iShares U.S. Real Estate ETF (IYR) - NYSEARCA
  • Apr. 20, 2015, 10:29 AM
    | Apr. 20, 2015, 10:29 AM
  • Apr. 17, 2015, 2:42 PM
    • There's not much working as today's selloff is an especially broad one, with even stalwart safety sectors like utilities (XLU -0.5%) and REITs (IYR -0.7%), (REM -0.2%) in the red - though outperforming the S&P 500's 1.5% decline.
    • Treasurys had spent most of the session lower as well following a stronger-than-expected inflation report, but yields have turned lower (prices higher) as the equity selloff intensified post-lunch. The 10-year Treasury yield is now off by four basis points to 1.85%. TLT +1.2%, TBT -2.4%
    | Apr. 17, 2015, 2:42 PM
  • Apr. 9, 2015, 3:24 PM
    • A weak 30-year bond auction has long-term Treasury yields on the move higher, with the 10-year up five basis points to 1.96%. One also can't help but notice a recent uptick in capital raising among the equity REITs.
    • Realty Income (O -2.2%), Agree Realty (ADC -2.2%), Omega Healthcare (OHI -4%), Medical Properties Trust (MPW -2.5%), W.P. Carey (WPC -2.2%), Duke Realty (DRE -2.5%), Essex Property (ESS -2.9%), Aimco (AIV -3%), Simon Property (SPG -2.4%), Kimco (KIM -2.9%), Inland Real Estate (IRC -3%), DDR Corp (DDR -2.3%), Sovran Self Storage (SSS -2.2%), Washington Real Estate (WRE -4%), Digital Realty Trust (DLR -2%), Hospitality Properties (HPT -2.6%), Ashford Hospitality (AHT -2.4%), Stag Industrial (STAG -4.6%), American Campus (ACC -2.3%).
    • ETFs: IYR, VNQ, DRN, URE, SRS, ICF, SCHH, RWR, KBWY, DRV, REK, FRI, FTY, PSR, WREI, FREL
    • Previously: Treasury yields on the rise after weak 30-year auction (April 9)
    | Apr. 9, 2015, 3:24 PM | 37 Comments
  • Apr. 7, 2015, 12:08 PM
    • The FTSE NAREIT All REITs Index had a total return of 4.05% in Q1, more than quadruple the S&P 500's 0.95% total return. The dividend yields of REITs remain nicely higher at quarter's end than the broader market, averaging 3.80% vs. the S&P 500's 2.02%.
    • Further, the compounded annual return of the All REITs Index has outperformed the S&P 500 over the past 1-, 5-, 10-, 20-, and 40-year periods.
    • Leading the way in Q1 were the self-storage REITs (PSA, SSS, CUBE, EXR) with a total return of 9.16%. Lagging the most after strong outperformance over the past two years were the lodging REITs, falling 4.42% on a total return basis.
    • The FTSE NAREIT Mortgage REITs Index delivered a total return of 2.35%, with a dividend yield of 10.56% on March 31.
    • The FTSE EPRA/NAREIT Global Real Estate Index had a total return of 4.04% in Q1, with a dividend yield of 3.21% on March 31.
    • ETFs: IYR, VNQ, WPS, VNQI, DRN, RWX, URE, SRS, ICF, SCHH, RWR, RWO, IFGL, KBWY, DRV, DRW, REK, FRI, GRI, FTY, FFR, RWXL, PSR, WREI, REET, FREL, SRET
    | Apr. 7, 2015, 12:08 PM | 1 Comment
  • Mar. 27, 2015, 4:11 PM
    | Mar. 27, 2015, 4:11 PM | 9 Comments
  • Mar. 27, 2015, 3:41 PM
    • Between 1994 and 2013, there have been nine distinct periods in the U.S. of rising interest rates (defined as the 10-year Treasury yield rising more than 100 basis points), says Franklin Real Asset Advisors' Wilson Magee (see chart here). During six of those periods REITs provided positive returns, and in three, negative.
    • In those three negative return occasions, REIT performance also fell shy of the broader market, and in two of those cases significantly so. Of the six positive return outcomes, REITs outperformed the S&P 500 twice.
    • Ultimately, says Magee, as long as rising interest rates reflect a healthy, growing economy (and rise gradually instead of spiking), it should be good for both stocks in general and REITs.
    • Source: Valuewalk
    • ETFs: IYR, VNQ, DRN, URE, SRS, ICF, SCHH, RWR, KBWY, DRV, REK, FRI, FTY, PSR, IFNA, WREI, FREL
    | Mar. 27, 2015, 3:41 PM | 2 Comments
  • Mar. 18, 2015, 3:28 PM
    • The Fed earlier cuts its forecasts for GDP growth, inflation, and the pace of rate hikes. Alongside, it also lowered NAIRU - the level at which unemployment threatens accelerating inflation.
    • The 10-year Treasury yield is lower by 13 basis points to 1.92% following the news, sending the board averages to near-1.5% gains, but the strongest names are the equity REITs.
    • IYR +2.3%
    • National Retail Properties (NNN +3%), Spirit Realty (SRC +3.1%), Senior Housing Properties (SNH +2.1%), Healthcare Trust of America (HTA +2.9%), Equity Commonwealth (EQC +2.7%), Gramercy Property (GPT +3.2%), Post Properties (PPS +3.9%), Aimco (AIV +2.6%), Kimco (KIM +2.8%), DDR Corp (DDR +2.4%), Public Storage (PSA +2%), Government Properties (GOV +1.9%), First Potomac Realty (FPO +3%), Digital Realty Trust (DLR +1.5%), Sunstone Hotel (SHO +2%), Liberty Property (LPT +2.4%), American Campus (ACC +2.5%)
    • Previously: Day's biggest news: Fed sharply cuts "normal" unemployment rate (March 18)
    • Previously: FOMC drops "patient," but sends dovish signal (March 18)
    • ETFs: IYR, VNQ, DRN, URE, SRS, ICF, SCHH, RWR, KBWY, DRV, REK, FRI, FTY, PSR, WREI, FREL
    | Mar. 18, 2015, 3:28 PM
  • Mar. 17, 2015, 8:48 AM
    | Mar. 17, 2015, 8:48 AM | 2 Comments
  • Mar. 16, 2015, 9:56 AM
    • The 10-year Treasury yield is lower by five basis points to 2.07% in early action as crude oil takes out new multi-year lows, industrial production falls for the third straight month, and capacity utilization declines to its lowest level in a year.
    • Outperforming the averages is the iShares U.S. Real Estate ETF (IYR +1.2%).
    • Among some individual players: Kimco (KIM +1.6%), Federal Realty (FRT +1.5%), Realty Income (O +1.3%), Omega Healthcare (OHI +1.3%), HCP (HCP +1.4%), Equity Residential (EQR +1.6%), General Growth Properties (GGP +1.4%), Public Storage (PSA +1%), Boston Properties (BXP +1.5%), Hospitality Properties (HPT +1.2%), Liberty Property Trust (LPT +0.8%), American Campus Communities (ACC +1.2%).
    • ETFs: IYR, VNQ, DRN, URE, SRS, ICF, SCHH, RWR, KBWY, DRV, REK, FRI, FTY, PSR, WREI, FREL
    | Mar. 16, 2015, 9:56 AM | 11 Comments
  • Mar. 13, 2015, 4:12 PM
    | Mar. 13, 2015, 4:12 PM
  • Mar. 10, 2015, 3:08 PM
    • With the averages having a tightening tantrum - the Dow down nearly 300 - money is cautiously flowing into some income plays, notably the REITs. The iShares U.S. Real Estate ETF (NYSEARCA:IYR) is flat on the session.
    • Among the larger caps: Simon Property (SPG +0.2%), General Growth (GGP +0.7%), Health Care REIT (HCN +0.9%), HCP (HCP +0.4%), Equity Residential (EQR +0.5%), AvalonBay (AVB +0.6%), Boston Properties (BXP +0.2%), American Capital Agency (AGNC +0.2%), Annaly Capital (NLY -0.8%)
    • ETFs: IYR, VNQ, DRN, URE, SRS, ICF, SCHH, RWR, KBWY, DRV, REK, FRI, FTY, PSR, WREI, FREL
    • Previously: Yields tumble alongside stocks (March 10)
    | Mar. 10, 2015, 3:08 PM | 7 Comments
  • Mar. 6, 2015, 10:31 AM
    • Equity REITs are facing some competition as the 10-year Treasury yield has popped all the way to 2.24% (up 11 bps on the session) following the strong jobs report which saw 295K jobs added in February and the unemployment rate dropping to 5.5%.
    • Checking short-term interest rate futures, they're falling (meaning higher rates), but still not pricing in a rate hike until late summer.
    • The iShares U.S. Real Estate ETF (IYR -2.3%).
    • Realty Income (O -3.7%), National Retail Properties (NNN -3.9%), Agree Realty (ADC -3.1%), Omega Heathcare (OHI -4.5%), Health Care REIT (HCN -3.5%), Ventas(VTR -3.7%), HCP (HCP -3.6%), Medical Properties (MPW -4%), Healthcare Trust (HTA -4%), AvalonBay (AVB -2.7%), Essex Property (ESS -2.3%), Simon Property (SPG -2.3%), General Growth (GGP -2.2%), Kimco (KIM -2.9%), Inland Real Estate (IRC -2.9%), DDR (DDR -2.7%), Federal Realty Investment (FRT -2.6%), Public Storage (PSA -2%), Sovran Self Storage (SSS -2.7%), Boston Properties (BXP -2.8%), First Potomac (FPO -3.2%), Digital Realty Trust (DLR -1.9%), Hospitality Properties (HT -2.1%), Ashford (AHT -2.7%), STAG Industrial (STAG -3%), American Campus (ACC -2.9%).
    • ETFs: IYR, VNQ, DRN, URE, SRS, ICF, SCHH, RWR, KBWY, DRV, REK, FRI, FTY, PSR, WREI, FREL
    • Previously: Dollar and Treasury yields spike after strong jobs print (March 6)
    | Mar. 6, 2015, 10:31 AM | 63 Comments
  • Feb. 24, 2015, 3:32 PM
    • The 10-year Treasury yield has tumbled back beneath 2% amid Janet Yellen's congressional testimony and some weak economic data, but there's no bid for income favorites like equity REITs.
    • The iShares DJ U.S. Real Estate ETF (IYR -1.9%).
    • Realty Income (O -2.9%), National Retail Properties (NNN -2.7%), Senior Housing Properties (SNH -2.2%), Ventas (VTR -3.8%), HCP (HCP -3.6%), Equity Commonwealth (EQC -2.3%), Vornado (VNO -1.9%), Equity Residential (EQR -2.5%), AvalonBay (AVB -2.7%), Simon Property (SPG -1.8%), General Growth (GGP -2.1%), Kimco (KIM -3%), Sovran Self Storage (SSS -2%), Boston Properties (BXP -2%), Hospitality Properties (HPT -2.7%), LaSalle Hotel (LHO -2.8%), Liberty Property Trust (LPT -2.7%), American Campus Communities (ACC -1.7%).
    • ETFs: IYR, VNQ, DRN, URE, SRS, ICF, SCHH, RWR, KBWY, DRV, REK, FRI, FTY, PSR, WREI
    | Feb. 24, 2015, 3:32 PM | 40 Comments
  • Feb. 6, 2015, 10:19 AM
    • Equity REITs have had as a big of a move as any sector over the past year as interest rates confounded the experts and continued to fall. WIth today's jobs report and a summer rate hike looking far more likely, fans of the income favorites are reassessing.
    • Realty Income (O -4.3%), National Retail Properties (NNN -3.9%), Omega Healthcare (OHI -3.5%), Ventas (VTR -4%), HCP (HCP -2.3%), Equity Residential (EQY -2%), Essex Property (ESS -2.1%), Simon Property (SPG -2.1%), General Growth (GGP -1.5%), Inland Real Estate (IRC -2.3%), Federal Realty (FRT -2.6%), Extra Space Storage (EXR -2.1%), Government Properties (GOV -1.8%), Washington Real Estate (WRE -2.1%), Hospitality Properties (HPT -1.8%), Chambers Street (CSG -1.5%), American Campus Communities (ACC -1.5%).
    • ETFs: IYR, VNQ, DRN, URE, SRS, ICF, SCHH, RWR, KBWY, DRV, REK, FRI, FTY, PSR, WREI
    | Feb. 6, 2015, 10:19 AM | 64 Comments
  • Feb. 5, 2015, 12:47 PM
    • Debuting today is the Fidelity MSCI Real Estate Index ETF (NYSEARCA:FREL), the 12th passively-managed ETF from that most famous of active managers.
    • Fidelity's original 10 ETFs launched in October 2013 hit $1B in AUM last June, a number which has since more than doubled.
    • Unofficially considered the 11th sector, REITs are about to become officially so as S&P Dow Jones and MSCI have announced plans to split off real estate from its financial services classification.
    • As with Fidelity's other sector ETFs, FREL has an annual expense ratio of 0.12% vs. 0.10% for Vanguard's (NYSEARCA:VNQ), the largest REIT ETF.
    • Other REIT ETFs of interest: IYR, VNQ, DRN, URE, SRS, ICF, SCHH, RWR, KBWY, DRV, REK, FRI, FTY, PSR, WREI
    | Feb. 5, 2015, 12:47 PM | 3 Comments
  • Jan. 21, 2015, 3:14 PM
    • Equity REITs had a nice run after bond yields peaked last year and began declining, but, says a now-cautious John Authers from the FT, that rally has turned into a stampede. And while the U.S. has led the way, U.K., European, and global REIT indexes have also had big gains.
    • Since October, the S&P 500 REITs index is up 19% vs. 1.4% for the S&P 500, and a 22.5% loss for the Alerian index of MLPs.
    • Valuation has now become a concern, with every REIT sector covered by SNL Securities trading at a premium to NAV (not the mortgage REITs though). Healthcare REITs - HCP, MPW, HTA, UHT, LTC, SBRA, OHI, HCN come to mind - are at a 25% premium.
    • SNL's Jason Lail dismissed some concerns, noting REITs trade at a 12.% premium to NAV, well within the 20% above and below NAV they typically range between. Also, fundamentals remain sound, with supply still constricted in many areas.
    • JPMorgan's Jason Ko notes pockets of value, particularly office REITs which trade a minimal premium. Boston Properties (BXP -0.1%) is a particular favorite. Others in the sector include: EQC, WRE, CSG, FPO, HIW.
    • Simon Property (SPG +0.2%) is Ko's biggest holding as mall bankruptcies and chain closings should leave the survivors stronger. His 2nd-largest holding is industrial player ProLogis (PLD +0.2%).
    • ETFs: IYR, VNQ, WPS, VNQI, DRN, RWX, URE, SRS, ICF, SCHH, RWR, RWO, IFGL, KBWY, DRV, DRW, REK, FRI, GRI, IFEU, FTY, FFR, RWXL, PSR, IFNA, WREI, REET
    | Jan. 21, 2015, 3:14 PM | 19 Comments
IYR Description
The iShares Dow Jones U.S. Real Estate Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, to the performance of the real estate sector of the U.S. equity market, as represented by the Dow Jones U.S. Real Estate Index.
See more details on sponsor's website
Country: United States
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