Tue, Sep. 13, 12:20 PM
Tue, Sep. 6, 11:54 AM
- August monthly performance was: -1.69%
- 52-week performance vs. the S&P 500 is: -4%
- No dividends were paid in August
- Top 10 Holdings as of 6/30/2016: Land Securities Group PLC (OTCQX:LSGOF): 1.97722%, Simon Property Group Inc (SPG): 1.94584%, HCP Inc (HCP): 1.88886%, Brixmor Property Group Inc (BRX): 1.80422%, Retail Opportunity Investments Corp (ROIC): 1.73991%, Stockland Corp Ltd (OTCPK:STKAF): 1.58359%, Westfield Corp (OTCPK:WEFIF): 1.55283%, Vicinity Centres (VCX): 1.4361%, Gs Mtg Secs Tr 2013-Nyc5 CMO, Unibail-Rodamco SE (OTC:UNBLF): 1.35979%
Thu, Aug. 25, 8:12 AM
- Now at BTIG from Cowen & Co., analyst James Sullivan starts coverage of Physicians Realty Trust (NYSE:DOC) with a Buy rating and $42 price target. Growing the portfolio to nearly $3B following the $130M IPO, management has earned a reputation as solid capital allocators in the medical office space. New deals should remain a core driver of the business, resulting in outsized earnings growth next year.
- STORE Capital (NYSE:STOR) is initiated at Buy with a $35 price target, with Sullivan taking note of the company's combination of the smallest portfolio, differentiated acquisition strategy, and management track record.
- A West Coast focus and management's ability to source new investments should deliver excess returns to investors, says Sullivan, starting Retail Opportunity (NASDAQ:ROIC) with a Buy and $25 price target.
- Kilroy Realty (NYSE:KRC) has upside from the below-market rents in its portfolio and an extension into life science real estate. He starts it at Buy with $80 price target.
- Terreno Realty (NYSE:TRNO), Corporate Office Properties (NYSE:OFC), Macerich (NYSE:MAC), Kimco (NYSE:KIM) remain Buys.
- A Buy at Cowen, Duke Realty (NYSE:DRE) is stared with just a Neutral at BTIG.
- Previously: BTIG launches REIT sector coverage (Aug. 25)
Tue, Aug. 2, 12:49 PM
- July monthly performance was: +3.61%
- 52-week performance vs. the S&P 500 is: +4%
- No dividends were paid in July
- Top 10 Holdings as of 3/31/2016: Land Securities Group PLC (OTCQX:LSGOF): 2.41993%, Unibail-Rodamco SE (OTC:UNBLF): 2.23803%, Ventas Inc (VTR): 1.85645%, Stockland Corp Ltd (OTCPK:STKAF): 1.85393%, Essex Ppty Tr Pfd (ESS/PH): 1.80947%, Brixmor Property Group Inc (BRX): 1.75124%, Westfield Corp (OTCPK:WEFIF): 1.68697%, Simon Property Group Inc (SPG): 1.66805%, Vicinity Centres (VCX): 1.66357%, Retail Opportunity Investments Corp (ROIC): 1.61943%
Wed, Jul. 27, 4:14 PM
Tue, Jul. 26, 5:35 PM
- ABCO, ABX, ACGL, AEM, AF, AGNC, AHL, ALEX, ALSN, AMCC, AMGN, ANIK, ARRS, ASGN, AXTI, BKCC, CA, CAKE, CBI, CBT, CDE, CMO, CMPR, CMRE, CNMD, COHR, CRUS, CSGP, CVTI, CW, CYS, DLB, DRE, ECHO, EFX, ELY, EQY, ESRT, ESV, EXR, FB, FBHS, FOE, FORR, GG, GPRO, GRPN, HOLX, HT, IAC, IBKC, INFN, INT, ISBC, KEX, KGC, KIM, KNL, KNX, KONA, KRA, KS, LLNW, LM, LOGI, LPSN, LRCX, MAA, MANT, MAR, MCK, MEOH, MKSI, MMLP, MMSI, MN, MOH, MUR, NATI, NE, NEU, NGD, NOW, NTGR, NTRI, NVDQ, NXPI, O, OCN, OI, ORLY, OTEX, PEIX, PPC, PSA, PXD, QDEL, QEP, QTM, RCII, ROIC, RRTS, SCI, SFLY, SIGI, SPRT, SPSC, SSNC, SU, TER, TILE, TIS, TMK, TMST, TTEK, TTMI, TYL, UNM, VAR, VNDA, VNR, VRTX, WFM, WFT, WIRE, WLL, WRE, WSR, XL, XLNX
Wed, Jul. 6, 4:15 PM
Tue, May 17, 11:02 AM
- Following up on yesterday's story about the divergence between the stock prices of major retailers (down) and those of their landlords (up), Bloomberg's Rani Molla and Shelly Banjo break down the numbers further.
- They find those REITs with a large portion of portfolios concentrated in malls are down 10% Y/Y vs. all REITs, which are higher by 6%. Going further, they find those REITs with exposure to higher-end malls and outlet centers - Simon Property Group (NYSE:SPG) and Tanger Factory (NYSEMKT:SKY) come to mind – have been spared, while those owning older malls have taken the hit. CBL & Associates (NYSE:CBL) and WP Glimcher (NYSE:WPG) are down 40% and 30% this year, respectively.
- It's easy to pick on mall owners, but a broad slowdown at brick-and-mortar stores is ultimately a threat to all retail landlords, as traffic across all types of retail real estate in the U.S. and Canada has fallen as much as 18% Y/Y.
- On the good side is low supply as developers have stopped building, but even that's begun to run its course, they write.
- REITs of interest: O, NNN, GGP, KIM, WRI, MAC, TCO, PEI, SKT, TCO, ROIC, RPAI, IRC, FRT, DDR, WHLR, EQY, KRG, REG
Thu, Apr. 28, 6:15 AM
Wed, Apr. 27, 4:38 PM
Tue, Apr. 26, 5:35 PM
- ACGL, AEL, AF, ALGT, AMKR, AMP, ANIK, AR, ASGN, AVB, AVG, BCR, BGC, BKCC, BLKB, CACI, CAKE, CAVM, CBL, CDE, CGI, CLI, CMO, CMPR, CNMD, CNO, CRY, CSGP, CVTI, DGI, DLB, DMRC, DRE, DTLK, DWRE, DXCM, ECHO, EFX, ELY, EQY, ESRT, ESV, EXTR, FB, FIX, FNF, FORM, FORR, FR, FSLR, GG, HOLX, HTCH, HY, IBKC, INFN, IPHS, KEX, KIM, KRA, KRC, KS, LLNW, LOCK, LOGI, LQ, MANT, MAR, MC, MEOH, MMLP, MN, MSTR, MTGE, NE, NEU, NGD, NTGR, NVDQ, OIS, ORLY, OTEX, PEB, PPC, PRXL, PYPL, QDEL, QEP, QGEN, RCII, RGLD, RNG, ROIC, SCI, SFLY, SGI, SIMO, SNDK, SPRT, SSS, STR, TAL, TER, TILE, TS, TTEK, TTMI, TXN, TYL, UHS, UNM, VAR, VRTX, WCN, WIRE, WLL, WRE, WSR, XL, XLNX
Tue, Feb. 23, 4:07 PM
- Retail Opportunity Investments (NASDAQ:ROIC): Q4 FFO of $0.25 beats by $0.01.
- Revenue of $51.29M (+22.9% Y/Y) beats by $1.3M.
Mon, Feb. 22, 5:35 PM
- ABCO, ALDR, ARC, ATRC, BBRG, BNFT, CAR, CONE, CPRT, CVG, CZR, DWA, DXCM, DY, EHTH, EIX, ENPH, ETSY, EXAM, EXR, FIVN, FMI, FSLR, GNMK, HAWK, HCKT, HLS, INFI, JAZZ, JBT, KRA, MASI, MATX, MSA, NYMT, ORA, PEI, PLKI, PRA, PRSS, PZZA, ROIC, RP, RUBI, SF, SLCA, SM, TGB, TROX, TTPH, TX, UCTT, VRSK, WBMD, WMGI, WTR, XXIA, Y
Thu, Jan. 7, 4:25 PM
- According to Reis, the vacancy rate for regional malls fell to 7.8% in Q4 from 7.9% a quarter earlier. The cycle peak of 9.4% was hit in 2011 Q3.
- For neighborhood and community malls, the vacancy rate slipped to 10% from 10.1% The cycle peak was 11.1% in 2011 Q3.
- Net absorption isn't that great, says Reis, but it's at least outpacing the sluggish pace of construction.
- Rents continue to grow as well, up 0.5% in Q4, with asking rents up 2% Y/Y and effective rents up 2.2% - both a bit better than what 2014 saw.
- Interested parties: SPG, GGP, BRX, KIM, WRI, MAC, TCO, PEI, ROIC, RPAI, IRC, FRT, DDR, WHLR, WSR
Oct. 28, 2015, 4:24 PM
- Retail Opportunity Investments (NASDAQ:ROIC): Q3 FFO of $0.26 beats by $0.02.
- Revenue of $50.08M (+22.6% Y/Y) beats by $2.26M.
Sep. 30, 2015, 9:10 AM