Why EPR Properties Stock Fell 13% in July
Shares of real estate investment trust (REIT) EPR Properties (NYSE: EPR) fell 13% in July, according to data from S&P Global Market Intelligence. Through the end of the month, it was off by nearly 60% for the year. That's a disastrous showing, given that the average REIT, as measured by Vanguard Real Estate ETF, was lower by "just" 12 over the same span.
EPR Properties, formerly known as Entertainment Properties Trust, is among the worst-positioned REITs in the face of COVID-19. The vast majority of its portfolio is built around experiential properties like movie theaters, entertainment centers, and amusement parks. When the U.S. started to shut nonessential businesses and ask residents to socially distance, its lessees were some of the hardest hit. To put a number on that, in April the REIT collected just 15% of its contractual rents.
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Source Fool.com
