iREIT Daily

Did Tom Brady Put Some Pep Into Mr. Market’s Step This Morning?

Brad Thomas

467 postsMarch 14, 2022

Were the markets up earlier this morning on Tom Brady’s comeback?

The arguable greatest of all time (GOAT) quarterback was retired for all of three seconds before yesterday’s announcement that he re-signed with the Tampa Bay Buccaneers. He’s been reflecting a lot these past two months, he told Twitter, and:

“I’ve realized my place is still on the field and not in the stands. That time will come. But it’s not now. I love my teammates, and I love my supportive family. They make it all possible. I’m coming back for my 23^rd season in Tampa. Unfinished business LFG.”

While that’s probably not why Dow futures were up over 1%… the S&P 500 was sitting at 0.99%… and the Nasdaq was indicating a 0.78% gain as of 6.45 a.m…

I guess that’s as good a guess as any.

Certainly, it wasn’t the news from Goldman Sachs (GS). The big bank’s strategists are now saying S&P earnings per share (EPS) will rise 5% for 2022, down from 8% mere weeks ago.

Nor was it China’s decision to lock down more than one industrial hub due to covid outbreaks. As The Washington Post writes:

China, one of the few countries in the world to still maintain a zero covid strategy, is battling a surge of cases in at least 19 provinces that is testing the government’s commitment to minimizing infections as much as possible.

This “could severely impact the recovering [global] economy.” Which, of course, is still dealing with supply issues as it is.

Those shutdowns might very well be why oil prices are down again despite all the turmoil going on. And, considering how that commodity is up 40% year-to-date, according to Reuters…

I guess we shouldn’t look a gift horse in the mouth.

More Non-REIT News to Know About

Speaking of oil, India is apparently considering buying Russian crude on the cheap. It imports 80% of its oil, which is exceptionally problematic considering how that commodity is up 40% year-to-date.

Reuters quotes an Indian government official as saying:

Russia is offering oil and other commodities at a heavy discount. We will be happy to take that. We have some issues like tanker, insurance cover and oil blends to be resolved. Once we have that, we will take the discount offer.

Until then, it’s not just Russia that’s hurting from the rest of the world’s sanctions. Italy, the E.U.’s third-largest economy, is exceptionally dependent on Russian energy. So it’s an extreme understatement to say it’s suffering.

As such, some companies are having to indefinitely suspend manufacturing operations, unable to continue profitably under current conditions. This includes paper mills, steel factories, and mom-and-pop fishing ventures alike.

Meanwhile, MarketWatch reports that “The World’s Largest Asset Manager and a Big Bond Fund Are Reported to Be Early Losers From the War in Ukraine.” BlackRock (BLK), it says, “has taken about [$17 billion] in losses on its Russian holdings…”

Clients held more than [$18.2 billion] in Russian assets at the end of January, the firm said, but closed markets and sanctions… have made the majority unsaleable, leading BlackRock to market them down sharply.
The firm suspended all purchases of Russian assets on February 28 and disclosed at that time that its holdings related to the country had fallen to less than [0.01%] of assets under management.

Clearly though, in BlackRock’s case, it still has more than enough money to work with. I don’t think there’s anyone out there expecting it to crash and burn under current conditions.

The World According to REITs

On Friday, Urstadt Biddle Properties (UBA) announced its Q1 funds from operations (FFO), which came to $0.33 per share.

Its portfolio in terms of gross leasable area was 92.6% leased as of January 31, up 0.7% year-over-year. And 94.8% of its total base rent and related income due between April 2020 and January 20222 were officially paid. So was 96.3% of such contractual expectations for the first quarter.

Elsewhere in the world of real estate investment trusts (REITs), we see that:

Sabra Health Care REIT (SBRA) agreed to purchase The Village at Stonebridge, a private-pay, high-end, retirement community in Saskatoon, Saskatchewan. This will be a 50-50 joint venture with Sienna Senior Living, which will manage the property.
Braemar Hotels & Resorts (BHR) took ownership of the 96-room Dorado Beach resort, operated by Ritz-Carlton, in Puerto Rico. It also took ownership of the income stream associated with 14 adjacent luxury residential units for a combined cost of $192 million.
Healthcare Trust of America (HTA) elected Reshma Block and Constance B. Moore as independent members to its board. There are now eight directors there altogether, seven of whom are independent.

Overall on Friday, we saw a smattering of share-price upticks in REITdom. Though, as with the markets in general, the stocks we monitor were mostly down.

(Source: The Daily REITBeat)

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: Colgate-Palmolive Company

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

Did Tom Brady Put Some Pep Into Mr. Market’s Step This Morning?

Brad Thomas

467 postsMarch 14, 2022

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Did Tom Brady Put Some Pep Into Mr. Market’s Step This Morning?

467 postsMarch 14, 2022

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