WPC - Triple Net Lease REITs Vs. The Terrible Movie Theatre

• AMC is a dreadful exposure for any REIT, but the more exposure a REIT has to AMC, the harder it will be.
• We expect AMC to go bankrupt and bearish on the name. When you expect a stock to go to $0, you should usually be bearish. That’s just common sense.
• EPR might recover, but will most likely face much lower rent levels on those assets. Potential tenants will be in a strong position to demand lower rents.
• NNN is only exposed to AMC on 3% of their portfolios, so the potential impact there would be much smaller.

For further details see: