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Mr. Market Doesn't See The Seafood Lover In American Realty Capital Properties
- ARCP's dividend yield is higher today than it has been since August 2012, while the quality of the income has increased substantially.
- As I ponder ARCP today, I'm seeing noticeable evidence that the shares are mispriced.
- As a real estate investor, it's important to recognize the "wheat from the chaff" and determine if there is adequate return for the risk.
- There is risk in owning this REIT, and the market has rewarded investors with an 8% yield in return.
Taubman Is A REIT Brand I Can Trust
- As I saw the “margin of safety” moving my way I pounced on the shares of my only Mall-based REIT at a price of $64.29.
- I bought shares in Taubman because of its “Rolex-like” track record of dividend performance.
- For Mall REITs, it comes down to “survival of the fittest” and the key ingredient for that measurement is demographics.
- With around $450 million of cash to deploy, Taubman could lever up easily and take down a $1 billion whale with no problem.
- My decision to invest in this luxury-branded REIT had more to do with trusting management than trusting Mr. Market.
Should I Short These 3 REITs?
- Occasionally I run across a few plants (stocks) that seem to be deteriorating and, as a result, I seek to avoid the companies all together.
- Through trial and error, I have found that it’s simply better to be in the market invested in stocks that offer the highest potential returns than play the timing game.
- Regardless of my risk tolerance level, the short sellers haven’t stopped betting against REITs and when that feeding frenzy becomes a catalyst, the “squeeze” ensues.
- It’s important to realize that investors who pay close attention to net profit margins have been able to predict just about every negative event.
Will This REIT Become The Next 'McDonald's' For Storage?
- Much like the fast food sector, there are just around two dozen self-storage operators (including the 4 self-storage REITs) that own around 7,000 facilities.
- Because the self-storage industry is highly fragmented, the public REITs should be able to continue to consolidate and achieve efficiency with economies of scale.
- The larger companies are taking a disproportionate share of customers that are available in the marketplace.
- It’s time to make a move before Extra Space becomes the next "McDonald’s in self-storage."
Ehh, What's Up DOC?
- MLV’s research is spot-on and it’s great to see broader coverage in the “sharpshooting” health care sector.
- I sold out of MPW for a variety of reasons, including competition (with the hospital sector) and share under-performance.
- I support MLV’s price target of $16 as I believe that there is strong momentum to support the estimated 34% growth rate.
- I plan to maintain my current allocation and for new investors I would wait for a pullback.
Is Annaly A Sleep Well At Night Investment?
- Many readers that have read my research over the years realize that my biggest issue with the mREITs is the volatility of the income stream.
- A SWAN investor is the opposite of a market timer who thinks he or she can capture large returns by jumping in the market to make a quick profit.
- By paying close attention to profit margins, intelligent investors can better predict the companies that could have a negative earnings impact.
ARCP May Have A Secret Sauce And It's Not Tartar Sauce
- ARCP has become more like the kid in the candy store gobbling up just about everything in sight.
- Now that ARCP is gaining significant exposure with a non-investment grade tenant, the risk for tenant default becomes much greater.
- I’m not a seafood lover but I do see some attractive ingredients brewing with ARCP and Cole Capital could be the icing on the cake.
The Rockefeller REITs, The Ones That Pay Monthly
- In this article I’ll provide you with an updated list of 17 REITs that pay monthly.
- Oftentimes investors overlook the frequency of the dividend payment.
- In addition to more frequent compounding, the monthly paying companies also offer less market risk.
- By investing in REITs that pay monthly you're able to better match fund your living expenses and create a more disciplined approach to saving and investing.
- My classic reason to own monthly dividend stocks is for the power of compounding.
A Small-Cap REIT Differentiated By Risk Control
- LTC is better prepared for reimbursement risks as the company has aggregate government reimbursement exposure less than 45%.
- LTC has just .48% in secured debt, the lowest in the peer group.
- 86% of LTC’s debt is fixed long-term with a weighted average interest rate of 4.8%.
- LTC is compensating much like Realty Income – I get a 5.5% dividend yield with modest growth.
General Growth Properties Has Plenty Of SALSA
- As I analyze Retail REITs today, I pay special attention to the companies that demonstrate the best forms of differentiation.
- Upon closer investigation one can see that General Growth has not always enjoyed a powerful model of repeatability.
- As the Regional Mall industry continues to consolidate, the strongest players will be the companies with the healthiest sources of differentiation.
- The most successful REITs must be able to benefit from scale, access capital, and enjoy strong tenant relationships.
Simon Says, Health Care REIT Spinoff Might Be Next
- It’s true that the health care property sector remains highly fragmented; however, is it possible that at some point will growth be sacrificed by operation acumen?
- As a prospective (or current) investor in HCP, the dividend track record is the most compelling metric.
- I believe that (at some point) one of the large diversified REITs will merge with another.
The Inside Scoop On This Pure Play New York REIT
- New York City is arguably one of the best real estate markets in the world.
- By focusing on just this one market we think it gives us a competitive advantage and many of the deals we do are off-market or quasi-off-market.
- Based on our estimated 2015 AFFO of $0.54 per share, the dividend of $0.46 per share represents an 85% AFFO payout ratio.
Silly Rabbit, Externally-Managed REIT Tricks Are For Kids
- I have often argued that the externally-managed REIT model is inherently misaligned resulting from various conflicts of interests.
- If Ventas doesn’t acquire HCT, the miserable investor will look foolish when he finds out he lost the buyer of his Ford pickup truck.
- Although SNH has a disadvantage in terms of its exposure with one self-dealing tenant, the company does enjoy a competitive advantage in its balance sheet execution.
- I just can’t come to grips with investing my hard-earned capital into an externally-advised REIT.
These REITs Should Weather The Storm
- It's much easier to predict the future value of a REIT due to the contractual make-up of the revenue streams.
- Most high-income investments provide only income with little or no capital appreciation, but equity REITs produce both.
- The companies that survive will be the fittest and most durable operators that have proven to be the most consistent over time.
A Net Lease REIT Differentiated By Discipline
- Somewhere National Retail Properties seems to get lost in the shuffle.
- Unlike several of the larger net lease REITs, NNN focuses exclusively on "small-box retail" and the company maintains a consistent strategy of owning relatively smaller transactions.
- Part of NNN's differentiated net lease approach is the higher cap rates that the company generates.
- The most recent bit of good news for NNN has been the announcement by Susser to merge with Energy Transfer Partners.
I Found A Nice Margin Of Safety In Omega Healthcare Investors
- Following the principles of value investing, I look for stocks that are cheap, as I know that's the most reliable way to grow my nest egg.
- My research and instinctive greed told me that there was added security in knowing that Omega had attractive long-term characteristics.
- The dependability of the dividend is the primary reason that I own this stock, and I'm satisfied the shares will appreciate and provide me with a long-term winner.
Is Monmouth Ready To Run?
- The purpose for this more recent update on Monmouth is to determine whether or not this REIT could be a candidate in my investment stable.
- So Monmouth has plenty of spark but is this horse ready to run?
- As acquisition velocity continues, Monmouth’s recurring income (or AFFO) should provide more clarity as to whether a dividend increase is coming.
Healthcare Trust Of America's Selective Acquisition Strategy Pays Dividends
- It’s clear that without leveraging the portfolio HTA has not been in a position to raise its dividend; however, by adding more high-quality revenue, I suspect that HTA will soon.
- HTA’s latest acquisition validates my thesis and I’m satisfied that the focused health care REIT will continue to seek high-quality MOB assets that will provide meaningful earnings power.
- HTA shares should hit $13.00 soon (and keep climbing).
Ventas Is A Sleep Well At Night REIT That Lays Golden Eggs
- The man was never satisfied with his daily profit so he decided to foolishly slaughter the hen in hopes that there would be a treasury inside the hen.
- By aggregating retail investors in the non-traded REIT space, Nicholas Schorsh has built an incredible machine that incubates REITs until they are ready to go public.
- Dividends represent the “golden eggs” whereby investors can look for valuable clues that provide insight into future performance.
- Given the company’s low cost of capital, any new investment (by Ventas) with a cash yield of 5.5% or higher should be accretive.
A Brand New Mortgage REIT That May Deliver Something Special
- UDF is a mortgage REIT with a differentiated model that provides debt and equity capital solutions to leading developers and home-builders.
- UDF provides an investment alternative to regional banks and home-builders for investors to participate in the continuing U.S. housing recovery.
- UDF raised around $615 million utilizing the RCS Capital (Nick Schorsch platform) model and during that time the company was able to aggregate loans that averaged around 13%.
- I intend to monitor the shares to establish an entry price at around $19.00.
What's The Magic That Moves ARCP?
- Given the extraordinary pace in which ARCP has announced these transactions, it clear that the market is confused.
- Most investors don’t see the value in Cole Capital and it seems that is one of the reasons that the market is placing a lower value on ARCP shares.
- No smoke and mirrors, just plain old dividend magic.
Is CyrusOne A Serious One For My REIT Portfolio?
- In terms of ownership, data centers are particularly unique in that they are one of the few sectors within real estate that really have a diverse investor base.
- Admittedly, my skill set is real estate, and as much as I've tried to educate myself on the ever-expanding cloud-based platform, the business model is highly complicated and seems to make me drowsy.
- So, as the title suggests, is CyrusOne a "serious one" for my REIT portfolio?
Gramercy Property Trust Leaves Them All In The Dust
- In September 2013 I decided it was time to “put some skin in the game” and I purchased shares at $4.19.
- Gramercy is not only my best REIT pick but my best stock, period.
- After a hiatus of more than five years, GPT announced (in March 2014) that the company was resuming its dividend payment to common stockholders.
- Gordon Dugan and his team are hitting all cylinders and with a gas tank full of capital, I expect to see continued success.
Is American Realty Capital Properties' 8% Dividend Yield Built To Last?
- Red Lobster once enjoyed a powerful competitive advantage in the restaurant space, it seems that the brand has significantly eroded and appears to be less sustainable over time.
- When it comes to investing, those emotional less-than-rational decisions are marketing gold. It’s those that let companies charge a premium for their products, and investors that rake in the profits.
- I consider the latest sell-off to be a selective buying opportunity. ARCP shares closed at $12.34 with a dividend yield of 8.10%.
- I consider the latest sell-off to be a selective buying opportunity. ARCP shares closed at $12.34 with a dividend yield of 8.10%.
You Can't Trump This REIT
- A successful brand must be unique, and it must offer a differentiated product or service to be great.
- It’s quite clear that the way that a REIT produces powerful sources of repeatable income is in the form of dividends.
- Durability implies that a company can take a financial punch and come back swinging. In order to do that a company must enjoy a predictable earnings stream.
- It’s important for me to own REITs just like Trump would own towers.
Where's The Dividend Growth For UMH Properties?
- I wasn’t looking for a tortoise as I was betting that UMH would perform more like a rabbit. What could I be missing?
- UMH management makes a strong case that there is intrinsic value in the investments that are being made and that over the long-term the value of the company could provide investors with substantial appreciation.
- A dividend cut would be costly and I need to make sure that I don’t fall victim to the temptation of chasing a high-paying REIT that offers modest growth.
- It’s clear that UMH is not in a position to raise its dividend and that’s one of the primary reasons that the stock has underperformed the peer group.
Taubman Is A Time Tested REIT Brand
- It’s the durability component that makes a REIT brand truly attractive and what makes the underlying value increase substantially.
- Buying a “blue chip” on sale can be awfully rewarding and I wish I was able to scoop up a number of gems late last year.
- Taubman is an icon of operational excellence as the mall REIT has successfully orchestrated a showcase of prudent financial management.
- Taubman would be a complimentary addition to my portfolio; however, I need to shy away from the instant gratification game and wait on a more attractive entry point.
An Inside Look At The 'Smoking Hot' Retail Opportunity Investments Corporation
- Check out this video interview with Stuart Tanz, CEO of Retail Opportunity Investments Corporation.
- This REIT is as hot as a firecracker and given the CEO’s (Stuart Tanz) drive for success, I suspect ROIC will top $20 by year-end.
- ROIC is a solid REIT that trades at sound value (P/FFO of 18.1x).
Tanger Is A Highly Predictable Dividend Machine
- As the retail industry has evolved, Tanger was the first to grasp the retail distribution channel in which goods could enjoy a longer life cycle than the traditional clearance concept.
- Earlier this week, I caught up with Tanger's CEO, Steve Tanger, to discuss his company's first-quarter earnings and its enviable brand of dividend repeatability.
- Ben Graham has trained me to spot a bargain and although Tanger has a bargain-based model of repeatability, the shares don't indicate there's a sale today.
HTA Delivers On Its Dedicated Management Model
- As a result of the increased asset management and leasing platform, HTA is doing a majority of leasing and negotiations directly with tenants, reducing the overall cost paid to third-parties.
- While visiting with members of the company’s executive management team I was able to meet with Amanda Houghton, Executive VP of Asset Management.
- As further evidence of HTA’s improving circle of competence S&P recently upgraded HTA’s investment grade credit rating to BBB, with a stable outlook.
Schorsch Hooks A Big Lobster
- Darden has a lot of real estate on the balance sheet - around 63% of assets - and that seems to be a significant element for the fortress-like brand.
- The only REIT that could possibly take down Red Lobster's real estate (by itself) is American Realty Capital Properties.
- Today ARCP announced that it had entered into an approximate $1.5 billion sale-leaseback transaction for over 500 Red Lobster restaurant properties.
This REIT 'Had Me At Hello'
- It's rare that I give a rookie REIT the thumbs up on the first date; however, as Jerry Maguire said, "you had me at hello".
- What impressed me most about ROIC is that the company started as a “blank check” Initial Public Offering, meaning that the REIT commenced with no assets and lots of cash.
- ROIC’s FFO on a per-share basis also increased, notwithstanding a sizable increase in the shares outstanding due to over 21 million warrants being exercised since the beginning of 2013.
- Although not a polished jewel then, my impulse told me that ROIC was going to be a big time contender.