- Inland Real Estate Corp is one of the largest shopping center owners in the country.
- Inland recently issued a new preferred offering a 6.95% yield.
- Investors should consider investing in the new preferred as it will provide a safe yield for income investors.
This $8 Stock With A 7% Yield Is Seeing Major Insider Buying
Inland Real Estate: Strong 2Q Bodes Well For Investors
Mon, Jan. 12, 10:41 AM
- "We certainly expect more malls to close than open over the next several years," says D.J. Busch, a mall-REIT analyst at Green Street Advisors. Those regional malls with low per-square-foot tenant sales that have lost relevance probably will be closed or reused for something other than retail over the next few years.
- Morgan Stanley real estate debt analyst Richard Hill: “There’s a level of complacency among investors ... Competitive pressures that haven’t been seen in decades are making some retailers and some properties obsolete.”
- RPAI, IRC, KIM, FRT, DDR, WHLR, WSR, EQY, CBL, TCO, SPG, GGP, WRI, MAC, PEI
Wed, Jan. 7, 9:42 AM
- Upgraded to Outperform from Market Perform are Corporate Office Properties Trust (OFC +0.8%), Douglas Emmett (DEI +0.5%), and Regency Centers (REG -0.2%).
- Downgraded to Market Perform are Brandywine Realty Trust (BDN +0.3%), Health Care REIT (HCN +0.3%), Mid-America Apartment Communities (MAA -0.1%), and Saul Centers (BFS +0.2%).
- Downgraded to Underperform is Inland Real Estate (IRC -1.3%).
- Previously: Raymond James cools on apartment REITs (Jan. 7)
- Previously: Raymond James rotates on self-storage names (Jan. 7)
- Previously: Raymond James rings the register on Weyerhauser (Jan. 7)
Nov. 4, 2014, 12:14 PM
- Q3 Recurring FFO per share of $0.24 vs. $0.24 in 3Q13.
- Total Portfolio leased occupancy at 96.0% up 170bps over 3Q13.
- Financial Occupancy at 94.3% up 300bps over 3Q13
- Average base rent for renewal leases up 10%
- FY14 Guidance: Recurring FFO $0.93-$0.97; Same store NOI to increase 2%-4%; Financial occupancy 91%-92%
- Confernece call.
- IRC +0.6%
- Previous: Inland Real Estate FFO and revenue in-line
Nov. 4, 2014, 8:39 AM
Nov. 3, 2014, 5:30 PM
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Oct. 17, 2014, 8:39 AM| Comment!
Oct. 13, 2014, 4:19 PM
- Both equity and mortgage REITs saw plenty of buying as nearly all of the rest of the market was lit up bright red, and Treasury ETFs signaled a sharp drop in yields when government bonds reopen for trade tomorrow (closed this session for Columbus Day).
- A sampling of equity names: Senior Housing Properties (SNH +1.2%), Medical Properties Trust (MPW +1.4%), Gramercy Property Trust (GPT +1.7%), Equity Residential (EQR +0.7%), Inland Real Estate (IRC +0.9%), Sovran Self Storage (SSS +1.1%), Highwoods Properties Trust (HIW +1%).
- One equity REIT sector in the red along with the rest of the market is lodging amid worsening Ebola fears: Ashford Hospitality Trust (AHT -2.9%), Sunshine Hotel Investors (SHO -1.4%), LaSalle Hotel Properties (LHO -1.5%), Summit Hotel Properties (INN -1.5%).
- Mortgage REITs: American Capital Agency (AGNC +1.4%), CYS Investments (CYS +2.2%), Invesco (IVR +1.1%), American Capital Mortgage (MTGE +1.5%), Western Asset (WMC +1.1%).
- ETFs: IYR, VNQ, REM, MORL, MORT, DRN, URE, REZ, SRS, RWR, SCHH, ICF, ROOF, DRV, KBWY, RTL, REK, FRI, FTY, PSR, IFNA, FNIO, WREI
Oct. 6, 2014, 10:17 AM
- Frankfort's Prairie Crossings consists of about 109K square feet of gross leasable area, including of 83K square feet of inline retail space plus two multi-tenant outlot buidings. It's currently 99% leased and anchored by Bed Bath & Beyond, Sports Authority, and Office Depot.
- Inland Real Estate (IRC -0.1%) purchased the mall for $24.7M in cash.
- Source: Press Release
Oct. 2, 2014, 7:58 AM
- Tanglewood Pavilions is to be a 158K square foot power center located in Elizabeth City, NC. The property is currently 70% pre-leased to Hobby Lobby, TJ Maxx, Ross Dress for Less, and Dollar Tree. Under negotiation are leases for about another 24K square feet which would bring the property to 84% leased.
- The JV is with development and construction company Thompson Thrift, Construction is underway and deliveries to tenants should start in about one year. Upon completion of construction and an expected 95% occupancy, Inland (NYSE:IRC) will acquire 100% of the property at an already-negotiated price.
- Source: Press Release
Sep. 12, 2014, 11:19 AM
- Upgraded to Buy from Hold are Cedar Realty Trust (CDR -0.8%), Inland Real Estate (IRC -0.1%), and Ramco-Gershenson Properties Trust (RPT -1.2%).
- All the names are lower on the session amid a general selloff in REITs, possibly thanks to the 10-year Treasury yield now higher by about 30 basis points since Labor Day.
- Previously: Bond yields continue September surge higher
Sep. 11, 2014, 8:47 AM
- Pulaski Promenade will be a power shopping center of about 133K square feet on Chicago's southwest side. Inland's (NYSE:IRC) joint venture with Dutch pension fund advisor PGGM has entered a joint venture with IBT Group and Pine Tree Commercial Realty to develop the project.
- The space is already 80% leased, with store openings expected in the spring of 2016.
- Source: Press Release
Aug. 22, 2014, 7:47 AM
- Princess City Plaza has about 178.5K square feet of retail space and is 99% leased to retailers like Dick's, Old Navy, PetSmart, and others. Inland's (NYSE:IRC) JV with PGGM acquired the asset for $28.6M in cash subject to future earnout payments.
- The mall is located less than three miles from Notre Dame.
- Source: Press Release
Aug. 7, 2014, 1:17 PM
- Recurring FFO of $0.23 up 9.5% from a year ago.
- Total portfolio leased occupancy of 95.8% up 140 basis points and financial occupancy of 94.3% up 250 bps.
- Same-store NOI excluding lease termination income up 0.3%. Inland (IRC -0.3%) continues to expect full year NOI to grow 2-4%.
- Average base rent for new and renewal leases signed up 14.8% and 10.8% respectively over expiring average rents.
- Full-year recurring FFO is still expected at $0.93-$0.97 per share.
- Conference call at 3 ET
- Previously: Inland Real Estate misses by $0.01, misses on revenue
Aug. 7, 2014, 8:36 AM| Comment!
Aug. 6, 2014, 5:30 PM
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May. 8, 2014, 10:30 AM
- Going forward, the dividend will be representative of true earnings power, says Annaly (NLY -3.8%) CEO Wellington Denahan leading off the earnings call, and management feels comfortable with the current payout of $0.30 per share in quarters ahead.
- Did Annaly get caught looking at the dots? This quarter's surprising decline in income came as the cost of funds rose 24 basis points and the average yield on assets fell 29 basis points. "Just a behemoth adrift," sighs one mREIT veteran.
- Commercial real estate: Annaly boosted the portfolio in Q1 and has hooked up with Inland Real Estate (IRC) for a pipeline into new deals.
- Webcast and presentation slides
- Previously: Core earnings fall at Annaly as interest margin slides
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