Seeking Alpha

Workinhard

Workinhard
Send Message
View as an RSS Feed
View Workinhard's Comments BY TICKER:
Latest  |  Highest rated
  • You Can Absolutely, Positively, Retire Early... Maybe [View article]
    thanks, I haven't ventured into the healthcare.gov exchange yet but will look into it in a few years when I may need it if I want to retire before 65.
    Feb 28, 2015. 03:55 PM | Likes Like |Link to Comment
  • You Can Absolutely, Positively, Retire Early... Maybe [View article]
    Biggest impediment to retiring early (before 65) that is see is health insurance access and premiums. Would be interested in those that have retired early manage this. This could be a topic by itself.
    Feb 28, 2015. 01:22 PM | 2 Likes Like |Link to Comment
  • Don't Over Think It, Buy Johnson & Johnson [View article]
    I own some JNJ but it is looking a little technically weak here , its price and 50 day MA now under its 200 Day MA . That ties in with my expectation for the market to undergo a bit of a correction from here. So for my overall portfolio, I am letting excess dividends build up for now , looking for a better entrance point for JNJ and a few other DGI stocks in own.
    Feb 22, 2015. 04:12 PM | Likes Like |Link to Comment
  • Bluerock Residential Pays 8.5%, Should I Buy It? [View article]
    this is typical of a privately held reit , that $10 price was probably unchanged for years and was not a true reflection of the underlying value of the shares you were privately buying. I have a suspicion that if you looked at the financials over the years you would see a good portion of fees paid to the adviser.
    Feb 17, 2015. 10:36 PM | Likes Like |Link to Comment
  • An Attractively Priced 'Build-To-Suit' REIT That Yields 6.1% [View article]
    While there are definitely concerns with LXP, I own it because it trades at a low valuation and high dividend yield with a low payout ratio. Yes, build to suit is risky , mainly on the construction funding side, but they do have leases signed before they begin. As far as build to suit being special purpose, they are not so specialized that they couldn't be re-leased in 15-20 years when the leases expire. Their FFO growth is a concern, but they do have 5 of their build to suit projects coming online in 2015 and they do have some higher prices debt that they should be able to refinance this year at a lower rate. So I would expect some add'l FFO growth this year.

    I would not be surprised if they were bought out one day by one of their higher valued competitors. If O, NNN or WPC bought them, it would likely be an accretive deal if it was paid for in the acquirers stock.
    Feb 9, 2015. 12:22 PM | Likes Like |Link to Comment
  • Fifth Street Asset Management - BDC Manager With Permanent AUM Offers 74% Upside [View article]
    I don't see any dividends paid on this stock?

    FSAM mgmt doesn't have the best reputation, at least as far as its publically traded BDC's are concerned.
    Jan 13, 2015. 04:58 PM | Likes Like |Link to Comment
  • Why Is Anyone Buying Long-Term Treasuries? [View article]
    I buy long UST's not for the yield, but for the stock market crash protection they offer. So for me, I don't view it as yield chasing but as a stock market insurance policy that pays me interest. It's not a big % of my portfolio, but last year was a nice tailwind to my returns.

    Will yields go up someday - I am sure they will. I am not smart enough to time markets and interest rates so I focus on growing an income stream in my portfolio and UST Bonds provide a portion of that steady, reliable stream.
    Jan 12, 2015. 05:57 PM | 1 Like Like |Link to Comment
  • Why Is Anyone Buying Long-Term Treasuries? [View article]
    I have a permanent allocation to long treasuries in my portfolio model as stock market crash insurance that pays me interest. Now with rates as low as they are, I am not adding to that position but I haven't sold out either.
    Jan 12, 2015. 03:38 PM | 2 Likes Like |Link to Comment
  • The World's Largest Net Lease REIT Is Ripe For A Takeover [View article]
    I think the likely outcome is the BOD hires an experienced CEO to run ARCP , the dividend gets re-stated in a couple of months at a lower rate and the new mgmt team gets to work managing what they have - which is the largest NNN reit out there. While they may sell off low cap properties, I can't see a large scale portfolio liquidation or take-over by another REIT like O. Seems to be too many unknowns for a takeover of this size.

    Not sure if the BOD would back the idea of going private after just coming public a few years ago, and Corvex and other investors are just looking for a rise in the share price, which could be accomplished by hiring a good CEO and mgmt team, like they did with Commonwealth.

    As far as the financials, when ever they do come out, they will be squeaky clean as they will have been vetted by many eyes that know they have to be perfect. Only thing I am not sure about is what those financials will look like - I am guessing that they will have to include some large reserve for legal and litigation expenses. Might as well load them into 2014's numbers and get that expense out of future numbers.

    Not currently a shareholder but I will be interested once the financials come out and the dividend is established.
    Jan 8, 2015. 11:24 AM | 6 Likes Like |Link to Comment
  • American Realty -7% as accounting fallout continues [View news story]
    only problem with switching to other reits like O , WPC and NNN , is that that have had such a good run this year and are trading at very expensive levels. But if you are only worried about the steady income, then you are probably ok.
    Dec 25, 2014. 12:12 AM | 1 Like Like |Link to Comment
  • American Realty -7% as accounting fallout continues [View news story]
    Sorry Doyle, but you are wrong on this front. The 90% payout requirement is on net taxable income, not FFO. Many reits pay out much less than 90% of their FFO, in fact reit's that pay out 90% or more of their FFO are generally thought of as reits that will not have dividend growth or are in danger of a dividend cut. Do a quick Google search on this to verify for yourself.
    Dec 25, 2014. 12:06 AM | 1 Like Like |Link to Comment
  • American Realty -7% as accounting fallout continues [View news story]
    It's not 90% of FFO, it's 90% of net income, which is a much lower number.
    Dec 24, 2014. 11:58 PM | 2 Likes Like |Link to Comment
  • American Realty finds no issue with non-traded REITs [View news story]
    i think any new mgmt team will look to cut the dividend at least 50% , it would give them add'l funds to rebuild and reorganize, and allow them to raise the dividend back up over the years under their watch. Why would they want to struggle with a payout ratio or 80-90% when they can blame the cut on Nick the Slick.
    Dec 19, 2014. 11:59 PM | 2 Likes Like |Link to Comment
  • Lawsuit accuses Schorsch of ordering accounting shenanigans [View news story]
    Not sure what the outlook for ARCP will be as i believe they have to cut their dividend drastically as i imagine their FFO will be taking a hit from Cole Capital, legal and accounting fees . With the right manager , this could be a turn around, but i think there will be plenty of time to get on.

    I am also amazed by the size of stock grants that these individuals have been forced to give up - they were like pigs at the trough , looking to make millions of of the shareholders of ARCP.
    Dec 18, 2014. 10:29 PM | Likes Like |Link to Comment
  • A Peachy REIT That Pays Mouth-Watering Dividends [View article]
    My view is that mgmt is using the APTS franchise to buy retail centers to reach critical mass and then spin out the retail centers as a separate reit - which they will externally manage also. So is APTS absorbing the costs of starting up this retail reit (acquisition fees to external manager , mgmt fees , purchase costs, etc) - seems like they are. So mgmt is building a second source of fees for themselves as the external managers , and having the shareholders of APTS pay for it!

    You are right - they are smart managers.
    Dec 15, 2014. 10:05 PM | 7 Likes Like |Link to Comment
COMMENTS STATS
219 Comments
591 Likes