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06.08.2020 15:22:00

Why Shares of Federal Realty Investment Trust Dropped 10.5% in July

Shares of real estate investment trust (REIT) Federal Realty Investment Trust (NYSE: FRT) fell 10.5% in July, according to data from S&P Global Market Intelligence. Through the first seven months of the year, the stock is down roughly 40%. As with so many things today, it all ties back to the coronavirus.Federal Realty owns a focused collection of around 100 or so highly desirable retail centers. Many are anchored by grocery stores, and about a third or so are mixed-use developments that include living, working, and entertainment properties.But when COVID-19 started to spread, a material portion of the company's tenants were forced to shut their doors. To give an idea of how bad it has been, the company only collected around 50% to 60% of its rents in April and May.   Continue reading
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