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The 10 Most Recent Messages By Reitnut

Take me back to where I was.
  • Date: 5/17/15 6:39 PM
  • Number: 78380
  • Recommendations: 4
I still don't get it. If total assets are $10.5 billion and liabilities are $4 billion, the net assets would be $6.5 billion; divided by 71MM shares outstanding is $91.50 per share. Green St's figure is modestly in excess of that, as they value
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  • Date: 5/17/15 6:25 PM
  • Number: 78379
  • Recommendations: 11
MonsterFluff, I am puzzled by one thing in your calculation: NAV is calculated on the basis of market value of assets net of debt, divided by the shares outstanding. You have "assets net of debt" of $3.407 billion. If there are 71.2MM
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  • Date: 5/17/15 5:58 PM
  • Number: 78378
  • Recommendations: 12
The NSC sector is a fertile place for new REIT investments; many of these are very well-run and have modest debt leverage, they are leasing up vacant properties, SS NOI growth has been quite good, and new supply is not an issue at all (after the
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  • Date: 5/17/15 5:47 PM
  • Number: 78377
  • Recommendations: 11
I still love ARE and AREEP, and have been buying a lot more of both. I exchanged emails with CEO Joel Marcus recently, and learned that, in his entire history in this business, market conditions have never been this good. A key factor is the
(Continued...)
  • Date: 5/17/15 5:40 PM
  • Number: 78376
  • Recommendations: 26
REITs' late Earnings Season has been quite good, with very few misses, many "beats" and higher guidance. Our space markets are doing well and supply, while increasing, is still at manageable levels in the vast majority of markets. And
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  • Date: 5/17/15 5:28 PM
  • Number: 78375
  • Recommendations: 7
Unlike most buyout rumors, this one probably has some validity. I know nothing about the background or about any serious talks, but HME is prime buyout material given its NAV discount and lack of clear succession plan. Coupled with the interest in
(Continued...)
  • Date: 5/17/15 5:22 PM
  • Number: 78374
  • Recommendations: 5
Thanks to you, too, Gear - I enjoyed the trip down Memory Lane! But, you may not miss me all that much - reports of my final departure, paraphrasing Mark Twain, are a bit exaggerated. :-)

R.
  • Date: 5/17/15 5:19 PM
  • Number: 78373
  • Recommendations: 5
Thanks so much for the very kind words, Jim - I am blushing as I type. And I am delighted that I was able to make a very modest contribution to your financial security.

I am doubtful that we will ever find the REIT bargains that we did
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  • Date: 5/17/15 5:14 PM
  • Number: 78372
  • Recommendations: 14
One important thing to remember is that lodging/travel is fairly economically sensitive and this coupled with the segments lack of long term leases at least to the end customer makes these REITs economically sensitive in my
(Continued...)
  • Date: 4/23/15 6:37 PM
  • Number: 78244
  • Recommendations: 46
Here’s a short post of the type I have threatened:

I have never been a big fan of hotel REITs, as this category lacks the protection of long-term leases, and results can be cyclical and affected by new developments that have not been as
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Total = 10

Take me back to where I was.
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