Why Net Lease REITs Like Realty Income Fell 30% or More in March
The shares of net lease bellwether Realty Income (NYSE: O) dropped roughly 31% in March according to data from S&P Global Market Intelligence. But that was hardly the only net lease real estate investment trust (REIT) to fall on hard times during the month. National Retail Properties (NYSE: NNN) declined just under 37%, and STORE Capital (NYSE: STOR) fell nearly 45%.
Image source: Getty Images.
For context, the S&P 500 index fell 13%. The average REIT, as measured by Vanguard Real Estate ETF, dropped about 20%. So these net lease REITs were particularly hard hit relative to the broader market and the REIT sector in general.
Source Fool.com