iREIT Daily

Bank of America Shrugs off the “Future”

Brad Thomas

467 postsMay 30, 2022

I’d like to wish every one of you a happy Memorial Day.

As we take time today to spend with friends and family, I think it’s important to reflect on the sacrifices behind our ability to be a bastion of free trade. For without the bravery of a few, we masses wouldn’t be able to reap these or so many other benefits.

In today’s blog, I wanted to focus specifically on American companies. I began thinking about some of the biggest ones such as American Airlines (AA), American Express (AXP), and Ameriprise (AMP).

But then I landed on some news out of Bank of America (BOA) that I found particularly interesting.

In a recent interview with Yahoo! Finance, Bank of America CEO Brian T. Moynihan stressed that it was in no rush to dip its toes into cryptocurrencies. He doesn’t think he or his are missing out that way:

“‘Our big thing is helping consumers in America have a successful financial life,’ Moynihan said. ‘Our life plans, financial planning tool – four or five million users – only started three years ago. That’s what you need to do is get people to learn how to make their money work more for them to help in their lives.'”

Personally, I’ve never been long on crypto (except, perhaps, for a few days where my very enthusiastic Gen Z son got into my head). So it’s interesting to see others sharing the same skepticism.

As someone who deals in real assets that generate actual income – founded on solid fundamentals and provable value – crypto seems way too chaotic. It moves on too many whims and scares extremely easily.

In a truly American asset portfolio, I will always recommend something stronger. Something built to last and engineered for growth.

More Non-REIT News to Know About

With a portfolio that includes 106 companies, $125 billion in private equity, and an entire REIT division, Blackstone (BX) is easily one of America’s most successful alternative investment giants. And while it seemed to have it all for so long, apparently there was one thing missing from its treasure trove of tier-one assets…

Justin Timberlake.

Until now.

A Blackstone-backed fund recently acquired the all-American former boyband star’s catalog. That makes it the company’s largest music rights acquisition to date.

The exact terms of this deal have yet to be disclosed. But those familiar with it have projected the price well over $100 million.

The deal was brokered in partnership with music-investment company Hipgnosis Song Management. You see, last year, Blackstone formed a partnership with Hipgnosis that cost it an initial $1 billion.

The transaction involved launching a private vehicle called Hipgnosis Songs Capital to buy music rights and manage catalogs. And that entity now has complete ownership over Timberlake’s interest in over 200 songs written across his career to date – both as NSYNC’s front man and a solo performer.

In case you didn’t know, Justin Timberlake is a defining member of the millennial generation. His arsenal of hits includes “Bye Bye Bye,” “Cry Me a River,” “SexyBack,” and “Can’t Stop the Feeling!”

While he’s a bit young to be selling off his entire catalog, the tax implications alone probably make it a wise move. Let’s just hope this Blackstone-backed fund is generous in sharing these songs with the next generation.

The World According to REITs

In this all-American post, I thought it would be especially relevant to highlight one of our favorite REITs – especially when we can explore the good work it’s doing on behalf of the international business community.

American Tower (AMT), one of the world’s largest real estate investment trusts (REITs), owns, operates, and develops communications infrastructure through around 221,000 properties. Just a few days ago, this Boston-based blue-chip announced it joined the United Nations Global Compact (UNGC).

At this point, more than 15,000 global companies have committed through that organization to align strategic operations. Their universal principles involve human rights, labor, environment, and anti-corruption.

For American Tower specifically, it’s adopted the United Nations Women’s Empowerment Principles to advance gender equality and female empowerment in the workplace.

CEO Tom Bartlett stated:

“Pledging our support of the UNGC and WEPs reflects our unwavering responsibility to a principles-based approach to corporate sustainability that upholds a commitment to people and the planet. We will continue to embed these initiatives and principles into the strategy, culture, and operations of American Tower, and engage in collaborative projects which advance the broader objectives of the United Nations, particularly the Sustainable Development Goals.”

This is just one of many ways American Tower is committing to ethical business operations through its policies. In a world so full of corruption, it’s great to see an All-American REIT redefining the standards of business.

And One More Thing

Speaking of REITs that are doing good things, I’ve got a special Memorial Day offer to give you. It’s for my monthly newsletter The Intelligent REIT Investor, which is chock-full of sustainable, sustaining investment picks that can keep your portfolio afloat even during these tough times.

Normally, it’s $199 per year (which is still a great price). But today, I’m dropping that price down to $149.

Set yourself up for success today by learning more about this all-American – though definitely limited time – deal. I don’t think you’ll be disappointed!

Happy Investing

Brad Thomas

467 posts

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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.

Dividend Growth Stock of the Week: Lowe’s Companies

REIT Mutual Fund	Symbol
Alpine Realty Income and Growth Fund	AIGYX, AIAGX
American Century Real Estate Fund	REAIX, REACX, AREEX, AREWX, ARYCX, AREDX
Real Estate Securities Fund	MRESX
AR Capital Real Estate Income Fund	ARIAX, ARICX, ARIPX
AssetMark Real Estate Securities Fund	AFREX
Aston/Harrison Street Real Estate Fund	AARIX, ARFCX
Baron Real Estate Fund	BREIX, BREFX
BlackRock Real Estate Securities	BIREX, BAREX, BCREX
Brookfield U.S. Listed Real Estate Fund	BRUAX, BRUCX, BRUIX, BRUYX
CGM Realty Fund	CGMRX
West Loop Realty Fund	REIIX, REIAX, REICX
Cohen & Steers Institutional Realty Shares	CSRIX
Cohen & Steers Realty Income Fund	CSEIX, CSDIX, CSBIX, CSCIX
Cohen & Steers Realty Shares	CSRSX
Columbia Real Estate Equity Fund	CREAX, CREIX, CRRVX, CRERX, CREEX, CRRFX, CREWX, CRECX, CREBX
Compass EMP REC Enhanced Volatility Weighted Fund	CWRAX, CWRIX, CWRTX, CWRCX
Davis Real Estate Fund	RPFRX, DREYX, DRECX, DREBX
Delaware Real Estate Investment Trust Portfolio II	DPRTX, DPRBX
Delaware Real Estate Investment Trust Portfolio	DPREX, DPRSX, DPRRX, DPRCX
DFA Real Estate Securities Portfolio	DFREX
Dunham Real Estate Stock Fund	DAREX, DNREX, DCREX
DWS RREEF Real Estate Securities Fund	RRRRX, RRREX, RRRAX, RRRSX, RRRBX, RRRCX
DWS RREEF Real Estate Securities Income Fund	REFAX, REFCX, REFIX, REFSX
Eaton Vance Real Estate Fund	EAREX, EIREX
EII Realty Securities Fund	EIIRX
Fidelity Advisor Real Estate Fund	FHEIX, FHEAX, FHETX, FHECX, FHEBX
Fidelity Advisor Real Estate Income Fund	FRIRX, FRIQX, FRINX, FRIOX
Fidelity Real Estate Income Fund	FRIFX
Fidelity Real Estate Investment Portfolio	FRESX
Fidelity Spartan Real Estate Index Fund	FSRNX, FRXIX, FSRVX
Fidelity Series Real Estate Equity Fund	FREDX, FREFX
Fidelity Series Real Estate Income Fund	FSREX, FSRWX
Forward Real Estate Long/Short Fund	KSRYX, FRLSX, FFSRX, KSRAX, KSRCX, KSRBX
Forward Real Estate Fund	FPREX, FFREX, KREAX, KRECX
Forward Select Income Fund	KIFYX, FSIMX, FFSLX, KIFAX, KIFBX, KIFCX
Franklin Real Estate Securities Fund	FREEX, FRLAX, FRRSX, FSERX
GMO Real Estate Fund	GMORX
Goldman Sachs Real Estate Securities Fund	GREIX, GRETX, GREAX, GRESX, GRERX, GREBX, GRECX
Great-West Real Estate Fund	MXREX
Heitman REIT Fund	OARTX, OBRTX
ING Real Estate Fund	CRARX, IREWX, IDROX, CLARX, CRWRX, CRCRX, CRBCX
INVESCO Real Estate Fund	REINX, IARFX, IARIX, IARYX, IARAX, IARRX, IARCX, AARBX
Ivy Real Estate Securities Fund	IRSAX, IREIX, IRSYX, IRSRX, IREEX, IRSCX, IRSBX
John Hancock Real Estate Securities Fund	JIREX
Johnson Realty Fund	JRLTX
J.P.Morgan Realty Income Fund	URTLX, JRIRX, URTAX, URTBX, URTCX
J.P. Morgan Security Capital U.S. Core Real Estate Securities Fund	CEEAX, CEERX, CEEFX, CEESX, CEECX
J.P. Morgan U.S. Real Estate Fund	SUSIX
Lazard U.S. Realty Equity Portfolio	LREIX, LREOX
Lazard U.S. Realty Income Portfolio	LRIIX, LRIOX
Manning & Napier Real Estate Series	MNRIX, MNREX
Morgan Stanley Institutional U.S. Real Estate Portfolio	MSUSX, MUSDX, MSULX, MURSX
Natixis AEW Real Estate Fund	NRFAX, NRFYX, NRFBX, NRFCX, NRFNX
Neuberger Berman Real Estate Fund	NBRIX, NBRFX, NREAX, NRERX, NRECX, NRREX
Nuveen Real Estate Securities Fund	FREAX, FARCX, FRSSX, FREBX, FRLCX, FREGX
Oppenheimer Real Estate Fund	OREAX, OREIX, OREYX, ORENX, OREBX, ORECX
PHOCAS Real Estate Fund	PHREX
PIMCO RealEstateRealReturn Strategy Fund	PRRSX, PETPX, PETAX, PETDX, PETCX, PETBX
Pioneer Real Estate Shares	PWREX, PYREX, PCREX, PBREX
Principal Real Estate Securities Fund	PIREX, PIRPX, PREPX, PRETX, PREJX, PRRAX, PRERX, PRENX, PRAEX, PRCEX, PRLEX
ProFunds Real Estate UltraSector ProFund	REPIX
Prudential Select Real Estate Fund	SREAX
Prudential U.S. Real Estate Fund	PJEAX, PJEZX, PJECX, PJEBX
REMS Real Estate Income 50/50 Portfolio	RREIX
REMS Real Estate Value-Opportunity Fund	HLRRX, HLPPX
Rydex Real Estate Fund	RYREX, RYHRX, RYCRX
SA Real Estate Securities Fund	SAREX
SEI Institutional Mgd Real Estate Fund	SETAX, SEIRX
Spirit of America Real Estate Income & Growth Fund	SOAAX
SSgA Clarion Real Estate Fund	SSREX
Stratton Real Estate Fund	STMDX
T.Rowe Price Real Estate Fund	TRREX, PAREX
TIAA-CREF Real Estate Securities Fund	TIREX, TRRPX, TRRSX, TCREX
Vanguard REIT Index Fund	VGSNX, VGRSX, VGSLX, VGSIX
Virtus Real Estate Securities Fund	PHRAX, PHRIX, PHRCX, PHRBX

REIT ETF	Symbol
Flex Shares	ASET
Wisdom Tree Global Ex-US	DRW
S&P 500 Equal Weight	EWRE
iShares FTSE Industrial/Office	FNIO
MSCI Real Estate Index	FREL
S&P REIT Index	FRI
First Trust S&P REIT	FRI
iShares Real Estate 50	FTY
Flexshares Global	GQRE
iShares Cohen & Streers	ICF
iShares International Developed RE	IFGL
iShares US RE	IYR
Premium Yield Equity REIT	KBWY
ETRACS Monthly Pay 2x Leverage	MORL
Market Vector Mortgage	MORT
iShares Global REIT	REET
iShares FTSE Mortgage	REM
iShares Residential	REZ
IQ US Real Estate Small Cap	ROOF
iShares FTSE NAREIT Retail	RTL
DOW Jones Global RE	RWO
SPDR Dow Jones	RWR
Schwab US REIT	SCHH
Super Dividend REIT	SRET
ProShares Ultra RE	URE
Vanguard REIT	VNQ
Vanguard Global ex-US	VNQI
iShares International Developed	WPS
Wilshire US REIT	WREI
Pacer Benchmark Data & Infrastructure RE	SRVR
Pacer Benchmark Industrial RE	INDS
Pacer Benchmark Retail RE	RTL
Hoya Capital Housing	HOMZ
NetLease Corporate RE	NETL

REIT Name	Ticker	Annual Increases/yr
Federal Realty	FRT	51
Universal Health Realty	UHT	33
National Retail Properties	NNN	29
Realty Income	O	27
Tanger Outlets	SKT	26
Urstadt Biddle	UBA	25
Essex Property Trust	ESS	25
W.P.Carey	WPC	22
National Health Investors	NHI	17
Equity Lifestyle	ELS	15
Digital Realty	DLR	15

Bank of America Shrugs off the “Future”

Brad Thomas

467 postsMay 30, 2022

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Bank of America Shrugs off the “Future”

467 postsMay 30, 2022

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