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0 0.000353832000566212 0 0.00293680560469883 0.0076781544122851 0.00884580001415328 0.00842120161347391 0.00842120161347391
Stock impact report

Traders Flee Real Estate Stocks as Hot Inflation Darkens Outlook [BNN Bloomberg (Canada)]

Extra Space Storage Inc (EXR) 
Last extra space storage inc earnings: 2/18 04:05 pm Check Earnings Report
US:NYSE Investor Relations: ir.extraspace.com/investor-relations
Company Research Source: BNN Bloomberg
An index of real estate shares lost more than 4% Wednesday, putting the gauge on track for its worst day since mid-2022. The industry is the weakest group in the S&P 500 Index on the day, as well as for the month of April. Utilities also took a beating Wednesday as the report on consumer prices led traders to anticipate fewer Federal Reserve interest-rate cuts this year, a serious headwind for sectors so tied to borrowing costs. “Absent a geopolitical shock, utilities and real estate stocks may be in a holding pattern after today's drawdown,” said Joe Gilbert, portfolio manager at Integrity Asset Management LLC. Losses in real estate were largely led by commercial real estate companies. Real estate investment trusts Extra Space Storage Inc. and SBA Communications were the biggest drags on the sector by percentage. Regional bank shares also tumbled, led by Valley National Bancorp, New York Community Bancorp and Provident Financial Services. Meanwhile, a gauge of utilities shares Show less Read more
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