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July 3, 2019, 12:55 p.m. EDT

REIT stocks rally as high dividend yielders boosted by drop in Treasury yields

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By Tomi Kilgore

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 /zigman2/quotes/207325179/composite XLRE +0.08% hiked up 1.3%, to lead all of the S&P 500's /zigman2/quotes/210599714/realtime SPX +1.00% 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. /zigman2/quotes/201760234/composite HST +0.61% rose 1.3%, Weyerhaeuser Co. /zigman2/quotes/200438029/composite WY +0.22% gained 1.2%, Kimco Realty Corp. /zigman2/quotes/202836571/composite KIM -0.39% tacked on 0.9%, Ventas Inc. /zigman2/quotes/206376229/composite VTR -0.56% added 2.2% and American Tower REIT /zigman2/quotes/200890312/composite AMT -0.63% climbed 2.2%. Of the XLRE's highest yielders, Macerich Co.'s stock /zigman2/quotes/203054096/composite MAC -0.87% yields 9.03% and slipped 0.1% after gaining 2.4% on Tuesday; and Iron Mountain Inc. shares /zigman2/quotes/208929343/composite IRM +0.89% 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.

/zigman2/quotes/207325179/composite
US : U.S.: NYSE Arca
$ 39.32
+0.03 +0.08%
Volume: 3.09M
Oct. 15, 2019 4:10p
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/zigman2/quotes/210599714/realtime
US : S&P US
2,995.68
+29.53 +1.00%
Volume: 1.68B
Oct. 15, 2019 5:00p
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/zigman2/quotes/201760234/composite
US : U.S.: NYSE
$ 16.41
+0.10 +0.61%
Volume: 4.84M
Oct. 15, 2019 4:10p
P/E Ratio
11.08
Dividend Yield
4.88%
Market Cap
$11.90 billion
Rev. per Employee
$30.02M
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/zigman2/quotes/200438029/composite
US : U.S.: NYSE
$ 27.23
+0.06 +0.22%
Volume: 2.14M
Oct. 15, 2019 4:10p
P/E Ratio
6,189
Dividend Yield
4.99%
Market Cap
$20.24 billion
Rev. per Employee
$803,871
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/zigman2/quotes/202836571/composite
US : U.S.: NYSE
$ 20.69
-0.08 -0.39%
Volume: 2.98M
Oct. 15, 2019 4:10p
P/E Ratio
28.13
Dividend Yield
5.41%
Market Cap
$8.77 billion
Rev. per Employee
$2.16M
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/zigman2/quotes/206376229/composite
US : U.S.: NYSE
$ 72.24
-0.41 -0.56%
Volume: 1.80M
Oct. 15, 2019 4:10p
P/E Ratio
52.29
Dividend Yield
4.39%
Market Cap
$27.07 billion
Rev. per Employee
$7.49M
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/zigman2/quotes/200890312/composite
US : U.S.: NYSE
$ 224.21
-1.43 -0.63%
Volume: 1.00M
Oct. 15, 2019 4:10p
P/E Ratio
67.94
Dividend Yield
1.61%
Market Cap
$99.89 billion
Rev. per Employee
$1.48M
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/zigman2/quotes/203054096/composite
US : U.S.: NYSE
$ 27.39
-0.24 -0.87%
Volume: 2.24M
Oct. 15, 2019 4:10p
P/E Ratio
36.69
Dividend Yield
10.95%
Market Cap
$3.90 billion
Rev. per Employee
$1.33M
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/zigman2/quotes/208929343/composite
US : U.S.: NYSE
$ 32.79
+0.29 +0.89%
Volume: 1.24M
Oct. 15, 2019 4:10p
P/E Ratio
32.26
Dividend Yield
7.45%
Market Cap
$9.33 billion
Rev. per Employee
$150,383
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