Why EPR Properties and Park Hotels & Resorts Advanced 13% or More in August, but Tanger Factory Outlets Fell Over 11%
Shares of hotel operator Park Hotels & Resorts (NYSE: PK) jumped nearly 15% in August, according to data from S&P Global Market Intelligence. Following close behind was experiential-focused landlord EPR Properties (NYSE: EPR) and its gain of nearly 13%. However, on the other side of the ledger was mall real estate investment trust (REIT) Tanger Factory Outlet Centers (NYSE: SKT), which fell roughly 12% in the month.
All three stocks have been hit hard by the economic shutdowns used to slow the spread of COVID-19. EPR Properties is actually the best performer of the group, down 54% through the first eight months of 2020. The other two were both down a little more than 60% over that span. So even after all of the ups and downs here, the big story is that 2020 has been a pretty disastrous year for these real estate investment trusts. This backdrop also helps to explain the divergent stock performance in August.
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Source Fool.com
