Investors Show Optimism For Retail REITs On Black Friday

Kevin Vandenboss

November 25, 2022

Retail stocks had mixed results during market hours Friday as early reports suggested the shopping holiday was off to a slower-than-normal start.

Real estate investment trusts (REITs) with retail tenants, on the other hand, mostly traded higher Friday.

Alpine Income Property Trust Inc (NYSE:PINE) gained 1.39% for the day, closing at $18.96 per share. The net lease REIT is a landlord for some major retailers like Walmart Inc (NYSE:WMT), Lowe's Companies Inc (NYSE:LOW) and Best Buy Co Inc (NYSE:BBY).

Alpine is still down 7.8% for the year but has gained 4.45% in the last month. The company pays a dividend of $0.28 per share, which gives it a yield of 5.9%.

Realty Income Corp (NYSE:O) had a slight gain of 0.5% for the day, closing at $64.85 per share. The Monthly Dividend Company® has a portfolio of over 11,700 commercial properties in the U.S., the U.K. and Spain. Its largest retail tenants include companies like Walgreens Boots Alliance Inc (NASDAQ:WBA), Dollar General Corp (NYSE:DG), Home Depot Inc (NYSE:HD), CVS Health Corp (NYSE:CVS), Sainsbury’s (OTC:JSAIY) and several others.

Realty Income is still down 8.92% for the year but has gained 7.01% during the last month. The REIT pays a monthly dividend of $0.25 per share for a yield of 4.71%.

Kimco Realty Corp (NYSE:KIM), North America’s largest publicly traded owner and operator of open-air, grocery-anchored shopping centers, had a slight gain of 0.4% Friday – closing at $22.72 per share.

The REIT’s largest retail tenants include TJX Companies Inc (NYSE:TJX), Home Depot, Albertsons Companies, Inc. (NYSE:ACI), Target Corporation (NYSE:TGT) and many others.

Kimco’s share price is down 7.57% for the year, but with a 10.83% gain in the last month. It recently increased its quarterly dividend to $0.23 per share for a 4.49% dividend yield.

Weekly REIT Report: REITs are one of the most misunderstood investment options, making it difficult for investors to spot incredible opportunities until it’s too late. Benzinga’s in-house real estate research team has been working hard to identify the greatest opportunities in today’s market, which you can gain access to for free by signing up for Benzinga’s Weekly REIT Report.

Other REITs with retail tenants that gained on Friday include:

Four Corners Property Trust Inc (NYSE:FCPT): 1.31%

Essential Properties Realty Trust Inc (NYSE:EPRT): 1.18%

Spirit Realty Capital Inc (NYSE:SRC): 0.9%

Simon Property Group Inc (NYSE:SPG): 0.85%

Regency Centers Corp (NASDAQ:REG): 0.78%

Acadia Realty Trust (NYSE:AKR): 0.73%

National Retail Properties, Inc (NYSE:NNN): 0.72%

Kite Realty Group Trust (NYSE:KRG): 0.68%

Federal Realty Investment Trust (NYSE:FRT): 0.66%

Tanger Factory Outlet Centers Inc. (NYST: SKT): 0.57%

RPT Realty (NYSE:RPT): 0.54%

Brixmor Property Group Inc (NYSE:BRX): 0.3%

Agree Realty Corporation (NYSE:ADC): 0.23%

SITE Centers Corp (NYSE:SITC): 0.23%

Macerich Co (NYSE:MAC): 0.15%

Saul Centers Inc (NYSE:BFS): 0.14%

STORE Capital Corp (NYSE:STOR): 0.06%

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