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Marc Gordon  

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  • Forget The Underdog, CorEnergy Is A Cinderella Story [View article]
    Brad, thanks for this informative article. I agree that there is a lot of upside potential here, and I bought in when it hit $6.07/share. I also could not resist the 8.9% yield. I always appreciate being well compensated while I wait for a growth story to play out.
    Jun 24, 2015. 05:53 PM | Likes Like |Link to Comment
  • Great American Net Lease Company Begins To Claw Back Its Brand [View article]
    Brad, thanks for the interview and update, this is encouraging information.
    Jun 11, 2015. 11:41 PM | 1 Like Like |Link to Comment
  • Physicians Realty: Fast Growth, But Not Cheap [View article]
    Thanks for this good article, especially since I have been considering DOC as a potential addition to my portfolio. At what price would you consider DOC to be fairly priced and worth purchasing for a value oriented investor?
    Jun 5, 2015. 03:16 PM | 1 Like Like |Link to Comment
  • Unveiling A Pivotal Plan For This Predictable Outlier [View article]
    Brad, thanks for this good article. I bought WPC when it converted to a REIT. I agree with you that it has a bright future, and WPC is my second largest REIT holding (second to O, and ahead of NNN).
    My question is, why is the percentage of unencumbered assets so important? I realize that it increases borrowing flexibility somewhat, but is there some other reason that makes it advantageous to the REIT?
    May 30, 2015. 04:50 PM | Likes Like |Link to Comment
  • First-Quarter REIT Underdog Update [View article]
    Brad, on a tangential item, UDF is another underdog, that I bought when you recommended buying it last June at $19, but it is now at $17 (down about 20%). What is going on with UDF, and do you think UDF is still a buy or now a sell?
    May 13, 2015. 01:37 PM | 1 Like Like |Link to Comment
  • Pound For Pound, Retail Opportunity Investments Corp. Is One Of The Best REITs Around [View article]
    I live in San Jose, CA, and one of my big worries about ROIC is that a little under half of their property is in southern California, with another large chunk (a little less than a quarter) being in my area, Northern California. As a local, I can assure you that there will very likely be a very major earthquake in both of these areas in our investing lifetime, although we do not know if it will occur next week or next decade. This means that the majority of ROIC is exposed to a likely earthquake disaster that could level or substantially damage a major portion of their buildings. How has ROIC protected their company and its investors from this major risk?
    May 7, 2015. 12:25 AM | Likes Like |Link to Comment
  • You Big Dummy, I Just Bought More Shares In Lexington Realty [View article]
    Brad, thanks for this excellent article. You sold your CSG? What happened to Templeton's "buy when others are despondently selling"? As far as I know, other than the BOD looking for a new CEO (which is admittedly taking too long), nothing at CSG has materially changed since you first recommended it, so did your emotions perhaps get the best of you when you sold CSG? As one who still owns CSG for all the reasons you have elucidated in the past, I am hoping that this will demonstrate for me "the greatest fortitude ... pays the greatest ultimate rewards."
    Apr 30, 2015. 03:37 AM | 4 Likes Like |Link to Comment
  • Feed Your Family With These 4 Monthly Paying REITs [View article]
    waldipup, I agree, a fixation on monthly payers is artificial and eliminates some of the best triple net REITs out there. For example NNN and WPC are strong and reliable payers, and they pay quarterly, so I just divide the payment by three to spread it out on a monthly basis. I do not understand why anyone would pass up a better REIT that pays quarterly and settle for a lesser quality REIT just to get a monthly check. Spreading the money out over time yourself is not difficult!

    ganeh and dundey, if one is spending the dividend income, then monthly compounding has no relevancy, unless you count a money market's 0.01% interest worth considering (I don't).

    Also, ganeh, I would argue that if an investor relies on the monthly dividend being cut to tell him the REIT "could be on the wrong track " then he is not keeping abreast of his stocks' financial situations and should not be holding individual stocks.
    Apr 23, 2015. 05:32 PM | Likes Like |Link to Comment
  • Omega Healthcare Puts The Purr In Performance [View article]
    Brad, on a separate subject you just published on in Forbes: if the answer is NINE, will there be an inverse correlation between cap rate and share price as the average cap rate rises to nine?

    TIA, this is an interesting subject.
    Apr 22, 2015. 01:51 PM | Likes Like |Link to Comment
  • The GEO Group: Strong Yield With A Rehabilitation-Focused Prison REIT [View article]
    "The Risks" section in this article is woefully inadequate. There is a high level of risk in correction and detention facilities:

    1. Lack of diversification in asset types
    2. Relatively few potential customers (only governments)
    3. Dependence on the condition of local, state, and federal finances
    4. Dependence on rising crime rates and focus on incarceration. To mention just one example, thanks to falling crime rates and new-found success in rehabilitation, in Texas there aren’t enough convicts to fill all the cells built by the state, counties and private contractors who thought the flow of inmates would never end. The state corrections system now has more than 11,000 empty bunks. One state prison has closed, and two more are on the chopping block. County jails have more than 21,000 empty beds of their own. And those once-flourishing private lockups? Several stand empty, as do at least four of the six former state juvenile prisons that were shuttered two years ago. Research by the American-Statesman shows that in Texas nearly two dozen county and private lockups are now vacant or almost so, as are thousands of bunks in state adult and juvenile prisons.
    5. Many are in economically depressed or remote rural locations
    6. The difficulty of repurposing a facility if the tenant is lost. The cells are too small for offices, and the bars and concrete aren’t aesthetically adaptable for much of anything other than holding prisoners.
    7. The loss of principal when the property is deemed functionally obsolete

    There are much more promising REITs to "lock up" your money in. Or to put it another way, it is wise to totally avoid both prison and prison REITs.
    Apr 22, 2015. 01:36 PM | Likes Like |Link to Comment
  • REITs: The 90% Rule Isn't That Big A Deal [View article]
    Reuben, thanks for this excellent article on a subject that, based on comments in other articles, is widely misunderstood by many SA readers.
    Apr 12, 2015. 08:52 PM | Likes Like |Link to Comment
  • Until There's A Dividend, This REIT Remains A Pig In A Poke [View article]
    Selling Cole before everything went to heck (as Brad called for at the time) would have been prudent, but selling it now, at its most damaged is very suboptimal, given that Bill Stanley believes that firms that ceased sales of Cole's non-traded REIT products are going to resume normal operations with Cole. The time to sell Cole is not now but after Cole has exhibited robust activity with broker-dealers coming online, which will demonstrate to a potential buyer that it is a viable entity with future profitable prospects. That will maximize the return to ARCP shareholders, which is what we want.
    Mar 31, 2015. 01:29 PM | 2 Likes Like |Link to Comment
  • Gramercy Property Is Well Positioned To Deliver Something Special [View article]
    I find it curious that Mr. Market has tended to not recognize the value of REITs that are a mixture of different types of properties (CSG is an example), but GPT has clearly not had this problem even though it is 48% Industrial, 42% Office, 6% Specialty, and 4% Data Center, which is a rather diffuse collection.
    Mar 30, 2015. 05:11 PM | Likes Like |Link to Comment
  • This REIT Yielding 7.4% Should Benefit Investors When Rates Rise [View article]
    It has always been a Seeking Alpha weakness that SA does not require (like legitimate paper publications do) that any table or figure taken from somewhere else be footnoted as to the origin. The amount of plagiarizing that goes on in SA is terrible.
    Mar 27, 2015. 03:31 PM | 3 Likes Like |Link to Comment
  • This REIT Yielding 7.4% Should Benefit Investors When Rates Rise [View article]
    I have a small quibble Brad, you write here "The sole mREIT, United Development Funding (a monthly dividend payer), has been a good choice." On June 6 of last year you recommended UDF with the bulleted statement "I intend to monitor the shares to establish an entry price at around $19.00." Since then it has had a fair amount of volatility, and more recently it has traded in the $17s. For those of us who followed your advice (our responsibility obviously), while not a disaster, I have a hard time understanding how you can consider UDF to have been a good choice at this point, given the capital loss experienced since the recommendation.
    As always, I thank you for your excellent work.
    Marc
    Mar 27, 2015. 02:03 PM | 3 Likes Like |Link to Comment
COMMENTS STATS
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