Workinhard

Workinhard
Send Message
View as an RSS Feed
  • CYS Investments And The Persistent Discount  [View article]
    wish i knew why m-reits don't publish their BV's more often. They know what it is every night, why not take some of the uncertainty out of the market.
    Feb 11, 2016. 10:01 PM | Likes Like |Link to Comment
  • My Top 10 Monthly Dividend Stocks: Updated  [View article]
    re PSEC - mgmt is terrible and their CLO investments are going to put pressure on dividends and the NAV
    Jan 26, 2016. 06:17 PM | 6 Likes Like |Link to Comment
  • My Top 10 Monthly Dividend Stocks: Updated  [View article]
    Pretty sure GPT switched to quarterly after the merger with CSG.
    Jan 26, 2016. 04:54 PM | 3 Likes Like |Link to Comment
  • NorthStar Realty Finance - Make 2015 Hedge Fund Pain Your Gain In 2016  [View article]
    For an externally managed structure to work the market has to have complete faith and trust in the external manager. While Hamo did a great job navigating NRF through the 2008-09 credit crisis, in my opinion,he has lost something along the way and i am struggling to trust him or any of the NRF / NSAM mgmt team. They are looking out for themselves as a mgmt team first and not the shareholders. It appears that the market agrees with my assessment.

    I also am disappointed in the research analysts on the conf calls as they don't ask the tough questions and basically toss softballs to mgmt. Never a question about the excessive mgmt comp and options granted.

    I am predicting a 50% dividend cut that will be used to grow assets under mgmt , vs buying the stock back. By buying more assets for NRF they can increase NSAM's earnings vs buying back stock which would benefit shareholders.They know they are shut out of the capital markets for the foreseeable future so the only way to have NRF increase assets is to cut the dividend.

    Hamo 's legacy will be similar to other executives who make obscene amounts of money but in the end fail the shareholders they are supposed to represent. Sad but true. Not the kind of legacy I'd want to leave behind.
    Jan 23, 2016. 02:39 PM | 3 Likes Like |Link to Comment
  • There's Cheap And There's Dirt Cheap  [View article]
    LADR is going to struggle (share price wise) as long as the m-reit sector is out of favor. Will be one to keep an eye on for the eventual turn but an 11% yield is on the low side based on other commercial and m-reits out there. If you start a position, don't jump all in, ladder your purchases of LADR.
    Jan 23, 2016. 01:59 PM | Likes Like |Link to Comment
  • Mr. Buffett, You Picked The Wrong Blue Light Special  [View article]
    Interesting, i had noticed this stock a couple of days ago when I saw their pfd stocks trading at higher yields than there competitors. I am guessing the cheapness is all related to those top 4 tenants that you pointed out are in distress, but maybe the market is treating this to harshly. Will be one to research further and keep an eye on.
    Jan 22, 2016. 01:56 PM | Likes Like |Link to Comment
  • Vornado Realty Should Double Down On Lexington Realty  [View article]
    You need to look at what type of properties net lease firms own in general, like O, NNN, ADC, etc. Well located retail real estate will always be in demand for some type of use and that is generally what these type of companies own.
    Jan 15, 2016. 10:10 AM | 3 Likes Like |Link to Comment
  • Prospect Capital Makes A Bundle Off Of Its Real Estate Investment  [View article]
    It may be a play based on valuation at these levels , but it is a rental not a long term purchase. Mgmt can't be trusted .
    Jan 14, 2016. 12:26 AM | 1 Like Like |Link to Comment
  • Sell Everything: Cut Your Income Off To Spite Your Retirement  [View article]
    George , I agree with your premise and run a similar strategy with my total portfolio, although I maintain a weight in various asset classes almost all the time (ie, stocks, pfd stocks, bonds and cash), but with a goal to grow the overall portfolio income. So if one part of my portfolio starts looking overvalued or a little high priced, I'll reinvest available cash received from dividends and interest in another part of the portfolio that is looking like a little better value, whether its stocks, bonds or other assets.

    While I can see the downside of investing only in low / non dividend assets in a correcting market if you are living off your portfolio in some form, I'm guessing those who don't subscribe to the DGI theory would say the in correcting markets , they would be sitting mostly in cash , and can live off that . I see that point of view and if someone is happy with that , best wishes for them . A little surprised i haven't seen some posters comment that they are all in cash and will live off it until the correction is done (whenever that is ) , as they are more concerned about capital preservation that portfolio income.
    Jan 12, 2016. 05:43 PM | 1 Like Like |Link to Comment
  • Boston 'T' Party? Investors Should Consider Abandoning This Ship  [View article]
    What keeps me tethered to VZ FIOS is the ability to watch live sports on my big screen tv as well as HBO programs. Don't watch much of the traditional channels. So not sure if there are options that allow for this yet? If so, i may look at the cord cutting someday.
    Jan 3, 2016. 12:54 AM | 8 Likes Like |Link to Comment
  • Elementary, My Dear Watson, STAG Is Truly Cheap  [View article]
    Brad - we'll just have to agree to disagree on this. While there may be some secondary / tertiary properties that can be re-leased, a well located property in a primary market is , in general, going to be easier to re-lease.We won't know how STAG's strategy works for a couple years as more leases roll off.
    Dec 28, 2015. 09:24 PM | 4 Likes Like |Link to Comment
  • Elementary, My Dear Watson, STAG Is Truly Cheap  [View article]
    But the main way they can buy new properties is by issuing more stock, which is expensive at these levels. Once their acquisition machine slows down , their avg occupancy will start to drop as their properties in difficult to lease secondary markets will start to go vacant.

    At some level the stock may turn into a value play, but not there yet.
    Dec 28, 2015. 01:24 PM | 3 Likes Like |Link to Comment
  • Elementary, My Dear Watson, STAG Is Truly Cheap  [View article]
    This short avg lease is a negative, as STAG's holdings are generally in secondary markets , they are difficult top re-lease, let along get rent increases.
    Dec 28, 2015. 01:21 PM | 3 Likes Like |Link to Comment
  • NorthStar Realty Finance's Huge Dividend And Its Huge Undervaluation Make It A Buy  [View article]
    Not one of you better efforts David, besides totally blowing it on the dividend raise , you're basically just done a short cut and paste from the company presentation.
    Dec 28, 2015. 10:56 AM | 5 Likes Like |Link to Comment
  • VEREIT: Between A Rock And A Hard Place?  [View article]
    Very strange article coming so soon after his last bash piece of VER , considering the positive things he had to say about VER and the new CEO when he was still involved with VER. If he is trying to make a name for himself and his new firm, he is not doing a very good job of making a positive impression. I would certainty cross then off any list I had them on.
    Dec 22, 2015. 11:16 PM | 3 Likes Like |Link to Comment
COMMENTS STATS
301 Comments
887 Likes