malach hamovess's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/130200/comments http://seekingalpha.com/article/175433-not-tempted-by-hospital-properties-trust-s-reinstated-dividend?source=feed#comment-778756 778756
There is room for some cap gain - 20 -25 percent if the common recovers enough to build a bigger implied floor under the preferred.]]> Thu, 26 Nov 2009 17:02:34 -0500
There is room for some cap gain - 20 -25 percent if the common recovers enough to build a bigger implied floor under the preferred.]]> http://seekingalpha.com/article/174521-developers-diversified-talf-capital-raise-helps?source=feed#comment-772326 772326 Each reduction in debt or increase in common equity strengthens the preferreds
the company could sell a half billion common shares, dilute the hell out of the common, and all that would happen is that the preferred would get even stronger]]> Sun, 22 Nov 2009 18:33:23 -0500 Each reduction in debt or increase in common equity strengthens the preferreds
the company could sell a half billion common shares, dilute the hell out of the common, and all that would happen is that the preferred would get even stronger]]> http://seekingalpha.com/article/173076-wal-mart-stores-inc-f3q10-qtr-end-31-10-09-earnings-call-transcript?source=feed#comment-757682 757682
It's somewhat like spending the night alone v. spending it wit a friend]]> Thu, 12 Nov 2009 16:00:39 -0500
It's somewhat like spending the night alone v. spending it wit a friend]]> http://seekingalpha.com/article/162730-foreign-real-estate-etfs-present-a-better-risk-reward-scenario?source=feed#comment-686021 686021
1. they may be investing in countries with a lack of transparency which in real estate can be devastating - imagine how a "legal" nationalization or "taking" can effect the value of your investment when all that's needed to effect such a "taking" is for a locality to connive with the central gov to raise real estate taxes.
2. the currency risk - if you need returns in dollars (to buy corn flakes at the 7-11 or to pay the Mexican girl who comes in at 2:00 pm for your "massage"), you'll find that local returns might be wonderful, but when translated they may provide a rude surprise. Bear in mind that it's a lot easier to effect an inflationary spiral in the real estate markets than in companies involved in international trade.

so, before you pay a 1 percent annual fee for someone to invest in foreign reits which have their own rich management comp structures, figure if that illusory return is really worth the risks, and don't make the 2004-2007 mistakes again.]]> Tue, 22 Sep 2009 09:16:58 -0400
1. they may be investing in countries with a lack of transparency which in real estate can be devastating - imagine how a "legal" nationalization or "taking" can effect the value of your investment when all that's needed to effect such a "taking" is for a locality to connive with the central gov to raise real estate taxes.
2. the currency risk - if you need returns in dollars (to buy corn flakes at the 7-11 or to pay the Mexican girl who comes in at 2:00 pm for your "massage"), you'll find that local returns might be wonderful, but when translated they may provide a rude surprise. Bear in mind that it's a lot easier to effect an inflationary spiral in the real estate markets than in companies involved in international trade.

so, before you pay a 1 percent annual fee for someone to invest in foreign reits which have their own rich management comp structures, figure if that illusory return is really worth the risks, and don't make the 2004-2007 mistakes again.]]> http://seekingalpha.com/article/158524-strategic-hotels-resorts-only-for-long-term-investors?source=feed#comment-685671 685671 Mon, 21 Sep 2009 20:29:41 -0400 http://seekingalpha.com/article/161941-kroger-gains-back-market-share-from-wal-mart?source=feed#comment-680375 680375
A drop in sales of air conditioners by Walmart doesn't mean it's still not taking food business from the grocers.]]> Thu, 17 Sep 2009 06:51:16 -0400
A drop in sales of air conditioners by Walmart doesn't mean it's still not taking food business from the grocers.]]> http://seekingalpha.com/article/161753-the-rally-really-was-sustainable?source=feed#comment-678739 678739 Wed, 16 Sep 2009 06:37:49 -0400 http://seekingalpha.com/article/161753-the-rally-really-was-sustainable?source=feed#comment-678738 678738 Wed, 16 Sep 2009 06:37:21 -0400 http://seekingalpha.com/article/159286-writing-cds-on-u-s-government-debt-what-s-the-point?source=feed#comment-655808 655808 Tue, 01 Sep 2009 05:57:06 -0400 http://seekingalpha.com/article/158524-strategic-hotels-resorts-only-for-long-term-investors?source=feed#comment-651561 651561
the preferred, at 4.50 including over $1 in accrued dividends, could quadruple on any sign of stability and a resumption of the div.]]> Fri, 28 Aug 2009 16:58:46 -0400
the preferred, at 4.50 including over $1 in accrued dividends, could quadruple on any sign of stability and a resumption of the div.]]> http://seekingalpha.com/article/158524-strategic-hotels-resorts-only-for-long-term-investors?source=feed#comment-648411 648411
it can increase 6x on a recovery even if the company sells a lot of common.

also Felco & its preferred]]> Thu, 27 Aug 2009 05:39:25 -0400
it can increase 6x on a recovery even if the company sells a lot of common.

also Felco & its preferred]]> http://seekingalpha.com/article/157231-broad-equity-market-refuses-to-break-down?source=feed#comment-637589 637589
After Labor Day the market will pop - it's just that no one knows which way.]]> Thu, 20 Aug 2009 06:24:49 -0400
After Labor Day the market will pop - it's just that no one knows which way.]]> http://seekingalpha.com/article/155702-judge-strikes-a-blow-to-spe-game?source=feed#comment-627437 627437
however, the court has upset that scheme which was not presented to screw the public or mislead anyone; rather it was presented to facilitate a more natural loan on the property which could be made without regard to the creditworthiness of the parent company, GGP

this practice had been challenged in other bankruptcy proceedings; but it wasn't until the GGP case, by far the largest real estate failure of the current meltdown, that a major decision effectively challenged the entire system

lenders had been deluding themselves into thinking that they could insulate their loans from the overall liquidity issues of a multi-property reit. they were just given a very rude wake up call which will reverberate throughout real estate finance for years to come]]> Wed, 12 Aug 2009 18:39:59 -0400
however, the court has upset that scheme which was not presented to screw the public or mislead anyone; rather it was presented to facilitate a more natural loan on the property which could be made without regard to the creditworthiness of the parent company, GGP

this practice had been challenged in other bankruptcy proceedings; but it wasn't until the GGP case, by far the largest real estate failure of the current meltdown, that a major decision effectively challenged the entire system

lenders had been deluding themselves into thinking that they could insulate their loans from the overall liquidity issues of a multi-property reit. they were just given a very rude wake up call which will reverberate throughout real estate finance for years to come]]> http://seekingalpha.com/article/155358-the-upside-case-for-family-dollar-stores?source=feed#comment-624521 624521
Last year, when the retail economy suddenly collapsed, FDS and its counterparts in soft goods - Ross Stores, TJX, were able to capitalize on the mass of surplus goods and move a lot of merchandise at bargain prices.

As retailers and suppliers acclimate to the new, low-spend economy, they're not as likely to get stuck with the mass of seasonal goods which must then be unloaded to discounters and close-out kings.

How this will affect FDS in not certain, but it probably won't help.]]> Tue, 11 Aug 2009 08:17:09 -0400
Last year, when the retail economy suddenly collapsed, FDS and its counterparts in soft goods - Ross Stores, TJX, were able to capitalize on the mass of surplus goods and move a lot of merchandise at bargain prices.

As retailers and suppliers acclimate to the new, low-spend economy, they're not as likely to get stuck with the mass of seasonal goods which must then be unloaded to discounters and close-out kings.

How this will affect FDS in not certain, but it probably won't help.]]> http://seekingalpha.com/article/151695-developers-diversified-s-results-contradict-retail-assumptions?source=feed#comment-604591 604591 Tue, 28 Jul 2009 03:18:26 -0400 http://seekingalpha.com/article/150693-why-china-s-stimulus-is-better-than-ours?source=feed#comment-599039 599039 Thu, 23 Jul 2009 05:20:49 -0400 http://seekingalpha.com/article/148571-chrome-os-will-strengthen-arms-assault-in-the-netbook-market?source=feed#comment-586952 586952 Tue, 14 Jul 2009 05:36:58 -0400 http://seekingalpha.com/article/145473-how-about-sears-holdings-as-a-reit?source=feed#comment-563252 563252
a top retailer - target - was evaluated for splitting off the r/e; even with great leases, the parts are not going to be greater than the whole, particularly when as in sears' case, the retail segment is pure drek]]> Fri, 26 Jun 2009 07:59:18 -0400
a top retailer - target - was evaluated for splitting off the r/e; even with great leases, the parts are not going to be greater than the whole, particularly when as in sears' case, the retail segment is pure drek]]> http://seekingalpha.com/article/143627-feds-to-california-drop-dead?source=feed#comment-549891 549891
the state has to reform its tax system and reform its legislative and referendum rule-making system.

it has the country's strongest economy and should easily be able to fund its own needs -- except they're a bunch of spoiled crybabies.]]> Wed, 17 Jun 2009 06:25:08 -0400
the state has to reform its tax system and reform its legislative and referendum rule-making system.

it has the country's strongest economy and should easily be able to fund its own needs -- except they're a bunch of spoiled crybabies.]]> http://seekingalpha.com/article/141064-strategic-hotels-resorts-a-five-star-hotel-reit-on-the-cheap?source=feed#comment-531097 531097
Don't forget - if the common survives, the preferred thrives!!]]> Wed, 03 Jun 2009 21:03:42 -0400
Don't forget - if the common survives, the preferred thrives!!]]> http://seekingalpha.com/article/138846-hard-time-deciding-who-to-vote-for-target-s-board?source=feed#comment-512450 512450 Thu, 21 May 2009 06:35:43 -0400 http://seekingalpha.com/article/138904-is-the-time-reit-for-real-estate-etfs?source=feed#comment-512447 512447 ]]> Thu, 21 May 2009 06:32:10 -0400 ]]> http://seekingalpha.com/article/134599-mack-cali-late-to-the-follow-on-party?source=feed#comment-485161 485161
Now we know where all that money "sitting on the sidelines" is going; it's recapitalizing the REITs.]]> Fri, 01 May 2009 07:25:10 -0400
Now we know where all that money "sitting on the sidelines" is going; it's recapitalizing the REITs.]]> http://seekingalpha.com/article/133424-commercial-real-estate-distressed-borrowers-not-distressed-properties?source=feed#comment-480119 480119
often the gains on these notes will be accelerated as these reits use available cash to repurchase notes at a discount (but at prices higher than on can purchase same).

it's not exciting, but it sometimes works.]]> Mon, 27 Apr 2009 20:05:27 -0400
often the gains on these notes will be accelerated as these reits use available cash to repurchase notes at a discount (but at prices higher than on can purchase same).

it's not exciting, but it sometimes works.]]> http://seekingalpha.com/article/132470-reits-look-ready-to-raise?source=feed#comment-473928 473928 ]]> Thu, 23 Apr 2009 08:46:56 -0400 ]]> http://seekingalpha.com/article/132285-open-letter-to-sec-wall-street-s-reit-bait-and-switch?source=feed#comment-472272 472272
haven't you been paying attention?]]> Wed, 22 Apr 2009 07:58:33 -0400
haven't you been paying attention?]]> http://seekingalpha.com/article/131830-commercial-real-estate-problems-continue-piling-up?source=feed#comment-470272 470272
]]> Mon, 20 Apr 2009 16:43:01 -0400
]]> http://seekingalpha.com/article/131747-the-impact-of-general-growth-s-bankruptcy-on-commercial-real-estate?source=feed#comment-469371 469371 Sure, it could start a buying program for GGP's properties, but why bother. It has plenty of room in its own portfolio to maximize value, and GGP's malls have similar characteristics. Moreover, they both have tons of department store anchors, and as we know, the dep't stores were all downgraded last week by S&P. Each of the major national mall anchors - Macy's, Penney's, Sears - has a soft credit rating and all are subject to weakening results unless consumer spending really picks up.
Simon has been reasonably conservative in the financing over the past few years; they have no reason to change now.]]> Mon, 20 Apr 2009 07:58:39 -0400 Sure, it could start a buying program for GGP's properties, but why bother. It has plenty of room in its own portfolio to maximize value, and GGP's malls have similar characteristics. Moreover, they both have tons of department store anchors, and as we know, the dep't stores were all downgraded last week by S&P. Each of the major national mall anchors - Macy's, Penney's, Sears - has a soft credit rating and all are subject to weakening results unless consumer spending really picks up.
Simon has been reasonably conservative in the financing over the past few years; they have no reason to change now.]]> http://seekingalpha.com/article/129835-staying-away-from-these-15-dividend-decreasers?source=feed#comment-454492 454492
the fact that dividend cuts are far more radical than increases should not come as a surprise - increases are expected and "normal"; cutting a div is a highly radical step and is done with fear and fury.]]> Tue, 07 Apr 2009 06:07:39 -0400
the fact that dividend cuts are far more radical than increases should not come as a surprise - increases are expected and "normal"; cutting a div is a highly radical step and is done with fear and fury.]]> http://seekingalpha.com/article/129827-why-federal-realty-looks-interesting?source=feed#comment-454485 454485 Tue, 07 Apr 2009 05:27:29 -0400