Bill Bayless, CEO of American Campus Communities, Inc. (NYSE: ACC), said the REIT is helping its student residents weather coronavirus-related disruption by ensuring they have a home during the crisis, regardless of their ability to pay rent on a timely basis.
A Nareit survey of April rent collection across the REIT industry points to a strong performance by industrial, multifamily, and office REITs.
Nareit Executive Vice President for Research and Investor Outreach John Worth told the REIT Report April 22 that industrial REITs saw 99% of typical rents received in April. The survey was conducted between April 8-15.
On the 50th annual Earth Day celebration, Nareit Senior Vice President for ESG Issues Fulya Kocak said the social aspect of ESG is likely to see greater focus as a result of the coronavirus crisis.
Kimco Realty Corp. (NYSE: KIM) CEO Conor Flynn said the REIT’s large national retail tenants need to pay their rent so that financial assistance can get to where it is needed most—small shop retailers.
Dynex Capital, Inc. (NYSE: DX) President, CEO, and Co-CIO Byron Boston said that while opportunities to invest capital are evident, the mREIT will take time to consider the best risks and returns with respect to the current environment.
Data centers REITs were the top performer across the REIT industry in the first quarter of 2020, and the sector is expected to remain an investor favorite going forward as the coronavirus crisis underscores its vital and expanding role in an increasingly digital economy.
Data center REIT returns rose 8.8% in the first quarter as broader markets declined. For the year to April 13, returns in the sector were 12.4% higher.
After steep share price declines across the REIT industry in recent weeks, a more moderating pattern appears to have set in, according to Nareit senior economist Calvin Schnure.
Ric Campo, chairman and CEO of Camden Property Trust (NYSE: CPT), said that while April rent collections have slowed somewhat in the past week, “generally we feel pretty good about where we are” in terms of residents’ ability and willingness to pay rent.
The lodging sector was one of the first industries to feel the economic brunt of the coronavirus crisis, and it will likely be one of the last to benefit from an eventual upturn, Pebblebrook Hotel Trust (NYSE: PEB) Chairman and CEO Jon Bortz said.