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Dane Bowler

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  • Misunderstood And Underpriced: NorthStar Realty Finance Is Poised For Outperformance [View article]
    illuminati,

    good question. I think nearly everyone will have a differing opinion on this one but in my opinion it is neutral.
    Jul 10 09:47 PM | Likes Like |Link to Comment
  • Disproportionate Sell-Off Of REIT Preferreds Creates Substantial Opportunity [View article]
    sofos,

    For one thing to be pareto superior to another, it must be better in at least one way and worse in none. Among any set of aspects, if A is better than or equal to B in every single aspect, it would be said that A is pareto superior to B.
    Jul 10 02:07 PM | Likes Like |Link to Comment
  • Disproportionate Sell-Off Of REIT Preferreds Creates Substantial Opportunity [View article]
    berloe,

    While it would be nice to see greater FFO coverage, dividends are paid out of CAD. As NRF's CAD payout is under 80% and getting lower as their acquisitions begin to contribute, it appears that both the common and preferred dividend are safe. For more info on its dividend sustainability please reference this article.

    http://seekingalpha.co...

    Thanks for the continued support berloe.
    Jul 10 11:55 AM | Likes Like |Link to Comment
  • Disproportionate Sell-Off Of REIT Preferreds Creates Substantial Opportunity [View article]
    David,

    There is no way to directly compare risk between industries. It will always be rather fuzzy and subject to opinion. The only apples to apples comparison available is leverage.

    NRF survived the great recession quite nicely and never stopped paying a common dividend throughout the trouble. If the common dividend never stopped that means the preferred dividends never stopped.

    In terms of the agency mREITs, it seems half the people discussing them think they are doomed while the other half think they are free money. My guess is it is somewhere in the middle, but the point is that the future of agency mREITs is the subject of much debate and there is considerable risk.
    Jul 10 11:52 AM | 2 Likes Like |Link to Comment
  • Mortgage REITs: Use The Sell-Off To Buy Yield And Stability [View article]
    Nice article. I agree with you that preferred share prices have fallen sufficiently to make them quite attractive.
    Another interesting choice for REIT preferreds would be the Northstar Realty Finance series B and D. In my opinion, these preferreds are vastly superior to AGNC-A and arguably better than most NLY preferreds. See why in today's article:

    http://seekingalpha.co...
    Jul 10 10:14 AM | 2 Likes Like |Link to Comment
  • The REIT Sell-Off Is Unjustified: Here Is How To Take Advantage [View article]
    Brad,

    You bring up some interesting points about the merger and I agree that it was rather pricey. While I also dislike the self-dealing aspects of it, the AFFO accretion indicates that ARCP investors were not harmed. At this point it is rather difficult to tell so we'll have to wait and see how it turns out.

    Thanks for furthering the discussion
    Jul 10 01:31 AM | 1 Like Like |Link to Comment
  • Chesapeake Lodging Is Substantially Undervalued Despite A Superior Portfolio [View article]
    AHT is somewhere between the 2. Probably a bit closer to SOHO in terms of total return potential
    Jul 10 01:26 AM | Likes Like |Link to Comment
  • The REIT Sell-Off Is Unjustified: Here Is How To Take Advantage [View article]
    surf,

    Don't worry, I write plenty of articles on NRF. Just submitted one about NRF preferreds in fact.
    Jul 9 07:37 PM | Likes Like |Link to Comment
  • The REIT Sell-Off Is Unjustified: Here Is How To Take Advantage [View article]
    monguuse12,

    Well I wrote a focus article on O being overpriced a while back. Unfortunately, it is in the PRO archives so its not publicly accessible. Otherwise I could just give you the link to show precisely why I feel O is overpriced.
    Jul 9 12:21 PM | Likes Like |Link to Comment
  • The REIT Sell-Off Is Unjustified: Here Is How To Take Advantage [View article]
    wileycoy,

    those are mREITs, this article was about equity REITs. I have some opinions on those as well, but it would require an entire article to explain them.

    Thanks for reading
    Jul 9 12:19 PM | Likes Like |Link to Comment
  • The REIT Sell-Off Is Unjustified: Here Is How To Take Advantage [View article]
    vneathery,

    Thanks for the kind words, but this is about equity REITs not mREITs.
    Jul 9 12:15 PM | Likes Like |Link to Comment
  • The REIT Sell-Off Is Unjustified: Here Is How To Take Advantage [View article]
    berloe,

    On a forward AFFO basis, the GE acquisition, the CapLease acquisition and the ARCT4 acquisition seem to all be accretive. However, I think they could have been more accretive had the pricing been less steep.
    Jul 9 12:14 PM | 1 Like Like |Link to Comment
  • The REIT Sell-Off Is Unjustified: Here Is How To Take Advantage [View article]
    wallstreetdebunker,

    Perhaps you didn't catch the word POTENTIAL when u read my statement. I think tortoise sums up my point quite nicely in his reply to your comment.

    "All stocks have growth potential and shrink potential. REITs are not unique in that respect. "

    If anything, I was stating the obvious. Quite different from hyperbole
    Jul 8 11:13 PM | 2 Likes Like |Link to Comment
  • My Diversified REIT Portfolio Designed For Outperformance In The Second Half Of 2013 [View article]
    Yes, they are in the portfolio. I believe it was AEC that I bought with the CAP money but I'd have to check.
    Jul 8 03:40 PM | Likes Like |Link to Comment
  • The REIT Sell-Off Is Unjustified: Here Is How To Take Advantage [View article]
    Thanks Rick
    Jul 8 02:12 PM | Likes Like |Link to Comment
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