Real estate ETFs tumble as REITs see their worst day in 10 weeks

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Exchange-traded funds exposed to commercial real estate fell on Monday as real estate investment trusts continued to report profits reflecting the full weight of the coronavirus pandemic. The SPDR real estate fund fell 1.6% in the early afternoon, making it the worst performing sector in the S&P 500 SPX,
+ 0,71%
from afar. Among the fund’s biggest losers was CBRE Group, Inc., a commercial real estate company that on Friday reported a 57.5% annual decline in second-quarter adjusted net income. CBRE stock was down 4.8% on Monday, on track for its worst day since mid-May. Shares of Apartment Investment & Management Co., a real estate investment trust that is expected to report earnings after the bell, fell 3.8%. The Vanguard Real Estate VNQ ETF,
-1,32%
et le Schwab US REIT ETF SCHH,
-1,42%
were both 1.5% lower by early afternoon.

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