|Bid||81.64 x 1400|
|Ask||81.74 x 1100|
|Day's Range||81.54 - 83.95|
|52 Week Range||56.27 - 100.75|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||-14.37%|
|Beta (5Y Monthly)||0.82|
|Expense Ratio (net)||0.42%|
REITs can be attractive to income-oriented investors because they are required to pay out at least 90% of their taxable income to shareholders.
Exchange-traded funds with real estate exposure outperformed Wednesday as property stocks surged on re-opening hopes. The Real Estate Select Sector SPDR Fund rose 2.4%, while the iShares U.S. Real Estate ETF rose 3% and the Vanguard Real Estate ETF was up 3.2% in the early afternoon. Mall operator Simon Property Group was one of the best performers in the S&P 500, up nearly 15% and marking its biggest one-day move since April 6. Another shopping center operator, Kimco Realty Corporation, was up nearly 12% at midday.
The coronavirus pandemic will affect real estate investment trust (REIT) stocks and the real estate market for months or years to come, with commercial and multi-dwelling landlords defaulting on bank loans when their tenants no longer have income to pay their rents. Many homeowners will also feel the pain, missing mortgage payments and potentially losing their homes when employers permanently shed workers as a result of the economic downturn. Healthy dividends are unlikely to slow damage to REITs, especially for companies that own and lease retail properties.