Property sectors among all real estate investment trust sectors declined last week as a surge of new cases of COVID-19 in many states raised concerns about economic reopenings.
The All Equity REITs total return index was down 4% in the week ended June 26, according to Nareit. Among healthcare REITs in particular, the sector saw shares fall 2.4%.
The drops came even as Nareit last week released results of a survey that showed rent collections improving in June compared with May and April. Among healthcare REITS, rent collection increased from 89.8% in May to 95% in June.
Stock market declines reflect the need to reconsider how rapidly the economy can get back to normal and still be reasonably safe, Nareit Senior Economist Calvin Schnure noted.
“But we are still on track for a reopening of the economy in the second half of the year,” he said.
