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Brad Thomas

 
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  • A Brand New Mortgage REIT That May Deliver Something Special [View article]
    skipdog01 - yes....later this week. Thanks, Brad
    Jan 21, 2015. 09:50 AM | Likes Like |Link to Comment
  • If I Built This REIT From Scratch, Would It Be This One? [View article]
    montrachet - I plan to publish a Q&A with the CEO in the newsletter next month: http://bit.ly/1GuLLLm
    Jan 21, 2015. 08:43 AM | Likes Like |Link to Comment
  • Physicians Realty Reports Healthy Acquisitions With Growth Off The Charts [View article]
    UTA - Thank you and I appreciate the opportunity to be of service. I plan to meet with DOC management in a a few days at the Money Show. I will ask some tough questions in hopes of an interview on SA. All the best. Brad
    Jan 21, 2015. 06:53 AM | Likes Like |Link to Comment
  • Physicians Realty Reports Healthy Acquisitions With Growth Off The Charts [View article]
    wienec - yes but I don't expect to see such robust div growth as VTR. Thanks, Brad
    Jan 20, 2015. 10:59 AM | Likes Like |Link to Comment
  • Physicians Realty Reports Healthy Acquisitions With Growth Off The Charts [View article]
    JBierw - Thanks for reading and commenting. All REITs I own are listed beside my name and below the title. Brad
    Jan 20, 2015. 10:58 AM | Likes Like |Link to Comment
  • Physicians Realty Reports Healthy Acquisitions With Growth Off The Charts [View article]
    gators - Thanks for reading and commenting. All the best. Brad
    Jan 20, 2015. 08:17 AM | Likes Like |Link to Comment
  • Physicians Realty Reports Healthy Acquisitions With Growth Off The Charts [View article]
    Thanks. I just addressed in the opening comment. All the best. Brad
    Jan 19, 2015. 10:27 PM | Likes Like |Link to Comment
  • Physicians Realty Reports Healthy Acquisitions With Growth Off The Charts [View article]
    plenty and more importantly, you should be asking what I own. All the best. Brad
    Jan 19, 2015. 10:26 PM | 2 Likes Like |Link to Comment
  • Physicians Realty Reports Healthy Acquisitions With Growth Off The Charts [View article]
    booby111 - mix of NNN and NN. Thanks Brad
    Jan 19, 2015. 10:25 PM | 1 Like Like |Link to Comment
  • Physicians Realty Reports Healthy Acquisitions With Growth Off The Charts [View article]
    Gregorys1 - Thanks for reading. All the best. Brad
    Jan 19, 2015. 10:25 PM | Likes Like |Link to Comment
  • Physicians Realty Reports Healthy Acquisitions With Growth Off The Charts [View article]
    albert couch - HCP still looks attractive IMO. Thanks. Brad
    Jan 19, 2015. 10:24 PM | Likes Like |Link to Comment
  • Physicians Realty Reports Healthy Acquisitions With Growth Off The Charts [View article]
    jgrever621 - agreed on all points ...good luck. Brad
    Jan 19, 2015. 10:24 PM | Likes Like |Link to Comment
  • Physicians Realty Reports Healthy Acquisitions With Growth Off The Charts [View article]
    ck1000 - I disagree...HTA does have a superior MOB portfolio; however, DOC is moving up the credit curve and over time I think you'll see more similarities (with HTA). Thanks, Brad
    Jan 19, 2015. 10:23 PM | 2 Likes Like |Link to Comment
  • Physicians Realty Reports Healthy Acquisitions With Growth Off The Charts [View article]
    Dirk Leach - Thanks for reading and commenting. All the best. Brad
    Jan 19, 2015. 10:21 PM | Likes Like |Link to Comment
  • Physicians Realty Reports Healthy Acquisitions With Growth Off The Charts [View article]
    Guppigold - The answer depends in part on your investment thesis. If you are focused on companies that maximize cash flow with riskier short term debt and a smaller asset base, then your point is well taken.

    However, if you are more focused on longer term secure cash flow, with growth using more conservative long term debt, then it's hard to argue with DOC's approach. Mathematically it would be very difficult for a small cap REIT to become a long term mid to large cap REIT without growing into the market's expected dividend yield.

    It appears DOC could have achieved the 88-90 cents AFFO in 2014, if they had not made any more investments and hadn't issued anymore equity after q1 2014, and they said at the time the guidance "assumed no more investments and no more equity".

    Managment from the beginning has said they plan to grow and be a long term company, and will seek investment grade as quickly as possible. Managment could have covered the dividend using their $400 million unsecured credit line, which is short term debt.

    They believe, however, that the long term health of the company's balance sheet and the ability to raise the dividend over time is better served by managing the balance sheet in the short term conservatively, get to investment grade, and then issue longer term unsecured debt.

    Great question and I hope the answer is adequate. All the best, Brad
    Jan 19, 2015. 10:21 PM | 4 Likes Like |Link to Comment
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