Eviction ban back from the dead, China cracks down on travel, no tanking for Tanger, a casino REITs merger, REITs vs. inflation.
Today in COVID-19 News
CDC Bucks Supreme Court, Extends Eviction Ban Once Again
The Centers for Disease Control (CDC) eviction ban is back from the dead. Just three days after its official expiration date, the much-disputed eviction moratorium is on again -- this time banning evictions until at least Oct. 3 of this year in COVID-19 hot spots.
The Millionacres takeaway: If you’re one of the many landlords who are struggling due to nonpaying tenants, file for emergency rental assistance on your tenant’s behalf as soon as possible, our Aly Yale advises. The White House is urging municipalities to process and disburse funds quickly for those who need it.
China Imposes Mass Travel Restrictions in Wake of Delta Variant
CNN reports today that the speed and scale of the spread has spurred mass domestic travel restrictions, with all intercity coach, taxi, and online car hailing services suspended in medium- and high-risk areas. Chinese immigration authorities have also vowed to "strictly restrict nonurgent, unnecessary cross-border travel," including tightening the issuing of passports for Chinese citizens.
The Millionacres takeaway: The pandemic is far from over, we’re once again reminded. And while there’s a palpable determination to carry on without restrictions now that so many have been lifted, it’s probably a good idea for investors to consider what could happen to their real estate plays if America starts imposing the same kind of restrictions.
Also Today on Millionacres
This Retail REIT Just Shattered Expectations
Tanger Factory Outlet Centers (NYSE: SKT) took a hit during the pandemic, and of course, this retail REIT (real estate investment trust) wasn’t alone. But its recovery has been sharp and significant.
The Millionacres takeaway: Our Matt Frankel says that not only are Tanger’s second-quarter numbers impressive, but they also speak well of the prospects for this company, its niche, and even the U.S. economy as a whole, given its dependence on consumer spending.
MGM Growth Properties To Be Acquired by VICI Properties: What Investors Need to Know
Gaming REIT MGM Growth Properties (NYSE: MGP) has agreed to be acquired by fellow casino owner VICI Properties (NYSE: VICI) in a $17.2 billion all-stock deal.
The Millionacres takeaway: With an estimated closing early next year, investors have several months to decide if they want to continue holding stock in the combined companies. If you're an MGM Growth Properties investor, our Matt Frankel says, you may want to take a closer look at VICI's strategy and what the combined company will look like.
Also in Today’s News
Why REITs May Provide Inflation Protection for Investors
After being hobbled by the pandemic recession, REITs are rebounding rapidly, and the economic recovery isn’t the only thing driving growth this year.
The Millionacres takeaway: This opinion piece posted today on CNBC looks at each major sector and says that while REIT growth will probably be slowed a bit by economic impacts of the coronavirus delta variant -- and that could push down share prices -- investors can always buy on the dip.