2023-04-23 09:00:00 ET
Summary
- U.S. equity markets finished mixed this week as investors weighed a solid start to earnings season against a mixed slate of economic data and a drumbeat of hawkish Fed commentary.
- Real estate equities were among the leaders this week, buoyed by signs of stability in commercial real estate lending markets and data indicating a Spring revival across residential markets.
- D.R. Horton - the nation's largest single-family homebuilder - surged more than 8% on the week after topping earnings and revenue expectations and providing strong full-year 2023 guidance.
- A trio of "beat and raise" reports from industrial REITs - Prologis, Rexford, and First Industrial - showed that demand for well-located logistics space continues to significantly outstrip supply.
- Results from a pair of office REITs this week showed that conditions for well-capitalized public REITs aren't nearly as dire as conditions faced by their more-highly-levered private market peers.
For further details see:
Housing Recession Is Over