Most real estate investment trusts are still getting their rent, except in the retail sector

The level of rent collection by U.S. REITs was about the same in May as it was in April, according to a survey just released by Nareit, an industry trade group. The survey covered six commercial real estate property sectors and compared the rents collected in May to those of a typical month prior to the pandemic.

Apartment REIT rent collections were also strong in May, remaining at 95% of a typical month and basically flat with April collections. Apartment landlords responding said they granted rent deferrals for 3% of rent owed. Single-family rentals and lower income apartments not owned by REITs have not fared as well.

Retail is another story. The sector is divided into free-standing retail, which are mostly convenience stores, restaurants and pharmacies, shopping centers, which are usually anchored by a supermarket, and regional malls.

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