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 (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. 

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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%