BTB Real Estate Investment Trust (OTC:BTBIF) Q1 2024 Earnings Conference Call May 7, 2024 9:00 AM ET Company Participants Michel Leonard – President and CEOBruno Meunier – Vice President of OperationsCharles Dorais Bedard – Senior Finance DirectorStephanie Leonard – Head of Leasing for BTB Conference Call Participants Matt Kornack – National Bank FinancialSumaya Syed –…
Boardwalk Real Estate Investment Trust (OTCPK:BOWFF) Q1 2024 Earnings Conference Call May 8, 2024 1:00 PM ET Company Participants Eric Bowers – Vice President-Finance & Investor RelationsSam Kolias – Chief Executive OfficerSamantha Kolias-Gunn – Senior Vice President-Corporate Development and GovernanceLisa Smandych – Chief Financial OfficerJames Ha – President Conference Call Participants Jonathan Kelcher – TD…
Ordinal Derangement Syndrome (ODS) is a real phenomenon. As a neutral observer from Bitcoin Magazine, I aim to address the misconceptions and dismissive attitudes toward Ordinals in the Bitcoin community, revealing the overlooked complexities and potential within what I term ‘Ordinal Derangement Syndrome’ (ODS). ODS emerges as a significant phenomenon within a segment of the…
ozgurdonmaz When our long-term competitive position improves as a result of these almost unnoticeable actions, we describe the phenomenon as “widening the moat.” And doing that is essential if we are to have the kind of business we want a decade or two from now. We always, of course, hope to earn more money in…
Morguard Real Estate Investment Trust (OTC:MGRUF) Q1 2024 Earnings Conference Call May 2, 2024 4:00 PM ET Company Participants Andrew Tamlin – Chief Financial Officer Conference Call Participants Jonathan Kelcher – TD SecuritiesTom Callaghan – RBC Capital Markets Operator Good afternoon, ladies and gentlemen, and welcome to the Morguard Real Estate Investment Trust 2024 First…
Primaris Real Estate Investment Trust (OTC:PMREF) Q1 2024 Earnings Conference Call May 2, 2024 8:30 AM ET Company Participants Alex Avery – Chief Executive OfficerPat Sullivan – President, Chief Operating Officer Rags Davloor – Chief Financial Officer Leslie Buist – Senior Vice President, Finance Morde Bobrowsky – Senior Vice President, Legal Graham Procter – Senior…
JHVEPhoto Shares of Amgen (NASDAQ:AMGN) surged after the company reported first quarter results, but the gain was largely driven by management comments related to the phase 2 trial of the long-acting obesity candidate maridebart cafraglutide (which was previously called AMG133), or MariTide as it is conveniently called. No results were reported, but the comments about…
Rockaa/E+ via Getty Images By Marc Dummer, Client Portfolio Manager | Mike Reidy, Director, Client Portfolio Manager As inflation proves stickier than anticipated, the role of real assets in a diversified portfolio becomes increasingly important for inflation mitigation. Historical data and recent trends underscore that real assets not only shield against inflationary pressures but also…
CHUNYIP WONG/iStock via Getty Images Introduction After discussing Warehouses De Pauw (OTCPK:WDPSF) here on Seeking Alpha, I wanted to have a closer look at other European REITs that are flying under the radar. Montea Comm. VA (OTCPK:MONSF) also is a Belgian REIT focusing on warehouse and logistics properties, which are predominantly located in Belgium and…
Choice Properties Real Estate Investment Trust (OTC:PPRQF) Q1 2024 Earnings Call Transcript April 25, 2024 9:00 AM ET Company Participants Erin Johnston – Senior Vice President-FinanceRael Diamond – President and Chief Executive OfficerNiall Collins – Chief Operating OfficerMario Barrafato – Chief Financial Officer Conference Call Participants Mark Rothschild – CanaccordMike Markidis – BMO Capital MarketsLorne…
deepblue4you An ongoing debate in the world of real estate is whether to invest in public or private real estate. We have written on this topic before, but it is time for an updated thesis because of the sharp contrast in opportunity between the modes of investment. Specifically, one is about 20% cheaper than the…
EschCollection Summer last year, I wrote a bullish article on Alexandria Real Estate Equities, Inc. (NYSE:ARE), where I upgraded the stock to buy due to the combination of the following aspects: Historically depressed P/FFO multiple. Strong like-for-like performance with no signs of deterioration going forward. Robust balance sheet, where the embedded structure of borrowings shields…
G0d4ather Introduction I had a thesis about Broadcom’s (NASDAQ:AVGO) stock in January 2024 with a “Strong Buy” rating. Since my first publication, AVGO’s price increased by more than 3%. The stock’s dynamic is better than S&P 500, meaning that my thesis is keeping up well. It seems that the market sentiment around semiconductor stocks is…
Megapixel8 While 2023 was challenging for US commercial real estate (CRE) investors, we believe that it’s “off the floor in 2024,” with real estate poised to start its price recovery sometime in the second half of the year. Think of it as a chain reaction, which starts with fed fund rate reductions. That should help…
Irina Gutyryak/iStock via Getty Images Introduction As most of my regular readers will know, I always try to incorporate the “bigger picture” into my research, as this allows me to get a good understanding of factors that may impact the stocks in our portfolios and on our watchlist. One of the most important things to…
Nirian Investment Thesis Vanguard Global ex-U.S. Real Estate ETF (NASDAQ:VNQI) is a sell due to poor macro-level prospects for international real estate investment holdings. While the fund has a low expense ratio, substantial dividend yield, and a high amount of diversification, its poor performance has negated these positive qualities. Looking forward, investors will likely see…
winhorse/iStock Unreleased via Getty Images Elevator Pitch Wharf Real Estate Investment Company Limited (OTCPK:WRFRF) [1997:HK] or Wharf REIC is rated as a Buy. Wharf REIC calls itself “one of the largest real estate companies in Hong Kong” with “flagship properties” like “Harbour City” on its corporate website. Harbour City, Hong Kong’s biggest retail mall, accounted…
Phillip Spears/DigitalVision via Getty Images Last week, I explained why I stopped buying real estate to buy real estate investment trusts, or REITs, instead. I recommend that you read the whole article, but in short, REITs (VNQ) are today a lot cheaper than private real estate. They also give you the benefits of leverage with…
Bridgemarq Real Estate Services Inc. (OTCPK:BREUF) Q4 2023 Results Conference Call March 28, 2024 10:00 AM ET Company Participants Phil Soper – President and CEOGlen McMillan – Chief Financial Officer Operator Good morning. My name is Joanna. And I would like to welcome everyone to the Bridgemarq Real Estate Services Inc. 2023 Fourth Quarter Results…
imaginima Industrial real estate has been red hot for the past 4 years with demand growth skyrocketing as companies clamor to earn superiority in logistics. In 2022 and 2023, the demand boom started to be matched by equally ambitious development of new warehouses. With the strong demand absorbing the new supply the sector is overall…
Lintao Zhang/Getty Images News Introduction Before I go into the topic in the title of this article, I would like to note that this is not my first article about Microsoft Corporation (NASDAQ:MSFT). I was bullish on MSFT until July 2023, but then switched to ‘neutral’. I consider MSFT to be one of the leading…
Feverpitched I have been in real estate quite literally my entire life. I was born into a family of real estate professionals. We moved to France when I was 5 due to my father’s real estate ventures, and I grew up visiting countless construction sites with him. Eventually, I went to university to study Finance…
Kelvin Cheng/iStock Editorial via Getty Images Article Thesis Alexandria Real Estate Equities, Inc. (NYSE:ARE) is a quality real estate investment trust that trades at an undemanding valuation while delivering compelling business growth and offering a solid income yield. At current prices, the REIT is an attractive income and value play. Overview Alexandria Real Estate Equities…
Chip Somodevilla/Getty Images News The benchmark index of Wall Street, the S&P 500 (SP500), surged by about 1% to a new all time high following fresh signals from the Federal Reserve and Chair Jay Powell about the rates path in 2024. While the updated FOMC projections highlight a slight shift in the rates dotplot at…
nazarovsergey/iStock via Getty Images Topline Summary and Update In my last update on ADC Therapeutics (NYSE:ADCT), I reaffirmed an opinion that the company was significantly undervalued, as they had an approved product with growing sales, and yet they traded below their cash on hand. Falling into penny stock territory, ADCT has since experienced a resurgence,…
Feverpitched/iStock via Getty Images The National Association of Realtors or “NAR” just announced a $418 million settlement in a deal that is supposed to “spare” home sellers from automatic commission to the buyer’s agent. This news seemed to get lots of publicity but in reality, I believe it is much ado about nothing. First of…
igoriss Automotive Properties REIT (OTC:APPTF) (TSX:APR.UN:CA) is a Vancouver-based Canadian automotive REIT with 77 income-producing automotive dealerships across Canadian urban centers (as of Dec 31, 2023). Recently the REIT has added a few new properties to its portfolio that have been accretive to its growth. I’m bullish on its prospects as Automotive Properties REIT grows…
metamorworks Stellus Capital Investment Corporation (NYSE:SCM) is a well-managed business development company with a focus on middle-market companies. The BDC just released earnings for the last quarter which showed that the dividend remained well-covered by core net investment income. The BDC still profits from a higher-rate environment, thanks to an aggressive floating-rate posture, and Stellus…
The specter of a U.S. economic recession has loomed for more than a year, yet it has not materialized. Nonetheless, a recent change in the yield curve indicates that the possibility of a recession remains significant and could be growing stronger. ryasick By Andrew Prochnow The specter of a U.S. economic recession has loomed for…
Chips, Cash and Dice VITALII BORKOVSKYI Canterbury Park Holding Corporation (NASDAQ:CPHC) has begun monetizing the valuable real estate surrounding their race track & casino with significant land sales and equity investments in related partnerships. The stock price is at $21.52 per share which reveals a current market cap of $105 million. Investors can purchase this…
Dream Office Real Estate Investment Trust (OTC:DRETF) Q4 2023 Earnings Conference Call February 15, 2024 5:00 PM ET Company Participants Michael Cooper – Chair, Chief Executive Officer Gordon Wadley – Chief Operating Officer Jay Jiang – Chief Financial Officer Conference Call Participants Lorne Kalmar – Desjardins Mario Saric – Scotiabank Pammi Bir – RBC Capital…
Introduction We live in a highly digitalized world, but most of humanity still uses physical goods to store value. The most used store of value in the world is real estate. It is estimated that approximately 67% of global wealth is held in property. Recently, however, macroeconomic and geopolitical headwinds have highlighted the weaknesses of…
Richard Darko/iStock via Getty Images Co-produced by Austin Rogers. In the post-pandemic years of 2021 through 2023, commercial real estate (with the exception of the office sector) enjoyed an almost uniformly strong environment characterized by rising occupancy and strong rent growth. At the tip of the pyramid in terms of strength is industrial real estate….
urbazon The S&P 500 and Magnificent 7 stocks are expensive and at their all-time highs. We believe inflation will remain stubbornly persistent and not return to a 2% inflation rate this year, resulting in both stocks and bonds losing their appeal due to their duration and interest rate risk. Consequently, we are reallocating from the…
hatchapong Investment Thesis Visa (NYSE:V) continues to be the leading player in the digital payments processing industry with a solid Q1 of 2024 illustrating the firm’s earnings power. Solid topline revenue growth has been complemented by great operating margin expansion and continued diversification into value-added services. Visa’s quantitative successes come despite a difficult macroeconomic environment…
With the previous articles, we found the disconnect between paid-for work and paid-for time. We also understood that if you want to get paid you have to provide work that is valuable for others. So when the person consumes the benefit of your work, the exchange happens value for value – work for sats. But…
DieterMeyrl Gold prices often move alongside the path of real interest rates. Trends in the US dollar are also important – the lower the greenback goes, the higher precious metals can soar. Today, real rates are up from the start of the year while the dollar is conspicuously quiet near the 103 mark. The US…
Wirestock/iStock via Getty Images The article looks at Australia’s three key investment markets to find lucrative opportunities. The three key investment markets in Australia are stocks, bonds, and real estate. The course of each is shown graphically in the charts below. Stocks Trading Economics dot com Stocks have been trading in the same range since…
utah778 Dear Baron Real Estate Income Fund Shareholder: Performance Baron Real Estate Income Fund® (MUTF:BRIFX, MUTF:BRIIX, MUTF:BRIUX) (the Fund) generated strong performance in 2023, gaining 15.51% (Institutional Shares) for the year ended December 31, 2023. The Fund’s 15.51% gain in 2023 exceeded the performance of the MSCI US REIT Index (the REIT Index), which rose…
xavierarnau By Andrea Deghi, Financial Sector Expert, Global Financial Stability Analysis Division, IMF’s Monetary and Capital Markets Department; Fabio M. Natalucci, Deputy Director, Monetary and Capital Markets Department; and Mahvash S. Qureshi, Assistant Director and Division Chief, IMF’s Monetary and Capital Markets Department The commercial real estate sector has been under intense pressure globally as…
skynesher Some investments, particularly those in high quality companies, can pay off rather fast. As an example, I need only look at a well-known REIT called Alexandria Real Estate Equities, Inc. (NYSE:ARE). This is a very specific type of REIT because it specializes in owning real estate dedicated to the life sciences space. Unlike the…
da-kuk Given the world’s turmoil, including the escalation, and broadening of the conflict in the Middle East and China’s continued aerial harassment of Taiwan ahead of the election, the capital and commodity markets have remained firm. February WTI fell about 1.7% last week and March Brent slipped around 0.65%. Shipping costs are rising as the…
JuSun Buying rental properties a common way to invest in real estate, and one way that many mom and pop investors use to measure investment returns from real property is to take the annual rental amount divided by the purchase price. While this ratio may be higher than the dividend yield of some REITs, it’s…
FG Trade Purpose I look at the high frequency weekly indicators because while they can be very noisy, they provide a good nowcast of the economy, and will telegraph the maintenance or change in the economy well before monthly or quarterly data is available. They are also an excellent way to “mark your beliefs to…
The SEC has been busy, meeting with all of the potential issuers of spot Bitcoin ETFs with active applications in December. These meetings have resulted in the universal adoption of a cash creation methodology by those issuers instead of “in kind” transfers, as is typical for other ETFs. Much has been said about this change,…
Tippapatt Originally published on November 21, 2023 By May Tong, CFA, Portfolio Manager, Asset Allocation; Jessica Bush, CFA, Portfolio Manager; Ben Rotenberg, CFA, CAIA, Portfolio Manager Real assets vs. nominal assets: Assessed through a three-dimensional lens Economic growth, inflation, and interest rates are key factors in assessing the performance of real vs. nominal assets. Isolating…
francois-roux/iStock Editorial via Getty Images KKR Real Estate Finance (NYSE:KREF) is swapping hands at a 14% discount to book value per share of $16.29 as of the end of its fiscal 2023 third quarter. This discount has tightened materially from 28% since I last covered the mortgage REIT whose most recent quarterly cash dividend of…
Marlon Trottmann The fact that real estate services companies Jones Lang LaSalle (NYSE:JLL) and CBRE Group (CBRE) came close to matching the S&P 500 index (SPY) performance this year, despite the massive headwinds in the industry, shows the power of having a robust business model and a low starting valuation. We believe this is quite…
airdone The healthcare sector is chock-full of lucrative opportunities ranging from highly speculative biotech plays to blue-chip dividend aristocrats. I have an interest in the full spectrum of healthcare tickers and have a curiosity about every industry in the sector attempting to find every possible linkage to the highly profitable sector. However, I have ventured…
Scott Olson The last time I covered Apple Inc. (NASDAQ:AAPL) was in September, following the release of the iPhone 15 lineup, which proved to be a reasonable success, largely attributed to the effective pricing strategy of the world’s most valuable company. At the time of publishing the article, the main topics were the risks associated…