Dividend Cuts And Overdue Rent: Previewing REIT Earnings Season

Seeking AlphaREITsDividend Cuts And Overdue Rent: Previewing REIT Earnings SeasonJul. 20, 2020 12:00 PM ET|| Includes: ACC, ADC, AMH, AMH.PD, AMH.PE, AMH.PF, AMH.PG, AMH.PH, AMT, AMZN, APTS, AVB, AWP, BXP, CBL, CBL.PD, CBL.PE, CCI, COLD, CONE, CPT, CUBE, CXW, CZR, DEI, DHC, DHI, DLR, DOC, DRE, DRH, ELS, EPR, EQIX, EQR, ESS, EXR, FB, FCPT, FREL, FRT, FRT.PC, GEO, GLPI, GTY, HR, HST, HTA, ICF, IGR, IIPR, INN, INVH, IRET, IRT, ITB, IYR, KBH, KBWY, KRC, KRG, LAMR, LB1:COM, LEN, LXP, MAA, MAC, MGM, MNR, MPW, NHI, NNN, NVR, O, OHI, OUT, PCH, PEAK, PEB, PEI, PEI.PB, PEI.PC, PEI.PD, PENN, PK, PKB, PLD, PLYM, PSA, QTS, REET, REG, REIT, RESI, REXR, REZ, RFI, RLJ, RNP, ROIC, RPAI, RQI, RWO, RWR, SBAC, SBRA, SCHH, SHO, SKT, SLG, SPG, SPG.PJ, SRC, SRET, SRVR, STAG, STOR, SUI, TCO, TRNO, UMH, USRT, VER, VICI, VNQ, VTR, WE, WELL, WPC, WPG, WPG.PH, WPG.PI, WY, XHB, XLRE, ZMby: Hoya Capital Real EstateHoya Capital Real Estate iREIT on AlphaThe #1 REIT service for investors who strive to SLEEP WELL AT NIGHT Summary"Did the rent get paid? How about the mortgage?" Earnings season kicks off this week with more than 175 REITs and housing industry companies reporting earnings over the next month.
Buckle up! Perhaps foreshadowing a frenetic REIT earnings season, troubled mall REIT CBL & Associates is reportedly preparing to file for Chapter 11, the first REIT bankruptcy since the Financial Crisis.
A bifurcation has developed between "essential" and "non-essential" property sectors, and a "second wave" of economic shutdowns could push some more highly levered REITs over the edge.
REIT earnings should provide pivotal information on rent collection and future dividend plans. 58 of 170 equity REITs have reduced or suspended their dividend since the start of the pandemic.
Aided by trillions of dollars in fiscal stimulus, rent collection has largely been a non-issue for non-retail property sectors, but how long can that last if these stimulus... Read more