We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Federal Realty (FRT) Announces Collection of 54% of May Rent
Read MoreHide Full Article
Federal Realty Investment Trust (FRT - Free Report) recently announced that the company has collected roughly 54% of total May 2020 billed recurring rents, as of May 29. The company also noted that this is ahead of the pace for April’s rent collections at the end of the month.
In addition, approximately 57% of its total April billed recurring rents have been collected so far. Further, based on annualized base rent, roughly 54% of its commercial tenants are open and operating. Nevertheless, with many of its markets beginning and continuing phased re-openings in June, openings are anticipated to carry on for the next few weeks.
Retail REITs, including Federal Realty, Simon Property Group (SPG - Free Report) , Macerich (MAC - Free Report) , Kimco Realty (KIM - Free Report) and several others, which have already been battling store closures and bankruptcy issues, are feeling the brunt.
This is because the coronavirus pandemic has forced most retailers to close stores, in order to contain the spread of the virus. Some retailers have also reduced store hours, while many others are keeping their e-retail operations running, as consumers are now avoiding social gatherings and increasingly opting for online purchases.
The situation is curtailing demand for retail space. Moreover, rent collections have become pressing concerns for retail landlords amid the macroeconomic uncertainties and financial stress on retailers.
Nevertheless, the company noted that construction activity has resumed at Santana West and Assembly Row, as well as in other smaller redevelopments. Though construction activities continue at Pike & Rose, CocoWalk & Darien, the pace is slower amid observations of COVID-19 safety protocols at all sites.
Currently, Federal Realty carries a Zacks Rank #3 (Hold). Shares of this retail REIT have depreciated 31.4%, so far in the year, wider than the 27% decline recorded by the industry.
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?
Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Image: Shutterstock
Federal Realty (FRT) Announces Collection of 54% of May Rent
Federal Realty Investment Trust (FRT - Free Report) recently announced that the company has collected roughly 54% of total May 2020 billed recurring rents, as of May 29. The company also noted that this is ahead of the pace for April’s rent collections at the end of the month.
In addition, approximately 57% of its total April billed recurring rents have been collected so far. Further, based on annualized base rent, roughly 54% of its commercial tenants are open and operating. Nevertheless, with many of its markets beginning and continuing phased re-openings in June, openings are anticipated to carry on for the next few weeks.
Retail REITs, including Federal Realty, Simon Property Group (SPG - Free Report) , Macerich (MAC - Free Report) , Kimco Realty (KIM - Free Report) and several others, which have already been battling store closures and bankruptcy issues, are feeling the brunt.
This is because the coronavirus pandemic has forced most retailers to close stores, in order to contain the spread of the virus. Some retailers have also reduced store hours, while many others are keeping their e-retail operations running, as consumers are now avoiding social gatherings and increasingly opting for online purchases.
The situation is curtailing demand for retail space. Moreover, rent collections have become pressing concerns for retail landlords amid the macroeconomic uncertainties and financial stress on retailers.
Nevertheless, the company noted that construction activity has resumed at Santana West and Assembly Row, as well as in other smaller redevelopments. Though construction activities continue at Pike & Rose, CocoWalk & Darien, the pace is slower amid observations of COVID-19 safety protocols at all sites.
Currently, Federal Realty carries a Zacks Rank #3 (Hold). Shares of this retail REIT have depreciated 31.4%, so far in the year, wider than the 27% decline recorded by the industry.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Top 10 Stocks for 2020
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?
Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2020 today >>