Week Ended 1/25/19

Earnings season returns Prologis kicked off earnings season this week with a mixed report.  Their 4Q18 was quite strong with continued same store NOI growth, but 2019 guidance came in a bit light relative to what analysts were anticipating.  Even with the lighter...

Week Ended 1/18/19

REIT Growth In recent months REITs have been outperforming the broader markets and fundamental data suggests this will continue.  Consensus estimates now show REIT growth in 2019 surpassing that of the S&P.  REITs have been cheaper than the S&P for a while,...

Week Ended 1/11/19

Trading a REIT with contractual cashflows Gladstone Commercial (GOOD) is one of the most reliable stocks we trade with a consistent dividend and slow yet steady earnings growth.  Its straight line fundamentals are not matched by its market price which is all over the...

Portfolio Analytics 4Q18

Welcome to the 2CHYP quarterly analytics.  Each quarter we analyze our holdings both at a portfolio level and at a company level. PDF link: 4Q18 Portfolio Analytics Kimco (KIM) 4Q18 update Kimco 4Q18 PDF CBL Properties (CBL) 4Q18 Update CBL 4Q18 update Macerich (MAC)...

Week Ended 1/4/19

What a start to 2019 Given that January has had only 3 trading days it is far too early to call it a trend, but it’s a great start. This past month you have probably gotten sick of hearing me whine about tax loss selling, but this first week of 2019 has gone a long...