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kaptain_lou

kaptain_lou
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  • One Liberty: The Little Triple Net Engine That Could (And 6.6% To Boot) [View article]
    Nice article on a small-cap triple net REIT. Their exposure to Office Depot concerns me a little bit, however, the company may be able to quickly lease these properties to another company. Haverty, while they don't have a credit rating because the company has next to nothing in debt, should be a stable tenant and will always need retail space.

    While I understand some concerns about the Brick & Mortar stores, Americans still love to shop. It's a favorite sport for many people.
    Apr 5 02:34 PM | 1 Like Like |Link to Comment
  • Digital Realty: Despite Turmoil, New Preferred Is Interesting [View article]
    Great article! Excellent article on one of the biggest players in the sector. The credit rating is split a little bit, at Baa3/BB+, but the company has great cash flow and has over 600 tenants. I've not seen a quality REIT issue a preferred at this rate in some time.

    While the company has certainly underperformed other REITs, income investors will certainly find this issue attractive.
    Mar 21 10:40 PM | Likes Like |Link to Comment
  • Sam Zell Owns Equity Lifestyle, Should I? [View article]
    Great and fair article on ELS. The company has been very well run.

    However, I have one "complaint". By pure coincidence, I was going to buy shares of ELS-C today and this afternoon the ask price really bumped up and I was not willing to pay close to $25 per share. They are a great holding in a retirement account for individuals looking for extra income. I'll just have to place my buy orders before your next article. :)

    Thanks for reminding investors about the preferred shares, as they are not often covered by many authors.

    kaptain lou
    Mar 18 08:55 PM | Likes Like |Link to Comment
  • Public Storage - Put The New Preferred In Storage, Not In Your Portfolio [View article]
    Thanks for another good article on the preferred sector. While the balance sheet of PSA is fantastic, the yield is just too low, especially if these securities are held in a taxable account.

    There are other and better opportunities out there at the present time.
    Mar 17 10:04 PM | Likes Like |Link to Comment
  • 2013 Delivers Higher Dividend Income At Lower Prices To Preferred Stock Investors [View article]
    Doug - I will comment on the new debt issuance by PSA. Considering the loan is only for one year, and rated about A3 for senior unsecured, I would expect the company to pay around 2-3%.

    The company currently picked up a number of properties, and has also purchased more shares of PSB, as they still control about 40% of the company.

    Also, as the loan is only for one year, it's quite possible the company may issued more common stock to pay off some of the loan. Considering the cost to issue new preferreds, it is probably a smart move by the company.
    Jan 1 07:53 PM | Likes Like |Link to Comment
  • 2013 Delivers Higher Dividend Income At Lower Prices To Preferred Stock Investors [View article]
    Thanks for your continued articles on preferreds. The Hughes family has done a wonderful job of managing the company over the past number of years as well.

    In 2014, I'll be upgrading my preferred portfolio with PSA and more shares of PSB.
    Jan 1 07:40 PM | Likes Like |Link to Comment
  • 2013 Delivers Higher Dividend Income At Lower Prices To Preferred Stock Investors [View article]
    Thanks for a good article on preferreds in 2013. Clearly preferreds were trading too high earlier in the year.

    As you mention in your article, some of the preferreds are still mispriced. I have long considered PSA to be the "gold standard" in preferrred investments, due to the fact the company has almost no debt. I'm not quite sure how the market can price AIV's preferred to offer the same yield, when there is clearly much more risk. The balance sheet if AIV is loaded with debt, although the interest rates on the debt are very reasonable at the current time.

    I'm taking advantage of the mispricing on the PSA preferred and will make them a large holding now that they pay nearly 7%.
    Dec 31 01:30 PM | 1 Like Like |Link to Comment
  • Aflac, Inc. Preferred Stock Redefines Long-Term Income Investing [View article]
    Doug, thanks for another good article on exchange traded debt securities. I saw this issuance when it first came out, but the coupon rate was too low for me to purchase at par. Now that the security has dropped in price and the yield is close to 6.5%, it is worth considering in the lower risk area of my portfolio.

    Holdings such as this are perfect for retirement accounts, as there is no tax to pay until I start taking distributions.
    Dec 18 09:36 PM | Likes Like |Link to Comment
  • Should You Buy Realty Income At Current Prices? [View article]
    Realty Income hit a new 52 week low today and there appears to be no end to the selling. At least for now, the REIT sector appears to be out of favor.
    Dec 2 10:43 PM | 2 Likes Like |Link to Comment
  • UMH Is Paving The Way With An Attractive 7.67% Dividend Yield [View article]
    Good article on UMH. The company has been around for many years and the Landy family has done a nice job of running the company. While the dividend decreased a few years ago, due to lower mobile home sales, the company is well run. Also, when looking at REIT stocks, I like to see significant insider ownership and the Landy family owns a fair amount of the company so they certainly have "skin in the game."

    While I only own a few shares of the common, and may add more to this position, the 8.25% preferred shares are a core holding of mine. It's another way to play the company, and works exceptionally well when held in a tax deferred account.
    Nov 28 10:57 PM | 1 Like Like |Link to Comment
  • Should You Buy Realty Income At Current Prices? [View article]
    Wonderful article that provides the historical valuation of O and the dividend rate the company has historically paid. While investors are still looking for investment income, I would advise against purchasing investments that are still overvalued based on historical valuations.

    Should interest rates rise in the future, due to reasons other than the Fed, I could see the company yielding 7%, which would value shares in the $31 dollar range.

    Thanks for a fair and balanced article.
    Nov 27 09:52 PM | Likes Like |Link to Comment
  • 7% Yielding Preferreds For Income-Hungry Investors [View article]
    You may want to try looking at Quantumonline.com. They have a good website if you need details on any particular preferred.
    Nov 17 08:58 PM | Likes Like |Link to Comment
  • Massive Cash Movement Outside Bonds - What's In It For You? [View article]
    Yes and No. Yes, GNI is guaranteed to be a losing investment when the trust expires. No, because I have found it almost impossible to short any shares! I've tried numerous times and my trade gets rejected every time.
    Oct 7 01:52 PM | Likes Like |Link to Comment
  • Commonwealth REIT - 7.8% And Going In The Right Direction [View article]
    rcray, I was actually looking at SIR over the weekend as a possible investment. They actually own some very good property. However, they are also managed by RMR, which causes me to hesitate purchasing shares. RMR manages all of the Commonwealth spinoffs, including GOV, HPT and SNH.

    Oddly enough, RMR also restructured their management agreement with SIR today as well.
    Sep 24 09:13 PM | 1 Like Like |Link to Comment
  • Commonwealth REIT - 7.8% And Going In The Right Direction [View article]
    Good article on a REIT that has really underperformed over the past few years. While I would not own the common shares, due to concerns about future performance, the senior unsecured debt of the company is worth a good look. CWHO is the ticker symbol for the 5.75% shares that the author mentioned. They are rated Baa3/BB- but are higher up in the capital structure than the preferred shares.
    Sep 24 09:06 PM | 1 Like Like |Link to Comment
COMMENTS STATS
264 Comments
156 Likes