving average, the Wall Street Journal reports.
Real estate investment trusts and sector-related ETFs could be an area for investors to look to as the U.S.-China trade tiff grips the markets. REITs are comprised of companies that own office towers, ...
Sectors and exchange traded funds focusing on the domestic economy could benefit investors amid international headline risk. Even better if those funds offer solid income streams and above-average dividend ...
LendingTree Chief Economist Tendayi Kapfidze talked to Yahoo Finance On the Move about the latest housing starts results.