2 ASX REITs to buy with $1,000 today

ASX REITs have been hit hard in 2020, but here are a couple of big names with cheap share prices that I'm keeping an eye on.

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It's been an up and down year so far for the ASX real estate investment trusts (REITs) in 2020.

While the S&P/ASX 200 Index (ASX: XJO) is down 11.05% this year, many Aussie real estate shares have struggled.

Despite the volatility, I think there are still some good buying opportunities at current prices. Here are a couple of my favourites to check out today.

2 ASX REITs to buy with $1,000 today

I think it's hard to ignore National Storage REIT (ASX: NSR) right now. 

National Storage specialises in self-storage units and business could be set to boom. Shares in the ASX REIT are trading at $1.84 per share – exactly where they started the year.

That's despite a failed $1.9 billion takeover bid by a couple of private equity groups earlier this year. 

However, the current economic environment could be good for National Storage. People may be looking to downsize and lower their rental or mortgage payments as COVID-19 continues to hit the economy hard.

There could also be more relocations, as people adjust to a new remote working setup. That's good news for self-storage facilities, as it could likely result in people looking to store some of their belongings for the time being.

Another ASX REIT that could be worth watching is Mirvac Group (ASX: MGR).

Mirvac is a diversified property developer with interests in residential, commercial and industrial real estate.

Many people have been expecting a large property crash in 2020. However, interest rates are at record lows and many Aussies are still desperate to buy.

Add in the re-opening of Aussie retail stores and offices around the country and in my opinion this ASX REIT may outperform in 2020.

Of course, nothing is certain right now. The Mirvac share price has fallen 23.52%, year to date, so investors don't look to be convinced that earnings will be strong in August.

Foolish takeaway

These are just a couple of the ASX REITs I've got my eye on in 2020. REITs can provide consistent portfolio income and could be a good income option for long-term buyers.

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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