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  • Don't Get Duped By Senior Housing Properties' 9.2% Dividend Yield [View article]
    While I do not know about the other investors on this board, SNH is a good opportunity at the current level. Solid management, the dividend is well covered, and the company trades at just over book value. The company is clearly undervalued.
    Oct 13, 2015. 12:03 AM | Likes Like |Link to Comment
  • Invest Like Buffett: Picking An Intelligent Manufactured Housing REIT [View article]
    I have not looked at Forest City since they called my 7.38% notes (FCY) about two years ago, but can't recall them owning manufactured housing. NorthStar Realty Finance (NRF) owns 29,000 pad sites in the sector, but unlikely they will part with them due to the dependable cash flow.
    Oct 12, 2015. 04:24 PM | Likes Like |Link to Comment
  • Monmouth's 6.7% Dividend Increase: Is It Time To Buy This FedEx Landlord? [View article]
    Good article on this slow growing but very solid company. For an industrial REIT, you would be hard pressed to find one with better tenant quality. However, the dividend growth has been slow.

    speak2me makes a good point regarding owning the company's preferreds. I've been an owner of those for years and they have paid me every quarter. Even better if held in an IRA accounts, as the dividends are not taxable until you take a distribution from the account.
    Oct 11, 2015. 03:44 PM | Likes Like |Link to Comment
  • Invest Like Buffett: Picking An Intelligent Manufactured Housing REIT [View article]
    At least for now, the mobile home park sector looks fairly valued and there are no bargains. It's unfortunate that there are only three players in this sector, but many of these parks are Mom and Pop owned, and some of the profitable parks are passed down to family members.

    However, there is one place to invest in this sector, and income is normally very stable for mobile home parks. All three of these companies have preferred stock outstanding. I've been an owner of UMH's 8.25% A shares since the first week they were issued, but they are callable next near. The preferred shares of ELS are trading a little high at $26. However, I like and own the 7.125% preferred shares of SUI. They are trading at $25.50 and are not callable until November 2017.
    Oct 11, 2015. 09:57 AM | 1 Like Like |Link to Comment
  • Investing In CorEnergy's Critical Assets, Not So Concerned With Tenant Risk [View article]
    I also own some WPG, both the common and preferred, so I also can't wait for them to exit the space and allow WPG to re-purpose the place that will draw even more traffic to their locations. From my understanding on WPG, they are only getting $3-$4 per square foot from SHLD and JCP.

    In regards to spell check, there is a small Check Spelling button right above the larger REPLY button.
    Oct 10, 2015. 08:31 PM | Likes Like |Link to Comment
  • Investing In CorEnergy's Critical Assets, Not So Concerned With Tenant Risk [View article]
    While I respect the author of the article, I would expect that EXXI will file for bankruptcy in the next 6-9 months. Owning CORR is like having a REIT that generates 40% of rent from Sears or JCP. However, that real estate could be recycled into Dick's Sporting Goods, etc. Not much left here if the tenant closes down shop.

    Best wishes to all investors here.
    Oct 9, 2015. 11:40 PM | 1 Like Like |Link to Comment
  • Preferred Stock Market Q3 2015: Investment Grade Preferred Stocks Available Below $25 [View article]
    David, no there is not much written in unrated preferreds. Many of these are solid investments, if an investor remains diversified. I'm actually doing some research this evening on a number of unrated issues, and there are many good companies out there. Even back in 2008-2009, no major REITs filed for bankruptcy, with the exception of GGP. They only filed as they were not able to refinance debt, and all preferred shareholders were made whole.
    Oct 7, 2015. 09:39 PM | Likes Like |Link to Comment
  • Preferred Stock Market Q3 2015: Investment Grade Preferred Stocks Available Below $25 [View article]
    Thanks for the response Doug. Some companies that have only one or two issues of preferreds do not get them rated. As a CPA, I can normally look at their balance sheet and interest coverage ratio to see if they are worthwhile investments. I avoid the hotel REIT sector like the plague. Solid REITs like UBP have issued preferreds for years and have very solid earnings and have never missed a payment.
    Oct 7, 2015. 09:34 PM | Likes Like |Link to Comment
  • Preferred Stock Market Q3 2015: Investment Grade Preferred Stocks Available Below $25 [View article]
    Doug, thanks for another great article in the preferred sector. Due to the income taxes that investors may have to pay on these shares, many are probably best held in a tax deferred account.

    While I know you normally like investment grade preferreds (and for a good reason), there are many good opportunities in the unrated sector now. I'm currently investing a portion of my portfolio in unrated preferreds that have a yield around 7%. Some of these can be called soon, but they are still a good investment if you can purchase right around $25 as many trade with accrued dividends. CBL-D, DFT-B, CDR-B and PEI-B are just several examples of these. In light of current market conditions, they make good investments, as long as investors are diversified. As many of these can be called soon and the coupon rate is around 7%, then tend to stay around the $25 price level.

    kaptain lou
    Oct 5, 2015. 09:09 PM | Likes Like |Link to Comment
  • Dear Mr. Market, I Am Patiently Holding Shares In Lexington Realty [View article]
    Keep holding those shares Brad. It will just take a little time for the market to realize the true value of this company. The company is undervalued. Like I tell a friend of mine - I love the stock market, because you can sometimes buy $100 of real estate for $75. At least for now, I am loving some of these corrections on REITs, because I can clearly buy them for less than Fair Market Value of their asset.

    Where else can true real estate investors find these values?
    Oct 4, 2015. 09:23 PM | Likes Like |Link to Comment
  • Forget The Underdog, CorEnergy Is A Cinderella Story [View article]
    Looks like Cinderella did not get home by midnight on this stock. EXXI has billions in losses and they are the #1 tenant. GIGS was this company's Achilles Heel.
    Oct 3, 2015. 11:35 PM | Likes Like |Link to Comment
  • A Risky 92% Upside At CorEnergy [View article]
    EXXI just posted a huge loss and more are to come in the next 12 months. They can't make money with oil and gas at the current price levels. I expect they will file bankruptcy in the next year and will default on the lease with CORR.

    I'm short CORR and don't know if I will even have to cover my position. If oil moves, it will clearly be at reduced levels. Best case scenario is that the lease is renegotiated. CORR longs are making statements that are not even rational, based on current oil and gas prices.
    Oct 3, 2015. 10:53 PM | 5 Likes Like |Link to Comment
  • Mr. Market Wake Up, CorEnergy Is Not An MLP [View article]
    CORR has been one of my largest stock gains in 2015, as I shorted the company. I shorted shares prior to their GIGS purchase and have never looked back. While I held onto their preferreds for a little while, those were sold after the Grand Isle Gathering System deal was announced.

    EXXI had a loss of $1.7 BILLION for the last quarter, which equaled over $17 per share. I expect them to go bankrupt in the next 12 months, and then default on their lease agreement with CORR. I don't think there is any way EXXI can post a profit, based on the current price of oil and natural gas.
    Oct 3, 2015. 03:02 PM | 1 Like Like |Link to Comment
  • NorthStar: Is A 9% Yield Better Than A 13% Yield? [View article]
    Rubicon, thanks for a great article on the company. While the price on the common stock has been hammered over the past year, the yield and safety on the preferreds looks extremely attractive at the present time. Just yesterday the company authorized a $500M repurchase program, which suggest they feel the common is undervalued. However, I like the stability of preferred issues, as the market is unfairly punishing many REITs at the present time.
    Sep 30, 2015. 09:23 PM | 1 Like Like |Link to Comment
  • Incremental Improvements At Gladstone Commercial [View article]
    Thanks for the update on the positive moves being made by GOOD over the past year. The preferred stock issues certainly have some value to them, if they can be bought around par value. The common is certainly appealing to income investors, so depending on risk tolerance, an investor could buy a mix of both the common and preferred.
    Sep 23, 2015. 10:13 PM | Likes Like |Link to Comment