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Dane Bowler  

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  • Medical Properties Trust: 65% Capital Appreciation Potential With A 7.75% Yield [View article]
    donzoamania,

    I'd be curious as to why you think this is optimistic. My FFO forecast is in-line with consensus and my target multiple is below the market average.
    Sep 4, 2015. 03:31 PM | 1 Like Like |Link to Comment
  • City Office REIT Has 55% Upside Fueled By Rapid Growth And Deep Undervaluation [View article]
    Kellogg,

    Still seems strong fundamentally. The market is just doing its own thing right now
    Sep 4, 2015. 03:08 PM | Likes Like |Link to Comment
  • Do Not Short Highly Levered REITs With Strong Fundamentals [View article]
    Mitchell,

    Thank you for the comment as I think it shows the strength of Seeking Alpha as a platform. We each have different analytical styles that led us to opposing conclusions and since we have each presented our cases, readers can factor both arguments in and make their own decisions.

    Hopefully our combined efforts will result in market participants making more informed decisions regardless of whether they choose to long or short.

    I look forward to reading more of your analysis in the future,
    Dane
    Sep 3, 2015. 04:37 PM | 2 Likes Like |Link to Comment
  • Strange REIT Price Movements And How To Play Them [View article]
    berloe,

    I have owned GOOD for a long time and feel quite confident that there is no funny business going on here.

    Its yield is high because the price is cheap.
    Sep 1, 2015. 11:07 AM | Likes Like |Link to Comment
  • REITs Are 23% Cheaper Than They Look [View article]
    It is getting close. Even bad companies can be good investments at the right price and I think some of the RMR companies such as SNH and GOV are getting very close to that price.
    Aug 31, 2015. 04:33 PM | Likes Like |Link to Comment
  • REITs Are 23% Cheaper Than They Look [View article]
    Johnny,

    The yields are very high. Many REITs are trading at 8% to 10% yields.
    Aug 31, 2015. 12:20 PM | 1 Like Like |Link to Comment
  • REITs Are 23% Cheaper Than They Look [View article]
    FFO = funds from operations

    AFFO = adjusted funds from operations

    These are the REIT equivalent of Earnings so P/FFO is REIT P/E
    Aug 31, 2015. 11:25 AM | 1 Like Like |Link to Comment
  • REITs Are 23% Cheaper Than They Look [View article]
    Steve,

    Of those 10, I am long SOHO CORR AHP CBL and WPG.
    Aug 31, 2015. 10:51 AM | 2 Likes Like |Link to Comment
  • REITs Are 23% Cheaper Than They Look [View article]
    WallStPirate,

    Nope, still own those. The lack of disclosure on this article is related to the lack of tagging any tickers. I only disclose my holdings that are specifically related to a stock tagged on the article.
    Aug 31, 2015. 10:17 AM | 2 Likes Like |Link to Comment
  • REITs Are 23% Cheaper Than They Look [View article]
    8566031,

    Thanks for the comment.

    I would like to add that the reasons for the spread have always existed. What has changed is the magnitude of the spread.

    Those reasons justify a spread where the blue chips trade at 17X and the small caps at 12X, but the spread is much larger than that right now. In my opinion, fundamental differences are not large enough to justify just how huge the spread is now.
    Aug 31, 2015. 10:16 AM | Likes Like |Link to Comment
  • REITs Are 23% Cheaper Than They Look [View article]
    Stanford,

    I will try my best to answer your questions as you have them numbered above.

    1) Taking Overall market cap over overall FFO would not give 15.54. The 15.54 is taking the FFO of each REIT times its weight and then summing those for a standard weighted average.

    2) This statement was explaining how I arrived at the figures in the table.

    3) I intentionally did not cap weight this. This is the actual FFO yield one would receive if they were to invest $X into each of the 166 REITs. If one were to cap weight it it would give a lower yield as the higher cap stocks are lower FFO yielding in general.

    4) Regarding the growth, I see it a little differently. Many of those small caps have tremendous growth rates. SOHO for example has a 4 year CAGR of over 30%. CIO, BRG, FPI, and MPW are also growing quite nicely.

    I hope this answers some of your questions and thanks for reading
    Aug 31, 2015. 10:11 AM | 4 Likes Like |Link to Comment
  • REITs Are 23% Cheaper Than They Look [View article]
    Marion,

    Agreed, value is its own reward
    Aug 31, 2015. 10:02 AM | 1 Like Like |Link to Comment
  • REITs Are 23% Cheaper Than They Look [View article]
    Michael,

    I have not looked at those. I tend to invest in equity REITs only.
    Aug 31, 2015. 10:01 AM | 1 Like Like |Link to Comment
  • REITs Are 23% Cheaper Than They Look [View article]
    I still own CORR and SOHO. I did not tag them in the disclosure for this article as I did not tag the article to any particular ticker.
    Aug 31, 2015. 10:00 AM | Likes Like |Link to Comment
  • REITs Are 23% Cheaper Than They Look [View article]
    My rusty math skills are showing.

    Thanks for the correction
    Aug 31, 2015. 09:59 AM | Likes Like |Link to Comment
COMMENTS STATS
707 Comments
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