Shopping Center REIT's Continue to Take a Beating
Sporadic rallies by shopping center REITs have propped up share prices. An apocalyptic narrative regarding the death of retail by Amazon has continued to depress prices. However, most retail sales data has been coming in strong with many retail categories reporting solid year-over-year growth.
The greatest driver preventing ridiculous costs of capital has continued to be low inflation (and interest rates). Even with cost of equity being more expensive, REIT's have been able to aggressively acquire shopping centers. Typically the "sweet spot" for REIT's has been a LTV of 60%, but now with the increased cost of equity, that number has increased to almost 70%.
| Company Name | Market Cap | Last Price | 52-Wk High | 52-Wk Low | Forward Annual Div Yield | 52-Wk High Chg % |
| Pennsylvania Real Estate Investment Trust | 761.48M | 9.745 | 20.58 | 9.32 | 8.65% | -52.65% |
| DDR Corp. | 2.86B | 7.79 | 15.82 | 7.55 | 9.64% | -50.70% |
| Tanger Factory Outlet Centers, Inc. | 2.30B | 23.17 | 37.34 | 22.41 | 5.91% | -37.96% |
| Taubman Centers, Inc. | 4.10B | 47.87 | 76.79 | 46.73 | 5.23% | -37.71% |
| Wheeler Real Estate Investment Trust, Inc. | 86.70M | 9.25 | 14.64 | 7.95 | 14.69% | -36.82% |
| CBL & Associates Properties, Inc. | 1.56B | 7.85 | 12.35 | 7.15 | 13.47% | -36.44% |
| Kimco Realty Corporation | 7.93B | 18.64 | 26.63 | 17.02 | 6.08% | -30.04% |
| Brixmor Property Group Inc. | 5.47B | 17.93 | 25.34 | 17.23 | 5.78% | -29.26% |
| Washington Prime Group Inc. | 1.72B | 7.79 | 10.97 | 7.31 | 12.79% | -29.03% |
| GGP Inc. | 18.61B | 19.48 | 27.1 | 18.86 | 4.30% | -28.12% |
| Kite Realty Group Trust | 1.61B | 18.82 | 25.44 | 17.6 | 6.40% | -26.07% |
| The Macerich Company | 8.35B | 55.03 | 73.34 | 52.12 | 5.23% | -25.01% |
| Ramco-Gershenson Properties Trust | 1.08B | 13.29 | 17.56 | 11.86 | 6.90% | -24.37% |
| Cedar Realty Trust, Inc. | 508.70M | 5.55 | 6.79 | 4.7 | 3.65% | -18.27% |
| Vornado Realty Trust | 15.05B | 74.55 | 90.32 | 69.81 | 3.32% | -17.53% |
| Simon Property Group, Inc. | 56.33B | 157.29 | 189.25 | 150.15 | 4.60% | -16.89% |
| Acadia Realty Trust | 2.48B | 28.52 | 34.3 | 26.7 | 3.64% | -16.87% |
| Federal Realty Investment Trust | 8.92B | 121.58 | 145.8 | 119.37 | 3.29% | -16.61% |
| Weingarten Realty Investors | 3.97B | 30.91 | 36.82 | 29.03 | 4.98% | -16.08% |
| Realty Income Corporation | 14.83B | 54.02 | 63.6 | 52.72 | 4.72% | -15.06% |
| Regency Centers Corporation | 10.57B | 62.03 | 72.05 | 58.63 | 3.39% | -13.98% |
| National Retail Properties, Inc. | 6.00B | 40.21 | 46.34 | 36.45 | 4.70% | -13.25% |
| Urstadt Biddle Properties Inc. | 785.82M | 17.93 | 20.49 | 15.68 | 5.19% | -12.49% |
| Saul Centers, Inc. | 1.80B | 61.37 | 68.33 | 55.86 | 3.25% | -10.19% |
| Riocan Real Estate Investment Trust | 6.18B | 18.966 | 20.66 | 18.17 | 5.90% | -8.20% |
