Week Ended 1/26/18

Earnings season returns Each quarter earnings kick off with some of the large caps reporting first.  While we are not in these names, the reports can provide a preview for our related REITs. Crown Castle (CCI) reported continued growth at a medium pace, but more...

Week Ended 1/19/18

Picking up cheap shares With REIT prices broadly dropping to start the year, it is difficult to sell our positions as they are all trading well below intrinsic value.  However, the stream of dividend income still affords purchase of new shares.  Today, we used our...

Week Ended 1/12/18

Interest rate related crash Outgoing FBRNY President Bill Dudley had some hawkish commentary indicating his preference for 4 hikes instead of 3 in 2018.  This sent interest rates up, and particularly on the short end of the curve.  REITs, unsurprisingly, dropped...

Week Ended 1/5/18

Volatility is back REITs went through a quiet period toward the end of 2017 where daily movements were not all that substantial.  I am happy to say that volatility is back.  2018 has already had days of movement greater than 1% for the index and 3%-5% for individual...