Retail REITs Report Higher Rent Collections

Shopping Center REITs closed 2020 on a high note. According to recent filings analyzed by S&P Global Market Intelligence, all 10 shopping center REITs that have filed reports in the last two weeks had increased rent collections from 89% to 95%, showing improvement in the retail market.

Kite Realty Group Trust and Outlet Center REIT Tanger Factory Outlet Centers led the market with each REIT collecting 95% of its base rent in the fourth quarter, followed by Retail Properties of America and SITE Centers, which had 94.1% and 94% rent collections respectively. Macerich was in the middle of the pack with 92% rent collections, while Simon Property Group and Federal Realty Investment Trust had the least with 90% and 89% in total collections.