Fri, Nov. 6, 10:14 AM
- While banks, brokerages, and insurers cheer the now near-certainty of higher rates, a big fall bounce for the REITs (IYR -1.8%) takes at least a pause as these income favorites mull some yield competition.
- Previously: December rate hike back on after big jobs number (Nov. 6)
- The 10-year Treasury yield is up nine basis points to 2.32% and the two-year yield has pushed to more than a five-year high of 0.90%.
- Realty Income (O -3.5%), Omega Healthcare (OHI -3.3%), Ventas (VTR -4.2%), HCP (HCP -2.8%), Medical Properties Trust (MPW -2.8%), Vornado (VNO -2.9%), Equity Residential (EQR -1.7%), AvalonBay (AVB -1.9%), Simon Property (SPG -2%), General Growth (GGP -3.2%), Inland Real Estate (ORC -0.8%), Kimco (KIM -2.6%), Public Storage (PSA -1.3%) Sovran (SSS -2.2%), Government Properties (GOV -2.3%), Boston Properties (BXP -2.6%), Ashford (AHP -5.9%), Hospitality Properties (HPT -2.1%), STAG Industrial (STAG -2.1%), Liberty Property (LPT -2%), American Campus (ACC -2.3%)
- ETFs: IYR, VNQ, DRN, URE, RQI, SCHH, ICF, SRS, RWR, RNP, JRS, KBWY, RFI, NRO, DRV, RIT, REK, RIF, FRI, FTY, PSR, DRA, FREL, WREI, IARAX, LRET, XLRE
Wed, Oct. 28, 4:37 PM
Tue, Oct. 27, 5:35 PM
- ABX, ACGL, AEM, AF, AFFX, AFOP, AMGN, ANIK, AR, ARII, ARRS, ASGN, ATML, BANC, BLKB, BWLD, CACI, CAVM, CBL, CGI, CHDN, CLI, CMO, CMPR, CNL, CNO, CNW, CRUS, CSGP, CW, CWT, DRE, DYAX, ECHO, ELLI, EPR, EQIX, EQY, ESIO, ESRT, ESV, EXR, FFIV, FMC, FORM, FORR, FR, GPRO, HBI, HLS, HOS, HT, HUBG, HY, INT, INVN, ISIL, KEX, KRA, KS, LNC, LOCK, LOPE, MAA, MANT, MAR, MC, MEOH, MMLP, MTGE, MTW, MUR, NE, NEM, NGD, NSIT, NTRI, NVDQ, NXPI, O, OCN, OGS, OII, ORLY, OTEX, PLXS, PPC, PRXL, PSA, PTC, QDEL, QEP, QGEN, QUIK, REG, ROG, ROVI, RRC, SCI, SGI, SGMO, SIMO, SPN, SPRT, SPWR, SSS, STAA, SU, TAL, THG, THRX, TILE, TLLP, TSO, TTMI, UNM, VAR, VECO, VRTX, WDC, WES, WGP, WLL, WMB, WSTL, WTS, YELP
Wed, Oct. 21, 9:27 AM
- BMO Financial upgrades SSS to Outperform from Market Perform. The price target of $107 is up $4 from previous and 8.8% above last night's close.
- The self-storage names have outperformed the broader REIT sector in 2015, and Sovran itself is up more than 11% YTD.
- SSS +2% in thin premarket trade to $100.28.
Fri, Oct. 2, 9:04 AM
Fri, Sep. 4, 12:58 PM
- Posting a total return of 2.38% as of August 18, the FTSE NAREIT All Equity REIT index ended up the month with a loss of 5.82%, a slim 18 basis points better than the S&P 500.
- The least-bad sectors were infrastructure REITs - American Tower (NYSE:AMT) and Crown Castle (NYSE:CCI) come to mind - down 1.4% in August and 1.5% YTD, and self-storage REITs - PSA, SSS, CUBE, EXR - down 1.9% in August, but up a big 13.4% YTD (best in sector).
- Hardest hit last month were office REITs - GOV, EQC, BXP, WRE are examples - falling 8.65%.
- Source: REIT Cafe
- ETFs: IYR, VNQ, DRN, URE, RQI, SCHH, ICF, SRS, RWR, RNP, JRS, KBWY, RFI, NRO, DRV, RIT, REK, RIF, FRI, FTY, PSR, DRA, FREL, WREI, IARAX
Fri, Sep. 4, 9:51 AM
- Public Storage's (PSA -0.6%) "unmatched" capital structure - 11% senior cap ratio, 6.7x fixed charge coverage - will attract investors looking for safe stocks, says analyst Jonathan Hughes, boosting the name to Outperform. The $220 price target is about 8.5% above the current level.
- Downgraded to Market Perform from Outperform is Sovran Self Storage (SSS -1.3%), with Hughes saying the company's exposure to the Houston market is weighing heavily on the name.
- CubeSmart (CUBE -1.2%) remains Hughes' top pick in the sector, notably trading at 20x 2016 AFFO/share estimates vs. peers as high as 22.9x.
- Source: Benzinga
Wed, Aug. 19, 6:41 PM
Wed, Jul. 29, 4:15 PM
Wed, Jul. 1, 4:08 PM
Fri, Jun. 19, 10:19 AM
Fri, May 29, 10:22 AM
- Cousins Properties (CUZ -0.2%) - with 39% Houston exposure - had minor water damage in loading areas, but no damage to the properties themselves, says analyst Ki Bin Kim. Parkway Properties (NYSE:PKY) - 26% exposure - had no material damage; Eastgroup Properties (NYSE:EGP) - 19% exposure - no impact; Camden Property Trust (NYSE:CPT) - 13% exposure - routine impact common with any big storm; Weingarten Realty (NYSE:WRI) - 13% exposure - water in one store; Sovran Self Storage (NYSE:SSS) - 5% exposure - leaks and some power outages.
Fri, May 15, 7:13 AM
Wed, Apr. 29, 4:20 PM
- Q1 FFO (absent charges) of $1.09 per share vs. $0.98 one year ago.
- Same-store NOI up 7.5% Y/Y, with revenues up 5.7% and operating expenses up 2.5%. Average occupancy up 100 bps and rental rates up 3.4%.
- Guidance: Q2 FFO of $1.21-$1.23 per share and full-year FFO of $4.79-$4.85.
- Conference call tomorrow at 9 ET
- Previously: Sovran Self Storage beats by $0.01, misses on revenue (April 29)
- SSS flat after hours
Wed, Apr. 29, 4:05 PM
Thu, Apr. 9, 3:24 PM
- A weak 30-year bond auction has long-term Treasury yields on the move higher, with the 10-year up five basis points to 1.96%. One also can't help but notice a recent uptick in capital raising among the equity REITs.
- Realty Income (O -2.2%), Agree Realty (ADC -2.2%), Omega Healthcare (OHI -4%), Medical Properties Trust (MPW -2.5%), W.P. Carey (WPC -2.2%), Duke Realty (DRE -2.5%), Essex Property (ESS -2.9%), Aimco (AIV -3%), Simon Property (SPG -2.4%), Kimco (KIM -2.9%), Inland Real Estate (IRC -3%), DDR Corp (DDR -2.3%), Sovran Self Storage (SSS -2.2%), Washington Real Estate (WRE -4%), Digital Realty Trust (DLR -2%), Hospitality Properties (HPT -2.6%), Ashford Hospitality (AHT -2.4%), Stag Industrial (STAG -4.6%), American Campus (ACC -2.3%).
- ETFs: IYR, VNQ, DRN, URE, SRS, ICF, SCHH, RWR, KBWY, DRV, REK, FRI, FTY, PSR, WREI, FREL
- Previously: Treasury yields on the rise after weak 30-year auction (April 9)
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