Week Ended 6/28/19

Yield capture Looking across REITs as well as the broader market, high yield is becoming harder to find.  However, there are still pockets of underpriced yield if one gets a bit creative with different levels of the capital stack or looks outside of traditional...

Week Ended 6/21/19

Declining cost of capital During the tightening cycle, REITs maintained earnings power through increased rental rates and occupancy counteracting the increasing interest expense caused by a higher Fed Funds rate which impacted just about all variable rate debt. Rents...

Week Ended 6/14/19

Tech IPOs continue to demonstrate market’s appetite for speculation CHEWY and Fiverr had tremendously popular IPOs this week, continuing the streak of cashflow negative companies achieving massive valuations.  Its starting to feel like 1999 all over again where...

Week Ended 6/7/19

REITWEEK Findings We had a productive week, meeting with most of the REIT CEOs of the companies we trade. Below, I will share some of the more impactful meetings. GMRE:  GMRE’s CEO is not a healthcare specialist, but rather a broader analyst who moves into spaces...