REITs: Monday Morning Action

As the S&P 500 started the week by going lower at the open, the major real estate investment trusts were mixed with a few opening higher and a handful joining the larger market by heading downward.

Medical Properties Trust Inc MPW got off to a decent start with a 0.64% higher price. 

The company is a healthcare facility REIT, as the name implies, and right now the company is paying investors a 7.44% dividend which is higher than most in the sector.

Despite that, recent analyst ratings have been coming down. On June 22nd, J. P. Morgan took Medical Properties down a notch from “overweight” to “neutral.” This followed an April downgrade by Jeffries from “buy” to “hold.”

ProLogis Inc PLD was up 0.61% shortly after the open. 

In business since 1994 and calling itself ProLogis since 1998, this industrial property REIT pays a 2.60% dividend. The units are way down from that late April peak of $175 but seem to bouncing off of the June low around $107.50.

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Park Hotels & Resorts Inc PK was down 1.74% just after the open. 

This REIT pays a 0.29% dividend. The lodging company tends to trade up and down along with consumer discretionary stocks, a function of the “resorts” part of the business. Concerns with inflation and interest rate hikes move the price around. It’s unclear if the June and early July lows will hold.

Not investment advice. For educational purposes only.