Ventas upgraded to long-term buy from neutral at Hilliard Lyons

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REIT sector is the S&P 500’s strongest as drop in Treasury yields gives a boost

The real estate investment trust (REIT) sector is the best performer of the S&P 500’s 11 sectors, as the high-yielding stocks continue to benefit from the recent decline in Treasury yields. The SPDR Real Estate Select Sector ETF rallied 2.1%, with all 33 equity components gaining ground. The REIT sector tracker has a payout yield of 3.39%, compared with the implied dividend yield of the S&P 500 of 1.98%. The 10-year Treasury yield has declined 12.4 basis points (0.124 percentage points) the past week, and was on track to close at a seven-week low. The XLRE has run up 3.7% amid a three-session win streak. Among the XLRE’s biggest gainers, shares of Welltower Inc. hiked up 3.7%, Ventas Inc. rallied 3.6%, Regency Centers Corp. gained 3.4%, Host Hotels & Resorts Inc. advanced 3.4% and Simon Property Group Inc. tacked on 3.4%. The XLRE has lost 5.3% over the past three months while the S&P 500 has slipped 2.6%.

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