Week ended 10/28/16

REIT earnings season is in full swing with a large number of our companies reporting along with some peer reports that give some insight into the industries of our holdings.  So far, the reports have been strong yet poorly received by the market.  CBL showed...

Week ended 10/21/16

2CHYP had a good week in both absolute terms and relative to REITs.  Some of the issues that had gotten overly cheap showed nice price recovery with AHH and IRT being particularly notable gainers.  We sold out of the IRT with hopes to be able to buy it back on the...

Week ended 10/14/16

Hersha hospitality has continued to perform well fundamentally, but the industry is threatened by slowing growth and oversupply in some markets. NYC is particularly oversupplied and this is a big MSA for HT. These troubles are compounded by Zika threat in Miami which...

Week ended 10/07/16

The fourth quarter has been ugly for REITs and we didn’t do any better.  Most REITs are in a fairly quiet period as they assemble their 3Q reports, so there has been minimal company news, but this absence was filled with a slew of macro worries. The economy is...

3Q2016 Update

3Q2016 Update Quarterly analytics are designed to keep you informed about portfolio performance, positioning and strategy. Performance The 3rd quarter of 2016 was an atypical quarter characterized by wild price swings and tepid fundamentals.  Our active management...