“Elon Musk at It Again, Shares Cryptic Bitcoin Breakup Tweets,” Newsweek announced this morning.
“Bitcoin Slides 5% After Elon Musk Hints at a Potential Split With the Popular Cryptocurrency in a Tweet With a Broken Heart Emoji,” Business Insider weighs in.
“Musk Tweet Dents Bitcoin, but Weekly Gain in Prospect,” Reuters projects.
Oh yeah, and Musk might be starting a restaurant chain. There’s that too.
The man knows how to make the news. I have to give him that.
Delving further into the Business Insider piece in particular, we learn that his exact tweet involved a picture of a clearly unhappy couple. The caption above it reads:
“Her: I know I said it would be over between us if you quoted another Linkin Park song, but I’ve found someone else.
“Him: So in the end, it didn’t even matter?”
That came complete with a “#bitcoin,” bitcoin emoji and, as already noted, broken heart emoji.
Those familiar with American rock band Linkin Park will get the song reference. Those not familiar with it might just wonder why one of the world’s richest men is playing such “cryptoc” games.
(Sorry for the pun. It worked so well though.)
Business Insider continiues:
“He then tweeted a comic strip thread of a couple discussing how they’re yearning for each other. Musk also replied ‘nice’ to a GIF image of meme-based cryptocurrency dogecoin posted by crypto exchange Coinbase.
“It is unclear what Musk meant to convey, if anything.”
Since I can’t provide you any better insights either, I just go back to my previous statement. The man knows how to make the news.
You really have to give him that.
The World According to REITs
Before we get to our three real estate investment trust (REIT) updates, I do have to promote the fact that I just spoke with Troy Merkle, partner and real estate analyst at RSM, a prominent and global real estate accounting firm.
RSM recently published a very interesting report that shows how last year’s recession really was different. Here’s a snippet of Troy’s summary:
“… the Great Recession… was tied to market issues. We had really gotten out over our skis. We had over-leveraged with a lot of debt, and the real estate market in particular was sort of ground zero for what was going on in that market. But it was still generated or driven by economic issues.”
This last one wasn’t. So that makes the analysis – and the outcome – side of things very different too. Rest assured I’ll be keeping that perspective in mind going forward.
And you should too.
With that said, now on to three specific companies, each of which provided business updates in the last 24-hour period:
- National Health Investors (NHI) reached an agreement with Holiday Retirement to defer $600,000 per month May-July with 8% accrued interest. The full figure should be repaid in over 18 months starting in January. Altogether, NHI received 87.1% of its contracted rental income last month, with 2.3% of the unclaimed cash being from Holiday. It also cut its second-quarter dividend from $1.1025 to $0.90.
- Xenia Hotels & Resorts (XHR) says that all 35 of its hotels and resorts are now open, and it expects to continue recording positive monthly adjusted earnings before interest, taxes, depreciation, and amortization for real estate (EBITDAre) and adjusted funds from operations (AFFO) for the foreseeable future.
- Gladstone Land (GOOD) says it collected about 100% of its cash base rents due last month. Its portfolio was more than 95% occupied as of May 31. And it’s increased our straight-line rents in previously occupied properties by 9.4% on average.
Not quite an update but still noteworthy is how the two prison REITs not only made the Top 10 positive movers yesterday…
They topped the list.
I wonder what Elon Musk would have to say about that…
(Source: The Daily REITBeat)
Happy Investing
Brad Thomas is Senior Research Analyst at iREIT and CEO of Wide Moat Research LLC. With over 30 years of real estate experience, he is also long-time Editor of Forbes Real Estate Investor, a monthly subscription-based newsletter that dives deep into the vast world of profitable properties, and since 2021, he has served as an adjunct professor at New York University.
Thomas has also been featured on or in Forbes magazine, Kiplinger's, U.S. News and World Report, Money, NPR, Institutional Investor, GlobeStreet, CNN, Newsmax, and Fox. And he was the #1 contributing analyst on Seeking Alpha in 2014, 2015, 2016, 2017, 2018, 2019, 2020 and 2021 based on both page views and number of followers.
Thomas is the recently-published author of The Intelligent REIT Investor Guide (2021), co-author of The Intelligent REIT Investor (2016), and he wrote The Trump Factor: Unlocking The Secrets Behind The Trump Empire (2016) - all available on Amazon.
Thomas received a bachelor of science in business/economics from Presbyterian College and is married with five wonderful kids.
