More than 10,000 REIT-owned properties lie in the wider path of Hurricane Matthew, with the bulk comprising homes owned by single-family REITs.
Source: SNL
The now-Category 3 hurricane approached Florida’s east coast early Friday morning and began moving north just offshore, with reported wind gusts around 100 miles per hour. Current projections show the storm heading up the coast and then spinning back towards the ocean around the southern border of North Carolina.
Single-family REITs have the greatest exposure to the storm, according to SNL data. American Homes 4 Rent owns the most properties — 5,489 homes — within 100 miles of the coastline, while Silver Bay Realty Trust Corp. has 1,303. Nearly half of Reven Housing REIT Inc.’s properties are located near the storm’s path — the largest percentage of the top 20 affected REITs.
The other retail and healthcare sectors had the next-greatest exposure, with 716 and 378 properties, respectively.
For the full report featuring additional S&P Global Market Intelligence analysis please click here: SNL.com.
The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE
