Healthcare Trust Of America Is Making Waves With Swim Trunks Tightly Secured [View article]
Brad - thanks for the balance in your most recent articles. I very much appreciate not just the good--but the bad (or potential bad) of all stories and believe one must be very fussy at this point in time with REITs, MLPs and BDC's.
When I Say That AmREIT Is Irreplaceable, I Mean It's A Good REIT To Buy Today [View article]
Brad--thanks for your ongoing articles they are beneficial to many - myself included.
I do have a concern that REITs as well MLP's have turned into 'dart board' investments (toss a dart and you have a winner) thus giving investors overconfidence in their own or others picking prowess. For instance the only REIT I currently own is LTC which I have held for just 10 days and it is up 8%--these are scary gains and I have no illusion that it was a much better pick than many others. Over the 42 years I have invested I have seen this happen many times---the most notable was the 90's where I watched many folks invest their life savings in tech only to double and triple their money (and make themselves believe they were 'experts') before losing it all (or at least 90%) as shares tumbled and they had no idea that their life savings were going away forever.
I would suggest that given the global macro economic condition that this will end badly for REITs and MLPs (only wish I knew when that would happen). Those so happy to buy and hold for nice gains now have a real problem in that there is a time to sell---and it is a much more difficult decision to make than a buy decision in a bull market.
5 New Preferreds To Replace Recently Called Securities [View article]
No--it is worse than a white knuckle ride--it means they are in deep sh-- and the div's just go away---and quite possibly the company as a whole will follow.
15 Bank Preferred Stocks That Offer Solid Returns With Minimal Risk [View article]
Jim--we have created a couple preferred stock indexs which we chart weekly against the 10 year treasury. You might be surprised that the price of preferred stocks in general has risen in this time frame while the 10 year rose from 1.60%ish to 2.05%. In general moves of say 50 or 100 basis points in the 10 year treasuries will likely mean little to valuations.
We just update every Friday--they are on the bottom of this page.
Prospects For New REIT Silver Bay Realty Trust [View article]
Hi Tim--just did a 'quick and dirty' on my website last week on Silver Bay---I came out with a maximum dividend, on an ongoing basis (with full lease up done), and came up with 50 cents/annually. I believe they will have to leverage up the portfolio to gain the mass they need to justify anything close to the current share price. As a moderately conservative income investor this one isn't for me.
Annaly's $1.5 Billion Share Repurchase Plan Is Good News For Shareholders [View article]
It would seem that any analysis of this move would best be in the context of recent statements from the company--as recently as September they floated a sizable preferred offering to expand their portfolio---and previously in May a large preferred offering and a senior note offering of 750,000,000 with the stated purpose of expanding the portfolio. While the May capital raises are long enough ago that mgmt may have changed their minds---the September preferred issue was only 1 month ago. It will be interesting to see if they really do buy back any substantial number of shares.
Retirement Income: BDCs Vs. Mortgage REITs [View article]
We post a reasonably complete list of BDC's---we generally like some of these, but being very conservative we limit ourselves to maybe 5% of our portfolio
New Preferred Stocks Continue To Provide Opportunity For Buyers [View article]
Doug - thanks for the article. It should be known tho that just because the issues trade as shown in your chart above on the OTC it doesn't mean you will have your ordered filled. Many times I have had orders in at prices above the last trade and for days it will not be filled.
Yield Is Still Abundant In These Income Stocks [View article]
It should go without saying that in terms of risk these issues are mainly on the higher end---likely not a problem if we don't dump into a full blown recession.
We have a listing of all $25 preferred issues redeemable after 1/1/2013---sorted by date of first possible redemption. The list includes Yield to Call data as well which is important for those issues trading near or above $25
Bank Preferreds - A Viable Alternative For Cash [View article]
Acuity you are correct--any assumption that someone is going to pay 35% is quite a stretch as most holders hold them within a IRA or 401k type vehicle so they will pay at their marginal rate at the time of withdrawal.
Ryan--good shot at this topic, but I don't believe it would generally be a good idea to substitute preferred shares for 'cash'. While one might have the need for incremental income in the low rate environment--one must fully understand that preferred stocks are not 'cash' and valuations can/will suffer greatly when rates rise (whenever that may happen). I personally do invest almost exclusively in preferreds and Exchange Traded Debt issues--but I unquestionably understand--they are not cash.
When Royalty Trusts Cease To Be Royal [View article]
A most incomplete article on the topic. I would suggest not even writing an article like this if you can't go into more depth than what is presented here.
Maiden Holdings Maiden Preferred Offering [View article]
I think it is a good issue. It is worthnoting that the top 10 holdings comprise 8.8% of their total holdings and 98% of all holdings are rated (for what that is worth) investment grade.
Healthcare Trust Of America Is Making Waves With Swim Trunks Tightly Secured [View article]
When I Say That AmREIT Is Irreplaceable, I Mean It's A Good REIT To Buy Today [View article]
I do have a concern that REITs as well MLP's have turned into 'dart board' investments (toss a dart and you have a winner) thus giving investors overconfidence in their own or others picking prowess. For instance the only REIT I currently own is LTC which I have held for just 10 days and it is up 8%--these are scary gains and I have no illusion that it was a much better pick than many others. Over the 42 years I have invested I have seen this happen many times---the most notable was the 90's where I watched many folks invest their life savings in tech only to double and triple their money (and make themselves believe they were 'experts') before losing it all (or at least 90%) as shares tumbled and they had no idea that their life savings were going away forever.
I would suggest that given the global macro economic condition that this will end badly for REITs and MLPs (only wish I knew when that would happen). Those so happy to buy and hold for nice gains now have a real problem in that there is a time to sell---and it is a much more difficult decision to make than a buy decision in a bull market.
5 New Preferreds To Replace Recently Called Securities [View article]
15 Bank Preferred Stocks That Offer Solid Returns With Minimal Risk [View article]
We just update every Friday--they are on the bottom of this page.
http://bit.ly/Wpshli
W.R. Berkley, Rare 6.7% Yield On Investment Grade Preferred Stock With Downside Protection [View article]
All the dope on the issue is here
http://bit.ly/WZVOyn
Prospects For New REIT Silver Bay Realty Trust [View article]
Annaly's $1.5 Billion Share Repurchase Plan Is Good News For Shareholders [View article]
Retirement Income: BDCs Vs. Mortgage REITs [View article]
http://bit.ly/O5AaI4
New Preferred Stocks Continue To Provide Opportunity For Buyers [View article]
Yield Is Still Abundant In These Income Stocks [View article]
We have a listing of all $25 preferred issues redeemable after 1/1/2013---sorted by date of first possible redemption. The list includes Yield to Call data as well which is important for those issues trading near or above $25
http://bit.ly/TAEgHH
Bank Preferreds - A Viable Alternative For Cash [View article]
Ryan--good shot at this topic, but I don't believe it would generally be a good idea to substitute preferred shares for 'cash'. While one might have the need for incremental income in the low rate environment--one must fully understand that preferred stocks are not 'cash' and valuations can/will suffer greatly when rates rise (whenever that may happen). I personally do invest almost exclusively in preferreds and Exchange Traded Debt issues--but I unquestionably understand--they are not cash.
10% Yields On Business Development Corporations And Private Equity Funds [View article]
http://bit.ly/O5AaI4
When Royalty Trusts Cease To Be Royal [View article]
Maiden Holdings Maiden Preferred Offering [View article]
Maiden Holdings Maiden Preferred Offering [View article]