Why Hotel and Casino REITs Got Crushed Yesterday

Shares of some major REIT stocks took a beating Monday as investors began to realize that the COVID-19 epidemic is going to be long-lasting and more detrimental to businesses than they anticipated. Park Hotels & Resorts (NYSE: PK), Host Hotels and Resorts (NYSE: HST), Gaming and Leisure Properties (NASDAQ: GLPI), and VICI Properties (NYSE: VICI) all plunged double digits and showed no signs of recovery. 

Source: Google Finance. 

Not only is travel reduced around the U.S. and the world, but hotels and casino companies are also starting to close down to keep employees and consumers safe. 

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Source Fool.com