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The 10 Most Recent Messages By Reitnut

Take me back to where I was.
  • Date: 7/6/14 7:25 PM
  • Number: 77086
  • Recommendations: 14
NRF has always been an interesting REIT, and has been more difficult to understand than quantum physics. Investors are, essentially, buying David Hamamoto, who owns 1.6MM shares and who is sort of a real estate rocket scientist - perhaps even a mad
(Continued...)
  • Date: 7/6/14 7:09 PM
  • Number: 77085
  • Recommendations: 30
I would like to suggest two, one a pfd and the other a REIT common.

CORpA seems to always trade at a discount relative to other REIT pfds, for no good reason. At a time when quality pfd names yield just over 6%, e.g., the PSAs, KIMs, PSBs
(Continued...)
  • Date: 6/29/14 6:49 PM
  • Number: 77054
  • Recommendations: 17
If the economy is about to flower from here (a big IF), hospitality REITs probably might be a good segment to invest in now

I agree. Based on my observations, the hotel industry has another two years of good growth ahead of it. I
(Continued...)
  • Date: 6/29/14 6:36 PM
  • Number: 77053
  • Recommendations: 25
We should keep in mind that FFO is almost meaningless, as it adds back real estate depreciation to GAAP net income but ignores the very real cost of capital expenditures that are necessary to keep commercial properties attractive and competitive.
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  • Date: 6/22/14 6:55 PM
  • Number: 77031
  • Recommendations: 80
Here is a post I did a few weeks ago for SNL's "Block Party." Most of you are aware of the dangers noted below, but thought I'd post it anyway - as all of us have been snagged at one time or another by the "Trolls"
(Continued...)
  • Date: 6/22/14 6:42 PM
  • Number: 77030
  • Recommendations: 14
Maybe Ralph can add his expertise in explaining some of the inner workings of this process

I don't think there is any magic in this process. ROIC was offering a fairly large number of shares in relationship to its shares previously
(Continued...)
  • Date: 6/22/14 6:28 PM
  • Number: 77029
  • Recommendations: 4
Or is there something about the forced conversion that might be harmful to the preferred shareholders?

No, not really. As you point out, holders must keep in mind that the premium in the pfd will erode over time. We are just
(Continued...)
  • Date: 6/22/14 6:22 PM
  • Number: 77028
  • Recommendations: 23
I know all that, but I'm curious WHY roic pays out a higher percentage of AFFO per share and if it is sustainable.

There are lots of reasons why some REITs' payout ratios are higher than others. Lower payout ratios tend to be
(Continued...)
  • Date: 6/8/14 7:56 PM
  • Number: 76979
  • Recommendations: 36
Despite REITs hitting highs, there are still some pretty good REITs out there with 4% yields, good growth prospects and selling at very modest NAV premiums (even small discounts). Here are four 4%-ers I'm looking to add to at very close to current
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  • Date: 6/8/14 7:37 PM
  • Number: 76978
  • Recommendations: 14
I'd be curious to know if you have an opinion on why they are able to distribute far more dividends than other REITS relative to their NAV premium. 3/5ths of the 2013 dividend was return of capital.

Dividend rates are a function of
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Take me back to where I was.
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