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Dane Bowler

 
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  • 3 Warnings For Those Seeking Demand Growth Stories [View article]
    David,

    I'm long VTR because the price has dropped more than it should have in my opinion. Back when it was over $80 it was likely overpriced, but now that its sold off to the low $60s, its a pretty good deal for bluechip quality. My bet is that a couple dividend raises will bring it back into favor.
    Jun 19, 2014. 10:14 AM | Likes Like |Link to Comment
  • The Perfect REIT For Gamblers [View article]
    Adam,

    It appears i'm a bit late to the game in this comment stream, but I just began following GLPI. Thanks for a highly informative article.
    Jun 16, 2014. 02:06 PM | Likes Like |Link to Comment
  • Lexington Realty Trust Is Deeply Undervalued With 30% Upside Potential Within A Year [View article]
    reader,

    While I haven't heard any talk about it getting bought out, it seems plausible. A larger REIT with higher priced shares such as Realty Income (O) could potentially buy LXP accretively. ARCP would also be a potential buyer if it can get its market valuation up.
    Jun 3, 2014. 01:40 PM | Likes Like |Link to Comment
  • Lexington Realty Trust Is Deeply Undervalued With 30% Upside Potential Within A Year [View article]
    jeff6780,

    Unfortunately I have no basis of information from which to judge RUF-U. Most of my work is in relative valuation within an exchange so it becomes difficult for me to comprehend a stock's value on a different exchange.

    While its operations are based in the US, I would have to analyze it like a foreign company which is a bit outside my wheelhouse.

    It sounds like you have a fair amount of conviction on this idea (based on the pm) so I would encourage you to consider writing about it. The SA editors are a great resource.
    Jun 1, 2014. 10:27 AM | Likes Like |Link to Comment
  • Lexington Realty Trust Is Deeply Undervalued With 30% Upside Potential Within A Year [View article]
    alschroed,

    In my opinion, shareholders are more than compensated for the extra risk with an FFO yield that is nearly double that of O or NNN.
    May 31, 2014. 11:07 AM | 2 Likes Like |Link to Comment
  • Lexington Realty Trust Is Deeply Undervalued With 30% Upside Potential Within A Year [View article]
    the long tail of finance,

    Hmm, I'm not sure where bloomberg is getting their figure from, but FactSet consensus estimate for NTM FFO is $1.14, so with a current market price of ~$11.40 its at almost exactly 10XFFO. This $1.14 figure is also in-line with company guidance and LXP is on track to hit it.

    Hope this helps,
    Dane
    May 31, 2014. 11:04 AM | 1 Like Like |Link to Comment
  • Macro Scale REIT Valuation: Is The Sector Becoming Too Expensive? [View article]
    CBL is still cheap in my opinion
    May 31, 2014. 11:01 AM | Likes Like |Link to Comment
  • Armada Hoffler: Developing A Path To Outperformance [View article]
    Sajit,

    There are probably accounting based reasons for it being mostly return of capital with which I am not familiar. However, if your question is about the sustainability of the dividend, there is little reason to worry about that. AHH is easily earning their dividend in FFO and actually maintains a fairly conservative payout.
    May 29, 2014. 03:01 PM | Likes Like |Link to Comment
  • Assessing Health Care REIT Valuations Part 2 [View article]
    Factoids,

    Thank you for the very interesting article. While I appreciate the logical presentation, one step in the process gave me pause.

    The RRR methodology assumes that cap rates are directly related to riskiness of the asset. This, in my opinion, is not necessarily true.

    In recent months/years cap rates among health care properties have compressed significantly. This is NOT consequent to the assets somehow becoming less risky, but rather a product of bidding wars among too many REITs (public and non-traded) artificially raising acquisition prices.

    I would appreciate your thoughts on this matter and thanks again for the interesting article
    May 29, 2014. 02:36 PM | Likes Like |Link to Comment
  • American Realty Capital Properties: Rapid Growth At A Cheap Price [View article]
    Brad,

    Congrats on getting an interview with Nick on Thursday, he is a VERY busy man. I look forward to seeing it and please feel free to post the link here if you want.
    May 24, 2014. 01:03 PM | 1 Like Like |Link to Comment
  • American Realty Capital Properties: Rapid Growth At A Cheap Price [View article]
    palladium,

    The purpose of paying down the credit facility IS future acquisitions. an undrawn facility provides the liquidity to move quickly on deals.
    May 24, 2014. 12:53 PM | Likes Like |Link to Comment
  • American Realty Capital Properties: Rapid Growth At A Cheap Price [View article]
    doug,

    The preferred is cheaper for them than common equity so in my opinion it is unlikely to be called in the near term.
    May 24, 2014. 03:40 AM | 1 Like Like |Link to Comment
  • American Realty Capital Properties: Rapid Growth At A Cheap Price [View article]
    rlp2451,

    Well, ARCP has a total acquisition pipeline for 2014 of roughly $4.5B, so some of the equity issuance is for future acquisitions in addition to catching up on former ones.

    I hope this helps to clarify and thanks for reading
    May 24, 2014. 03:37 AM | 2 Likes Like |Link to Comment
  • American Realty Capital Properties: Rapid Growth At A Cheap Price [View article]
    galicianova,

    Sorry for the long absence, I've been away at school working on getting an MBA. I'll be writing full time this summer
    May 24, 2014. 03:36 AM | 3 Likes Like |Link to Comment
  • A Prominent Sector Headwind Stifles The Growth Of Sabra Healthcare [View article]
    Jim,

    Good question. The reason I chose SBRA is because it is, in my opinion, the most likely to be mistaken for a growth stock due to its history of very rapid growth. Stocks like OHI are more likely to be perceived as dividend plays which again, in my opinion, is a more accurate perception. This article was mostly intended as a warning to those who might be buying SBRA expecting large growth.

    Thanks for reading
    May 18, 2014. 03:13 PM | Likes Like |Link to Comment
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597 Comments
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