Investors Show Optimism For Retail REITs On Black Friday

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 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 WMT, Lowe's Companies Inc LOW and Best Buy Co Inc 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 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 WBA, Dollar General Corp DG, Home Depot Inc HD, CVS Health Corp CVS, Sainsbury’s 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 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 TJX, Home Depot, Albertsons Companies, Inc. ACI, Target Corporation 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. 

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Other REITs with retail tenants that gained on Friday include:

Four Corners Property Trust Inc FCPT: 1.31%

Essential Properties Realty Trust Inc EPRT: 1.18%

Spirit Realty Capital Inc SRC: 0.9%

Simon Property Group Inc SPG: 0.85%

Regency Centers Corp REG: 0.78%

Acadia Realty Trust AKR: 0.73%

National Retail Properties, Inc NNN: 0.72%

Kite Realty Group Trust KRG: 0.68%

Federal Realty Investment Trust FRT: 0.66%

Tanger Factory Outlet Centers Inc. SKT: 0.57%

RPT Realty RPT: 0.54%

Brixmor Property Group Inc BRX: 0.3%

Agree Realty Corporation ADC: 0.23%

SITE Centers Corp SITC: 0.23%

Macerich Co MAC: 0.15%

Saul Centers Inc BFS: 0.14%

STORE Capital Corp STOR: 0.06%