Hoya Capital High Dividend Yield ETF (ARCA: RIET)

Latest news for Hoya Capital High Dividend Yield ETF (ARCA:RIET)

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The Fund uses a passive management or indexing investment approach to track the performance, before fees and expenses, of the Index. The Index was established on May 1, 2021 by Hoya Capital Index Innovations, LLC, the Funds index provider (the Index Provider), and is a rules-based index that is designed to provide diversified exposure to 100 U.S.-listed real estate-related securities that collectively provide income through high dividend yields.

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This week marks the beginning of the real estate earnings season, featuring reports from 175 equity REITs, 40 mortgage REITs, and several housing industry firms, per Hoya Capital. After a challenging two-year period (including 50 percentage points of market underperformance), REITs are poised for potential gains following recent Federal Reserve rate cuts.

What Lies Ahead of REIT ETFs This Earnings Season?

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Hoya Capital Real Estate is launching a brand new high-yield real estate investment trust ETF. The Hoya Capital High Dividend Yield ETF (NYSE: RIET) began trading Wednesday and provides investors with diversified exposure to roughly 100 of the highest yielding REITs in the market.

Hoya Capital Launches High Yield REIT ETF

RIETER HLDG AG UNSP/ADR by Rieter Holding AG

Rieter Holding AG

Truist Securities analyst Mark Hughes maintains Arthur J. Gallagher (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AJG#NYSE">AJG</a>) with a Hold and raises the price target from $275 to $290.

Price Target

Truist Securities Maintains Hold on Arthur J. Gallagher, Raises Price Target to $290

Cantor Fitzgerald analyst Thomas Blakey maintains Dynatrace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DT#NYSE">DT</a>) with a Neutral and lowers the price target from $58 to $57.

Cantor Fitzgerald Maintains Neutral on Dynatrace, Lowers Price Target to $57

WIIM

CFLT

Confluent shares are trading higher after Guggenhiem raised its price target on the stock from $32 to $35.

FRME

First Merchants shares are trading higher after Piper Sandler raised its price target on the stock from $52 to $55.

Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) stock originally traded higher on Friday but has since reversed and began trading lower after the company on Thursday reported 2024 fiscal-year <a href="https://www.benzinga.com//node/43354712">fourth-quarter earnings</a>.
 Intel reported sales of $14.30 billion, beating analysts estimate of $13.81 billion, but representing a 7% year-over-year decline. In addition, it reported adjusted earnings per share of 13 cents, beating analysts estimate of 12 cents.
&#8220;Our renewed focus on strengthening and simplifying our product portfolio, combined with continued progress on our process roadmap, is positioning us to better serve the needs of our customers. Dave and I are taking actions to enhance our competitive position and create shareholder value,&#8221; said Michelle Johnston Holthaus, interim co-CEO of Intel and CEO of Intel Products. 
Intel announced guidance for the 2025 fiscal-year first-quarter. It sees revenue between $11.7 billion and $12.7 billion, versus analysts estimate of $12.87 billion. Intel guided Non-GAAP earnings per share of $0, versus analysts estimate of 9 cents.
&#8220;Our&nbsp;Q1&nbsp;outlook&nbsp;reflects seasonal weakness magnified by macro uncertainties, further inventory digestion and competitive dynamics. We will remain highly focused on execution to build on our progress and unlock value,&#8221; said David Zinsner, interim co-CEO and CFO of Intel.
Analyst Changes: Following the earnings report, several analysts issued price target adjustments.
<ul>
<li>Roth MKM analyst Suji Desilva maintained a Neutral rating on Intel and lowered the price target from&nbsp;$25&nbsp;to&nbsp;$20.</li>
<li>Needham analyst Quinn Bolton reiterated a Hold rating on Intel.</li>
<li>Benchmark analyst Cody Acree reiterated a Hold rating on Intel.</li>
</ul>
Related Link: <a href="https://www.benzinga.com/insights/earnings/25/01/43391688/earnings-breakdown-orrstown-finl-servs-q4">Earnings Breakdown: Orrstown Finl Servs Q4</a>
INTC Price Action: At the time of writing, Intel shares are moving 1.04% lower at $19.80, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: via Shutterstock.

Movers

INTC

What's Going On With Intel Shares Friday?

AESI

Atlas Energy Solutions shares are trading lower after the company announced a $264.5 million public offering.

Cantor Fitzgerald analyst Sarah James maintains Cigna (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>) with a Overweight and lowers the price target from $400 to $350.

Cantor Fitzgerald Maintains Overweight on Cigna, Lowers Price Target to $350

Adtalem Global Education Inc. Common Stock

ATGE

Adtalem Global Education shares are trading higher after the company raised its FY25 guidance.

Piper Sandler analyst Adam Maeder maintains ResMed (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMD#NYSE">RMD</a>) with a Neutral and raises the price target from $252 to $260.

Piper Sandler Maintains Neutral on ResMed, Raises Price Target to $260

Wells Fargo analyst Michael Turrin maintains Atlassian (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>) with a Overweight and raises the price target from $350 to $375.

TEAM

Wells Fargo Maintains Overweight on Atlassian, Raises Price Target to $375

Flagstar Financial shares are trading higher after Barclays raised its price target on the stock from $13 to $14.

Phillips 66&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>) shares are trading lower on Friday after it&nbsp;reported<a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/b43380949/phillips-66-reports-fourth-quarter-results-and-announces-next-phase-of-strategic-initiatives" rel="noreferrer noopener">&nbsp;fourth-quarter&nbsp;FY24 results</a>.
Midstream segment adjusted pre-tax income rose to $708 million, vs.&nbsp;$672 million&nbsp;in the&nbsp;third quarter&nbsp;of FY24, led by increased NGL margins and volumes.
The Chemicals segment adjusted pre-tax income&nbsp;stood at&nbsp;$72 million&nbsp;versus&nbsp;$342 million&nbsp;in the prior quarter, owing to a decline in margins along with higher turnaround and maintenance costs.
The Refining segment adjusted pre-tax loss improved to $(759)&nbsp;million from $(67) million&nbsp;in the prior quarter due to lower realized margins on reduction in market crack spreads and higher depreciation related to the planned stoppage of operations at the Los Angeles Refinery.
The company reported refining operations with&nbsp;94%&nbsp;crude capacity utilization and&nbsp;88%&nbsp;clean product yield.
The Marketing&nbsp;and Specialties segment adjusted pre-tax income fell significantly to&nbsp;$185 million&nbsp;from&nbsp;$583 million in the prior&nbsp;quarter on seasonally lower margins.
Adjusted EPS of&nbsp;$(0.15) topped&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">the consensus of&nbsp;$(0.23)</a>.
Phillips 66 reported operating cash flow, excluding working capital impacts, of&nbsp;$901 million in the quarter.
As of Dec. 31, the company reported cash and cash equivalents of $1.7 billion, along with $4.6 billion in committed credit facility capacity.
The company has returned $5.3 billion to shareholders through dividends and share repurchases in 2024
Phillips 66 achieved&nbsp;$1.5 billion in run-rate business transformation savings and synergy capture of $500 million from successful DCP integration.
Strategic Priorities Update: The company plans to return greater than 50% of operating cash flow to shareholders.
Also, Phillips 66 aims to achieve a 2% higher than the industry-average crude utilization and annual adjusted controllable costs of $5.50 per barrel in refining, excluding adjusted turnaround expenses.
The company targets growing Midstream and Chemicals mid-cycle adjusted EBITDA of $1 billion in total by 2027 and<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener"> reducing total debt to $17 billion</a>.
Mark Lashier, chairman and CEO said, "In support of our Midstream wellhead-to-market strategy, we recently announced an agreement to acquire EPIC's NGL business, bolstering our Permian and Gulf Coast footprint,"  
"Upon closing, these assets will be accretive to earnings and highly integrated with our existing infrastructure, providing additional opportunities to enhance returns and shareholder value," he added.
Investors can gain exposure to the stock via&nbsp;IShares U.S. Oil &amp; Gas Exploration &amp; Production ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/IEO#BATS">IEO</a>) and&nbsp;VanEck Oil Refiners ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRAK#NYSE">CRAK</a>).
Price Action: PSX shares are down 2% at $118.33 at the last check Friday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com//node/43382627" target="_blank" rel="noreferrer noopener">Chevron&nbsp;Q4&nbsp;Earnings: Profits Decline Amid Lower Oil Output, Dividend Hike Offers Silver Lining</a></li>
</ul>
Photo: Shutterstock

Equities

Large Cap

Guidance

CRAK

iShares Dow Jones US Oil & Gas Exploration & Production Index Fund

Phillips 66 Stock Under Pressure As Refining Losses Offset Midstream Gains

Cantor Fitzgerald analyst Olivia Brayer reiterates Vertex Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) with a Overweight and maintains $480 price target.

Reiteration

VRTX

Cantor Fitzgerald Reiterates Overweight on Vertex Pharmaceuticals, Maintains $480 Price Target

PFSI

PennyMac Financial shares are trading lower after Piper Sandler cut its price target on the stock from $132 to $130.

Piper Sandler analyst Joseph Catanzaro maintains Iovance Biotherapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IOVA#NASDAQ">IOVA</a>) with a Neutral and lowers the price target from $10 to $7.5.

IOVA

Piper Sandler Maintains Neutral on Iovance Biotherapeutics, Lowers Price Target to $7.5

TFSL

TFS Financial shares are trading higher after the company reported Q1 financial results and beat EPS estimates.

Wells Fargo analyst Aaron Rakers maintains Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) with a Equal-Weight and lowers the price target from $28 to $25.

Wells Fargo Maintains Equal-Weight on Intel, Lowers Price Target to $25

TBBK

Bancorp shares are trading higher after the company reported Q4 financial results and beat EPS estimates.

Cantor Fitzgerald analyst Matthew Prisco reiterates Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) with a Neutral and maintains $22 price target.

Cantor Fitzgerald Reiterates Neutral on Intel, Maintains $22 Price Target

LyondellBasell Industries N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYB#NYSE">LYB</a>) shares are higher after the company reported <a href="https://www.benzinga.com/pressreleases/25/01/g43380319/lyondellbasell-reports-2024-earnings" target="_blank" rel="noreferrer noopener">better-than-expected fourth-quarter 2024 results</a>.
LyondellBasell reported revenues of $9.497 billion, down 4.4% year-over-year and above the consensus of $9.225 billion. Adjusted EPS was at $0.75, which is in-line with the consensus.
Adjusted EBITDA stood at 689 million (-24.3% Y/Y), and the margin contracted 191 bps to 7.2%.
Fourth quarter margins declined as higher NGL and gas costs outpaced product prices, while seasonal demand slowed domestic and global markets.
Strong polyethylene exports helped offset some declines, but weaker gasoline crack spreads and European downtime further pressured margins.
LyondellBasell generated a $3.80 billion operating cash flow in 2024, with 90% cash conversion over 12 months.
Operating cash flow supported $1.8 billion in capital spending and $1.9 billion in shareholder returns through dividends and stock buybacks. As of December end, the company had an investment-grade balance sheet with $8.0 billion in liquidity, including $3.4 billion in cash.
&#8220;The volumes of our sustainable products are rapidly growing and aligned with our profitability targets. We are sharpening our focus on value creation while diligently managing and tracking our progress through a highly disciplined Value Enhancement Program. With a robust investment-grade balance sheet, LYB is well-positioned to deliver on our strategic promises and reward shareholders with a growing dividend as part of our overall value proposition,&#8221; commented LyondellBasell CEO Peter Vanacker.
LyondellBasell targets $3 billion in incremental Normalized EBITDA by 2027, unlocking $1.3 billion by 2024. Further gains are expected from ongoing growth initiatives in 2025.
Despite market headwinds, LyondellBasell remains well-positioned, focusing on cost-advantaged feedstocks, financial strength, and sustained shareholder returns while driving future profitability.
2025 Outlook: LyondellBasell anticipates seasonal demand improvements in the first quarter of 2025, supported by lower interest rates, moderate inflation, and rising durable goods consumption.
The company aligns operations with global demand, expecting Olefins &amp; Polyolefins Americas at 80%, EAI at 75% and Intermediates &amp; Derivatives at 80%.
LYB Price Action: LyondellBasell shares traded higher by 0.24% at $76.30 at publication Friday.
Read Next: • <a href="https://www.benzinga.com/25/01/43382627/chevron-falls-as-q4-profits-decline-amid-lower-oil-output-dividend-hike-offers-silver-lining">Chevron Q4 Earnings: Profits Decline Amid Lower Oil Output, Dividend Hike Offers Silver Lining</a>

Photo: Courtesy LyondellBassell

LyondellBasell Tops Q4 Revenue Estimates, Eyes Growth In 2025 Despite Market Headwinds

This week marks the beginning of the real estate earnings season, featuring reports from 175 equity REITs, 40 mortgage REITs, and several housing industry firms, per Hoya Capital. After a challenging two-year period (including 50 percentage points of market underperformance), REITs are poised for potential gains following recent Federal Reserve rate cuts.

Since mid-April, the Equity REIT Index has jumped by 14.0%, topping the S&amp;P 500&#39;s 12.8% gain. Small caps and rate-sensitive REITs have led this revival. The recent retreat in interest rates has instilled optimism in the REIT sector, helping an apparent &quot;REIT revival.&quot;

Even before this changing sentiment about rate shift, there were signs of stabilization in private real estate valuations during late spring and early summer. The signs of recovery were in areas of office leasing activity and a continued firming in residential rents (especially in limited-supply markets and sub-sectors), according to Hoya Capital.

Inside Industry Ranks &amp; Valuation

REIT and Equity Trust - Residential industry falls in the top 18% segment of 250 Zacks industries.&nbsp;The industry is trading at a forward P/E of 16.85X versus 18.99X recorded by the S&amp;P 500.

Real Estate - Development industry&#39;s rank falls into the top 40%. The industry has a forward P/E of 11.78X, again indicating undervaluation compared with the S&amp;P 500.

REIT and Equity Trust - Retail falls in the top 12% section of 250 Zacks industries. The industry has a forward P/E of 13.76X, which is another area of undervaluation.

REIT and Equity Trust - Other also boasts a good industry rank (top 39%). The industry trades with a forward P/E of 12.88X.

<h3>ETFs in Focus</h3>

With the Fed likely to cut interest rates as soon as in September, REITs are likely to rebound as this a rate-sensitive investing area. The segment offers a sturdy yield, which is a plus for income-seeking investors if rates fall.

Hoya Capital High Dividend Yield ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIET#NYSE">RIET</a>) charges 50 bps in fees but yields as high as 9.54% annually. No stock accounts for more than 3.05% of the fund.

Vanguard Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>) charges 13 bps in fees and yields 3.97% annually. The fund, however, has high company-specific concentration risks.

Real Estate Select Sector SPDR ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) charges 9 bps in fees and yields 3.33% annually. The fund also has high company-specific concentration risks with Prologis making up more than 10% of the fund, followed by American Tower (9.20%), Equinix (7.43%) and Welltower (5.89%).

<a href="https://www.zacks.com/stock/news/2308198/what-lies-ahead-of-reit-etfs-this-earnings-season?cid=CS-BENZ-FT-etf_news_and_commentary-2308198">To read this article on Zacks.com click here.</a>

Hoya Capital Real Estate is launching a brand new high-yield real estate investment trust ETF. The Hoya Capital High Dividend Yield ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIET#NYSE">RIET</a>) began trading Wednesday and provides investors with diversified exposure to roughly 100 of the highest yielding REITs in the market.

The Numbers: The RIET ETF currently has a dividend yield of 6.7%&nbsp;and distributions are paid monthly. The new ETF comes after Hoya launched the Hoya Capital Housing ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOMZ#NYSE">HOMZ</a>) in 2019, which has now grown to more than $80 million in assets under management.

Related Link: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/21/08/22429197/why-zillow-stock-is-down-20-in-2021-in-the-middle-of-a-housing-boom">Why Zillow Stock Is Down 20% In 2021 In The Middle Of A Housing Boom</a> 

&ldquo;RIET exclusively targets the income side of the real estate <a href="https://www.benzinga.com/money/best-sectors-to-invest-in-right-now/">sector</a>, making it the perfect complement to HOMZ, which seeks to invest in some of the fastest-growing real estate securities,&rdquo; Hoya Capital Director of Research Alex Pettee said in a statement.

Pettee takes a diversified approach to its allocation. Mid-cap REITs and small-cap REITS each have a 30% weighting in the index. &ldquo;Dividend champions&rdquo; and large-cap REITs each have a 15% weighting in the fund. The remaining 10% is preferred stock.

To reward early investors, Hoya is also waving fees through at least September 2022, bringing the fund&rsquo;s net expense ratio down from 0.5% to 0.25%.

How It Compares: Initial index holdings include Invesco Mortgage Capital Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVR#NYSE">IVR</a>), New York Mortgage Trust Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NYMT#NASDAQ">NYMT</a>) and Franklin Street Properties Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSP#NYSE">FSP</a>).

The S&amp;P 500 real estate <a href="https://www.benzinga.com/money/best-sectors-to-invest-in-right-now/">sector</a> has outperformed the overall market by a wide margin so far in 2021. However, the RIET ETF is positioned to generate a much higher yield than other popular REIT ETFs, which is an important factor for income investors in a historically low-rate environment.

The largest real estate ETF in the market by AUM is the Vanguard Real Estate Index Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>), which has just a 3% dividend yield.

To learn more about the new RIET ETF, investors can read the fund&rsquo;s press release and prospectus on <a href="https://www.hoyacapital.com/riet-high-dividend-yield-index">Hoya&rsquo;s website</a>.

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