RHP - Why Ryman Hospitality Kimco Realty and Empire State Realty Tanked 22% 28% and 33% Respectively in 2020
Real estate investment trust (REIT) Ryman Hospitality (NYSE: RHP) fell a nasty 22% in 2020 according to data from S&P Global Market Intelligence . That, however, was better than the roughly 28% decline that Kimco Realty (NYSE: KIM) suffered, which was better than the 33% drop that Empire State Realty Trust (NYSE: ESRT) experienced.
To be fair, it was a bad year for REITs in general, with the Vanguard Real Estate ETF , a proxy for the sector, down about 8.5% for the year. However, the fact that each of the above names fell more than twice as much as the average REIT speaks to just how bad a year it was for the trio.
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Why Ryman Hospitality, Kimco Realty, and Empire State Realty Tanked 22%, 28%, and 33%, Respectively, in 2020