Homebuilders, REITs weigh on broader markets

|About: Beazer Homes USA, Inc. (BZH)|By:, SA News Editor

Two days and two disappointing real estate reports--on Friday, when markets were closed, March housing starts unexpectedly declined and on Monday existing home sales fell more than expected.

That sparked a decline in homebuilder stocks. And REITs also fell sharply, contributing to the underperformance of the the real-estate sector, down 1.8%.

iShares U.S. Home Construction ETF (NYSE:ITBslips 0.6% and iShares Core U.S. REIT ETF (NYSEARCA:USRTsinks 2.1%.

Among homebuilders, D.R. Horton (NYSE:DHI) falls 1.3% after KBW cut the stock to market perform.

Other homebuilders sliding include: KB Home (KBH -1.7%), Toll Brothers (TOL -1.7%), Beazer Homes (BZH -2.9%), Hovnanian (HOV -1.7%).

For REITs, some of the biggest losers are: Health-care REIT HCP (HCP -2.7%), triple-net REIT National Retail Properties (NNN -2%),  Senior Housing Properties (SNH -2.8%), mall REIT Tanger Factory Outlet Centers (SKT -3.2%),  shopping center REIT CBL (CBL -7.6%), industrial REIT Stag Industrial (STAG -2.1%),  office REIT Easterly Government Properties (DEA -2%), sale/leaseback REIT Global Net Lease (GNL -0.9%), hotel REIT Chatham Lodging Trust (CLDT -2.5%), and apartment REIT Independence Realty Trust (IRT -2%).

Previously: Existing home sales fall more than estimated (April 22)

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