ESRT - Here's Why Ryman Hospitality Properties EPR Properties and Other Beaten-Down REIT Stocks Are Soaring
To say that the stock market was having a strong day on Monday would be a massive understatement. Thanks to positive COVID-19 vaccine trial data, the Dow Jones Industrial Average opened at an all-time high, and as of 10:30 a.m. EST, the S&P 500 was higher by more than 3.2%.
However, this pales in comparison with how some real estate stocks are doing, particularly those that own consumer-facing types of properties. Hotel real estate investment trust Ryman Hospitality Properties (NYSE: RHP) was up by 24%, and although it is an office REIT, Empire State Realty Trust (NYSE: ESRT) has a high reliance on tourism, which is why it is up by 23% for the day. Finally, experiential REIT EPR Properties (NYSE: EPR) is one of the market's biggest winners from today's news, with shares soaring by more than 33%.
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Here's Why Ryman Hospitality Properties, EPR Properties, and Other Beaten-Down REIT Stocks Are Soaring