'stenant roster is in generally good health and tenants are paying on time, executivessaid May 2 on the company's first-quarter earnings call.
"Wedon't have any late now," CFO Kevin Habicht said of rent payments. "Havingsaid that … there is constantly retailers that are going up and down the creditladder, if you will, and so we're watching those. Sports Authority was on our listfor some time. We've talked about Barnes & Noble in the past. We've talked aboutLogan's [Roadhouse] restaurant and Gander Mountain to an extent. And so we've watchedthem all, but they're all current on their rent."
SportsAuthority, and sporting goods retailers in general, have emerged as an concern in the first-quarter REIT earnings seasons. SportsAuthority said in late April that it would liquidate rather than continue to pursuerestructuring in bankruptcy court.
An analystfollowed up on Habicht's comment on Gander Mountain in search of detail on the outlookfor the group.
"Thesporting goods sector has been under some pressure," Habicht said. "They'vehad some tailwind for a couple of years there with gun sales, etc., which helpedthe numbers quite a bit. But that's probably weighing a bit, so we're watching thatcarefully now."
Laterin the Q&A segment, CEO Craig Macnab expressed a level of surprise that SportsAuthority, which 10 years ago was the dominant player in sporting goods, is "goneor going." He acknowledged that the whole segment has been "difficult."
Camping World, the chain for new and used recreational vehicles,accessories and repair services, eventually came up in conversation, but executivestestified to the ongoing health of that retailer, however.
"I only wish that every retailer in our portfolio crankedout the same kind of excellent numbers that they're putting up today," Macnabsaid.