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Dane Bowler

 
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  • The Strongest REIT Opportunity Of This Earnings Season: Omega Healthcare [View article]
    Glen,

    Its fundamentals have not changed. Try not to worry about the noise of the market price.
    Aug 16 06:30 PM | Likes Like |Link to Comment
  • 8%+ Yielding REIT Preferreds: The Best Of The Best - Part 1 [View article]
    Nick,

    While the discount to par on SLG-I is nice, the coupon is low enough that it will remain that cheap IMO. Thus, one would only get the current yield and no price appreciation.
    Aug 16 09:54 AM | Likes Like |Link to Comment
  • 8%+ Yielding REIT Preferreds: The Best Of The Best - Part 1 [View article]
    For those of you interested, the 2nd part is now live.

    http://seekingalpha.co...
    Aug 15 02:13 PM | 1 Like Like |Link to Comment
  • 8%-Plus Yielding REIT Preferreds Part 2: The Best Of The Best [View article]
    Rubicon,

    I know you to be an expert on fixed income investment, so that compliment means alot to me. Thank you.
    Aug 15 02:11 PM | 1 Like Like |Link to Comment
  • 8%+ Yielding REIT Preferreds: The Best Of The Best - Part 1 [View article]
    Robin,

    Yes, these do have long durations, but the principal is somewhat protected by the redemption value. As the underlying securities grow and gain access to cheaper capital, many of these issues will be redeemed for the full $25.

    Given the uncertainty of the redemption date, and the superiority of the dividend over the "risk free" rate, the standard duration equations for bonds or perpetuities simply do not apply. It becomes somewhat of a judgement call.
    Aug 14 11:42 AM | Likes Like |Link to Comment
  • 8%+ Yielding REIT Preferreds: The Best Of The Best - Part 1 [View article]
    Lunco,

    That is an excellent point. these financial companies are experiencing substantial on paper losses despite strong economic profitability. This topic will be discussed further in part 2 of the article.
    Aug 14 11:34 AM | 1 Like Like |Link to Comment
  • 8%+ Yielding REIT Preferreds: The Best Of The Best - Part 1 [View article]
    plow,

    They all accrue dividends in the event they are not paid on schedule.
    Aug 14 09:56 AM | 1 Like Like |Link to Comment
  • 8%+ Yielding REIT Preferreds: The Best Of The Best - Part 1 [View article]
    clark,

    Its not really chasing when the issue is undervalued.
    Aug 13 10:49 PM | Likes Like |Link to Comment
  • 8%+ Yielding REIT Preferreds: The Best Of The Best - Part 1 [View article]
    Thank you Michael, I hope to not disappoint
    Aug 13 10:49 PM | Likes Like |Link to Comment
  • 8%+ Yielding REIT Preferreds: The Best Of The Best - Part 1 [View article]
    John,

    Thanks for the color on a potential reason for the low trading prices.

    I agree that NRF common is strong right now. Since raising their dividend and reporting a very strong quarter the price dropped. Both cheaper and better than it used to be.
    Aug 13 08:04 PM | 1 Like Like |Link to Comment
  • 8%+ Yielding REIT Preferreds: The Best Of The Best - Part 1 [View article]
    earl,

    I agree completely. I am rather confused as to how it can trade so cheaply
    Aug 13 06:38 PM | Likes Like |Link to Comment
  • Medical Properties Trust Will Rise As It Proves Resilient In A Challenging Environment [View article]
    Rom,

    OHI i the ideal balance stock for MPW. its SNFs go well with MPWs hospital portfolio and it has a very compelling valuation.
    Aug 11 10:15 PM | 1 Like Like |Link to Comment
  • Medical Properties Trust Will Rise As It Proves Resilient In A Challenging Environment [View article]
    Paul,

    Well, MPW has arguably the most profitable operators of any of the healthcare REITs as shown by their EBITDAR ratios. Even with medicare cuts and other turmoil, it seem the operators would be incented to renew.
    Aug 10 11:29 AM | 1 Like Like |Link to Comment
  • Medical Properties Trust Will Rise As It Proves Resilient In A Challenging Environment [View article]
    richjoy,

    Well MPWs are almost all CPI+X% based which means its a REAL increase regardless of inflation of deflation.

    Some of the other healthcare REIT contracts also involve escalators, but much of MPW's are not included in GAAP straight line rent as they have no floor or ceiling. Thus, these are in ADDITION to the GAAP rent rather than a component of it.
    Aug 10 11:27 AM | 3 Likes Like |Link to Comment
  • Disproportionate Sell-Off Of REIT Preferreds Creates Substantial Opportunity [View article]
    Well the price drop was consequent to them paying a dividend yesterday. NRF-c seems the best at the moment, but again, each is a strong preferred stock.
    Aug 9 05:43 PM | Likes Like |Link to Comment
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