• Did dividends get cut? Did the rent get paid? With REIT earnings season now complete, we compiled rent collection metrics and the status of dividend distributions across the REIT sector.
• For property landlords, it's tough to pay dividends to shareholders if you're not collecting the rent. Dividend cuts have abated in recent months as rent collection has sequentially improved.
• After 59 equity REITs and 31 mortgage REITs announced a dividend cut in March through June, just two additional equity REITs have announced a reduction since the start of July.
• Roughly 90 REITs have maintained dividends at previous levels, while 20 REITs have announced a dividend increase in 2020 - primarily in the "essential" property sectors - housing, industrial, and technology.
• Rent collection has remained a non-factor for these "essential" property sectors - which bodes well for the prospectus of future dividend distributions - with collection rates averaging over 95%.

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