More in REIT-Ville $SRC $NNN $GGP

Spirit Realty Capital Inc. ($SRC) reported numbers and promptly traded down 23% after experiencing an "abnormally high credit loss." The REIT's largest tenant is Shopko, a non-bigbox bigbox with 363 stores in the Central, Western and Pacific Northwest regions, some of which just happen to be shuttering. Shockingly, this uncoming dumpster fire isn't a Sun Capital Partners portfolio company...oh wait, yes...yes, it is. Elsewhere in REITs, National Retail Properties Inc. ($NNN) traded down 5% despite an abnormally high occupancy rate (99%). NNN is home to many stores of bankrupt Gander Mountain, the effect of which management declined to fully articulate - though they did seem to go out of their way to complement Camping World in a desperate attempt to not look so desperate. General Growth Properties also reported this past week and the stock quickly shot down.