NEWS

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Palomar Press Briefing | May 26, 2021

 

 

 INDUSTRY NEWS

May 26, 2021

 

RESTAURANT VISITS ARE UP 41% THIS YEAR, SAYS TRAFFIC DATA COMPANY


On the 60th day of 2021, restaurant visits were 13% higher than they were on Jan. 1. On the 90th day, they were up 33%. And on the 135th day of the year, May 16, they were up 41% from New Year’s Day. That’s the Everest-high, post-pandemic climb that dining-out has made.

 

U.S. HOUSING STARTS DROP SHARPLY; BUILDING PERMITS RISE MODESTLY


U.S. homebuilding fell more than expected in April, likely pulled down by soaring prices for lumber and other materials, but construction remains supported by an acute shortage of previously owned homes on the market. 

 

REIT EARNINGS RECOVERY CONTINUED IN FIRST QUARTER: NAREIT T-TRACKER


The recovery in REIT earnings from declines early in the pandemic continued in the first quarter of 2021, according to data recently released in the Nareit T-Tracker. Funds from operations (FFO) rose 2.0% over the fourth quarter of 2020, and was 85% of the level in 2019: Q4, just prior to the onset of the COVID-19 pandemic.

 

RETAIL RENT COLLECTIONS SURGE TO NEAR PRE-PANDEMIC LEVELS


One of the embattled retail sector’s fundamentals has returned to near pre-pandemic levels, but data shows the resurgence is split along subsector lines. Retail rent collections reached 89.42% in April, a spike compared with 59.73% in April 2020 and a full percentage point increase from March.

 

TUESDAY MORNING TO BE RELISTED


Tuesday Morning’s efforts to get back on track continue with its return to the Nasdaq. The off-price retailer, which exited Chapter 11 at the beginning fo this year after closing about 200 stores, announced that the Nasdaq stock market has approved its application for the relisting of the company’s common stock. 

 

PEOPLE KEEP MOVING TO THE SUN BELT, BUT THE PACE HAS SLOWED


Net migration decelerated in most cited, though Austin, Texas, and Phoenix bucked the trend. Affordability and abundant employment opportunities drove people to the Sun Belt at a slower pace while they still moved away from gateway markets last year, according to the latest net migration data from the U.S Census Bureau.

 

THE MOST – AND LEAST – REPUTABLE U.S. RETAILERS ARE…


Patagonia, an outspoken brand known for its activist environmental agenda, has the best reputation in the United States. That’s according to the 22nd annual Axios-Harris Poll 100, which ranks the reputations of the 100 most visible companies in the United States. 

 

2021 REIT RETURNS


The regional mall REIT sector topped the chart with an 89.8 percent total return, beating the broader U.S. equity REIT index by 56.3 percentage points. The hotel sector followed next and posted a one-year total return of 73.4 percent. On the other end of the spectrum, the office sector had the lowest one-year total return of 15.8 percent.

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