Postal Realty Trust Inc (NYSE:PSTL) Q1 2024 Results Conference Call May 8, 2024 9:00 AM ET Company Participants Jordan Cooperstein – IRAndrew Spodek – CEOJeremy Garber – PresidentRobert Klein – CFO Conference Call Participants Anthony Paolone – JP MorganStephen Dumanski – Janney Montgomery ScottJon Petersen – Jefferies Operator Ladies and gentlemen, greetings and welcome to…
RomoloTavani Back on October 12, 2023, I called Realty Income (NYSE:O) a strong buy because it had dipped significantly, offering a dividend yield of over 6%, an expected roughly 3% per share CAGR moving forward, and was trading at a 14% discount to its NAV despite historically trading at a premium to NAV. This presented…
Empire State Realty Trust, Inc. (NYSE:ESRT) Q1 2024 Earnings Conference Call April 25, 2024 12:00 PM ET Company Participants Heather Houston – Senior Vice President, Chief Counsel, Corporate & SecretaryTony Malkin – Chairman & Chief Executive OfficerTom Durels – Executive Vice President, Real EstateSteve Horn – Executive Vice President, Chief Financial Officer & Chief Accounting…
Independence Realty Trust, Inc. (NYSE:IRT) Q1 2024 Results Conference Call April 25, 2024 9:00 AM ET Company Participants Lauren Torres – Edelman Smithfield Scott Schaeffer – CEOJim Sebra – CFOMike Daley – EVP, Operations and PeopleJanice Richards – SVP, Operations Conference Call Participants Austin Wurschmidt – KeyBanc Capital MarketsNick Joseph – CitiAnthony Powell – BarclaysJohn…
Martin Barraud Lately, I have written a few negative articles on Realty Income (NYSE:O) and this has led some of its bulls to label me as a “hater”. But the reality is that I have no dog in this race. I am not shorting Realty Income, and I don’t stand to benefit in any way…
JillLang I’ve been buying Healthcare Realty Trust (NYSE:HR) in recent weeks as REITs pulled back in response to sticky inflation numbers and comments from the Fed that they’re willing to keep base interest rates higher for longer. HR is an internally managed medical office building (“MOB”) REIT with a 688-property portfolio at the end of…
Pattanaphong Khuankaew/iStock via Getty Images Shares of Terreno Realty (NYSE:TRNO) have fallen out of favor recently again, certainly after peers warn about slower rental growth, declining occupancy levels, all while the Fed seems to hold rates steady for a longer than anticipated time period. This all hurt the share price as of recent, and while…
First Industrial Realty Trust, Inc. (NYSE:FR) Q1 2024 Earnings Conference Call April 18, 2024 11:00 AM ET Company Participants Art Harmon – SVP of IR and MarketingPeter Baccile – President and CEOScott Musil – CFOJojo Yap – CIOPeter Schultz – EVPChris Schneider – EVP, Operations Conference Call Participants Ki Bin Kim – TruistRob Stevenson –…
hyejin kang Investment thesis My initial bullish thesis about Realty Income (NYSE:O) did not age well as the stock delivered a -7.6% total return since December 2023, notably lagging behind the broader market. Despite a decent latest earnings report, the share price dipped due to ongoing uncertainty surrounding the Fed’s monetary policy, which is weighing…
GrandviewGraphics/iStock via Getty Images ACRES Commercial Realty’s (NYSE:ACR) remarkable discount to its book value remains steep even after its 50% 1-year rally. The commercial mortgage REIT last reported a GAAP book value per share of $26.65 at the end of its fiscal 2023 fourth quarter, this was a sequential increase of $1.58 per share primarily…
AerialPerspective Works Vornado Realty’s (NYSE:VNO) 1-year rally has been incredible with the REIT now trading for 11.4x its annualized fiscal 2023 fourth quarter FFO. The Manhattan-focused office REIT generated fourth-quarter FFO of $0.63 per share, down 9 cents from its year-ago comp but outperforming consensus estimates by roughly 2 cents. The REIT’s common shares staged…
Allkindza Realty Income Corporation (NYSE:O), otherwise known as the monthly dividend company, has slumped by nearly 10% since the turn of the year, leaving its investors in unfamiliar territory. Data by YCharts The real estate investment trust’s drawdown isn’t unwarranted because salient metrics suggest its poor market performance was long overdue. However, the question becomes:…
arcady_31/iStock Editorial via Getty Images Kimco Realty Corporation (NYSE:KIM) is a well-managed real estate investment trust that is profiting from robust growth in rental rates in its metropolitan area-focused real estate portfolio. The REIT also has growing portfolio occupancy and in 4Q hiked its quarterly dividend pay-out to $0.24 per share. The shopping center trust’s…
airdone With a market capitalization as of this writing of $45.39 billion and an estimated enterprise value of $70.11 billion, Realty Income (NYSE:O) is one of the largest publicly traded REITs on the planet. The company experienced a bit of a boost to its size earlier this year when management completed the acquisition of another…
CalypsoArt I last wrote a bullish note on Realty Income (NYSE:O) in October here. The argument was its 6%+ yield, unmatched real estate diversification, conservative balance sheet, and lower-than-normal valuation were quite attractive for new investors. My earlier title still sums up the situation best, “Realty Income: Getting More Interesting With Same Price As 2015.”…
designer491 Federal Realty Investment Trust (NYSE:FRT) is a top choice for a passive income investors that value visibility of FFO and dividend growth as well as long-term appreciation potential. Federal Realty Investment is one of the oldest U.S.-focused real estate investment trusts in the United States that has delivered consistently strong results for shareholders in…
Thanakorn Lappattaranan/iStock via Getty Images Realty Income (NYSE:O) is one of the largest REITs in the world. However, the company continues to be punished by strong interest rates. A 5% dividend yield is not great from a company that trades at a premium when bonds are providing an even higher yield. Despite that, we recommend…
PeopleImages/iStock via Getty Images We previously covered Digital Realty Trust (NYSE:NYSE:DLR) in December 2023, discussing why we maintained our Buy rating for the stock, thanks to its improved monetization rate and impressive generative AI tailwinds through 2027. Combined with the announced Data Center partnership with Realty Income (O)/ Blackstone (BX), we believed that DLR remained…
MasaoTaira Summary In our last update on CTO (NYSE:CTO), we moved the shares from a Buy to a Hold primarily due to the near-term headwinds posed by the WeWork bankruptcy. The shares had remained rangebound since the last article, and we added to our position in the low-16s. The Q4 earnings report blew past our…
CTO Realty Growth, Inc (NYSE:CTO) Q4 2023 Earnings Conference Call February 23, 2024 9:00 AM ET Company Participants Matthew Partridge – Chief Financial Officer John Albright – President and Chief Executive Officer Conference Call Participants Floris Van Dijkum – Compass Point Robert Stevenson – Janney Montgomery Scott Matthew Erdner – JonesTrading John Massocca – B….
Pekic/E+ via Getty Images Introduction If you’re like the woman in the picture above and wondering where to invest your money, then look no further than Agree Realty (NYSE:ADC). Since first starting my investment journey and focusing on REITs, Agree Realty was one that really stood out to me. Although their big brother Realty Income…
Seven Hills Realty Trust (NASDAQ:SEVN) Q4 2023 Results Conference Call February 21, 2024 11:00 AM ET Company Participants Kevin Barry – Senior Director of Investor Relations Tom Lorenzini – President and Chief Investment Officer Fernando Diaz – Chief Financial Officer and Treasurer Conference Call Participants Matthew Erdner – JonesTrading Chris Muller – Citizens JMP Operator…
peeterv/iStock via Getty Images Franklin BSP Realty (NYSE:FBRT) like other mortgage REITs has been fighting the Fed for the last two years with a $5 billion commercial real estate loan portfolio spread across 144 loans as of the end of its recently reported fiscal 2023 fourth quarter. This portfolio is heavy on multifamily loans with…
Blacqbook Arbor Realty Trust’s (NYSE:ABR) Q4 2023 earnings call just came out. With it came an update on its financial results and the health of its multifamily loan portfolio, most of which is coming to maturity soon. I covered it twice in December, the first time giving my long-term view of the business and the…
StudioEasy Overview As an investor that values dividend income, REITs hold a valuable part of my portfolio as they can provide unique exposure to the real estate sector and usually have yields larger than traditional stocks. In the case of Independence Realty (NYSE:IRT), the dividend yield doesn’t quite meet my needs at 4.5% but the…
Start Time: 10:00 January 1, 0000 11:15 AM ET Arbor Realty Trust, Inc. (NYSE:ABR) Q4 2023 Earnings Conference Call February 16, 2024, 10:00 AM ET Company Participants Ivan Kaufman – President and CEO Paul Elenio – EVP and CFO Conference Call Participants Steve Delaney – Citizens JNP Jay McCanless – Wedbush Jade Rahmani – KBW…
Acadia Realty Trust (NYSE:AKR) Q4 2023 Results Conference Call February 14, 2024 11:00 AM ET Company Participants Jeff Winston – Senior Associate in Asset Management Ken Bernstein – President and CEO John Gottfried – Executive Vice President, Chief Financial Officer Stuart Seeley – Senior Managing Director of Strategy and Public Markets A.J. Levine – Senior…
Kimco Realty Corporation (NYSE:KIM) Q4 2023 Earnings Conference Call February 8, 2024 8:30 AM ET Company Participants David Bujnicki – Senior Vice President of Investor Relations & Strategy Conor Flynn – Chief Executive Officer Ross Cooper – President & Chief Investment Officer Glenn Cohen – Chief Financial Officer Dave Jamieson – Chief Operating Officer Conference…
WendellandCarolyn Kite Realty Group Trust (NYSE:KRG), founded in 1960 and headquartered in Indianapolis, IN, is a REIT that owns, acquires, (re)develops, and operates open-air shopping centers and mixed-use assets across the country. With a very well-diversified portfolio, remarkable recent growth, and a healthy solvency profile, this REIT seems to have a lot of potential. Additionally,…
vitpho/iStock via Getty Images This article was coproduced with Wolf Report. I don’t mind sounding like a broken record. In fact, I rather like it. It implies that I’m of a high conviction in the companies where my stakes are the highest. So, when I am updating here on Agree Realty Corporation (NYSE:ADC), a company…
schalkm Vornado Realty (NYSE:VNO) Series N Preferreds (NYSE:VNO.PR.N) is now one of the largest hybrid fixed income securities I have in my income portfolio after a late 2023 buying spree that doubled my position. This article intends to expand the rationale behind this action, building on the bullish thesis put forward for the preferreds when…
J. Michael Jones Summary Realty Income Corporation (O / “Realty”), “The Monthly Dividend Company”, is an S&P 500 company and member of the S&P 500 Dividend Aristocrats index. It “invests in people and places to deliver dependable monthly dividends that increase over time.” Its monthly dividends are supported by the cash flow from over 13,000…
Aleksandra Zhilenkova/iStock via Getty Images Written by Nick Ackerman. All it took was the expectations for rate cuts next year, and that sent the risk-free Treasury Rates reeling lower. Subsequently, we also saw the pressure come off of the real estate investment trust (“REIT”) space, and we’ve seen a massive rally from the latest lows….
Hispanolistic Physicians Realty Trust (NYSE:DOC) is a leading MOB-focused healthcare REIT that offers passive income investors a high quality dividend and portfolio growth in the lucrative medical office industry. Healthcare spending is a long-term uptrend in the U.S. and with the aging of the U.S. population driving healthcare expenditures, I think that Physicians Realty Trust…
ariya j/iStock via Getty Images Introduction It seems like every time I turn around, Arbor Realty Trust (NYSE:ABR) is facing some sort of headwinds. The biggest headwind always seems to be short attacks, which affects the stock price. I last covered ABR back in August. In that article, I discussed the strong financial growth over…
z1b It pays to invest in things that form the backbone of the economy, and what is a better example of that than the U.S. Postal Service, which since its inception has delivered for the American public come rain or shine. While the USPS is an independent agency of the federal government that you cannot…
Kwarkot Introduction To say 2023 has been an eventful year for Arbor Realty Trust (NYSE:ABR) would be an understatement. The company saw significant fluctuations in its share price over the year, from a low of just over $10/share to a high of close to $18/share. This was in no small part due to the short…
pastorscott/E+ via Getty Images Universal Health Realty Income Trust (NYSE:UHT), founded in 1986 and headquartered in King of Prussia, PA, is a healthcare REIT that invests in and leases healthcare and human service related facilities, such as medical/office buildings, acute care hospitals, behavioral healthcare hospitals, specialty facilities, free-standing emergency departments, and childcare centers. Its portfolio…
LPETTET If you do what everyone else does, you’re going to get the same results that everyone else gets. – Charlie T. Munger While some of the most reliable valuation indicators show the S&P 500 index in overvaluation territory, it is well known that much of the excitement is concentrated in just a few stocks….
Maryana Serdynska/iStock via Getty Images Independence Realty Trust, Inc. (NYSE:IRT) is a REIT mainly involved in acquiring, managing, and improving multi-family apartment communities within secondary markets. Beyond its diverse portfolio in attractive markets, the fast operating growth, and the conservative use of leverage, Independence Realty’s shares trade at a huge discount to NAV, making the…
batuhanozdel/iStock via Getty Images Empire State Realty Trust, Inc. (NYSE:ESRT) has had a stellar year against wider doom calls from bears about the end of urban US office real estate. The REIT is up 44% year-to-date to cap a stunning recovery from a Fed-induced selloff. Whilst there are concerns about whether or not the rally…
martin-dm Shares of Kimco Realty (NYSE:KIM) have been trading towards the higher end of the trading range this year, fueled by a rather substantial decline in interest rates in recent weeks. 2023 has been rather uneventful until the summer when Kimco announced a substantial (share) deal in an effort to gain scale, deliver on synergies…
elxeneize Arbor Realty Trust (NYSE:ABR), as an mREIT, primarily does its business by giving loans in the real estate space. As a sector, mREITs have been among the most hated of investments by the market, and it’s not a surprise. Most mREITs are not well-run, with shoddy processes of origination that lead to defaults and,…
Walgreens is Realty Income’s largest client at 3.9% of Annualized Contractual Rent. patty_c/iStock Unreleased via Getty Images Realty Income The stock market (as measured by the S&P 500) has been strong this year (up over 15%), but if you strip out the “Magnificent 7” mega-cap stocks, the rest of the market has largely struggled. And…
MasaoTaira Shares of Federal Realty (NYSE:FRT) have not been immune from the impact of rising rates on the real estate sector with its shares down by about 14% over the past year. This comes despite the fact that FRT has raised its dividend 56 consecutive years—the longest such streak in the industry. Given that track…
Lemon_tm In a recent article, I predicted that Realty Income (NYSE:O) would report strong 3rd quarter results. The reason why I felt so confident about it is that most of its net lease peers had already released their results and they had been great across the board: VICI Properties (VICI): Beat Essential Properties Realty Trust…
KanawatTH We previously covered Realty Income (NYSE:O) in August 2023, discussing the massive pessimism embedded in its stock valuations and prices, worsened by the sustained share dilution to fund the aggressive acquisition plans. The elevated interest rate environment and highly leveraged REIT business model had triggered its eye-watering interest expenses, resulting in impacted profitability. While…
contrastaddict Kimco Realty Corporation (NYSE:KIM) executed well in the third quarter with FFO customarily exceeding the trust’s dividend pay-out by a very wide margin. Though the REIT reported a QoQ decrease in occupancy, the fundamentals in the business align well and the trust enjoys same-store net operating income growth. With the U.S. economy chugging along…
scyther5/iStock via Getty Images Agree Realty Corporation (NYSE:ADC) has demonstrated a period of significant investment and development, channeling resources into a substantial number of retail net lease properties and completing several projects through its Developer Funding Platform (DFP). Despite a dip in net income per share, the company’s financial health is underscored by growth in…
IR_Stone The real estate sector as a whole has been one of the worst performing sectors in 2023 and for much of the past year. As investors and consumers alike have endured rising interest rates, this too has impacted the REIT sector that tends to rely on debt to grow, due to the structure of…