iREIT Daily

Earnings Galore, Gambling Problems, and What I Couldn’t Cover on Friday

Brad Thomas

467 postsJanuary 24, 2022

We have a spate of key company earnings emerging this week, starting with Halliburton (HAL) and Steel Dynamics (STLD) today.

Then, on Tuesday, Microsoft (MSFT) will bear all. So will 3M (MMM), American Express (AXP), Johnson & Johnson (JNJ), Lockheed Martin (LMT), and Verizon (VZ).

Wednesday will feature AT&T (T), Intel (INTC), and Tesla (TSLA), plus 2022’s first Federal Reserve meeting. Thursday’s roster includes Apple (AAPL), Blackstone (BX), Comcast (CMCSA), JetBlue Airways (JBLU), Mastercard (MA), McDonald’s (MCD), Southwest Airlines (LUV), U.S. Steel (X), and Visa (V). And on Friday, Caterpillar (CAT) will take the spotlight.

We’ll also get a trickle of real estate investment trust (REIT) reports. Boston Properties (BXP) will go on Tuesday and SL Green (SLG) on Wednesday.

But let’s face it, the Fed will probably steal the show – even before it meets.

Also worth highlighting is bitcoin’s slide to $33,058, down from its November high of $69,000 and its lowest level since July 23. Ether also fell 13%, and Binance Coin dropped 12%.

Meanwhile, online sports betting may have exploded in national attention over the last few years. But that doesn’t an automatic profit make.

The New York Post writes that casino giant Wynn Resorts (WYNN) wants to sell its unit. And at an intense discount.

It’s reportedly dealing with “painful losses from stiff taxes and costly promotions needed to lure customers,” prompting it to slash its asking price from $3 billion last year to just $500 million.

Meanwhile, the Kohl’s (KSS) saga continues with a $9 billion bid from a Starboard Value Group-backed conglomeration. And Peloton (PTON) faces its own angry activist investor, as Blackwells Capital demands it fire founder, Chairman, and CEO John Foley.

He “must be held accountable for his repeated failures,” it says, and the company should be put up for sale.

More Non-REIT News

I’m including one more news story before getting to the two topics I couldn’t cover Friday.

Many of you know I have something of an addiction to Starbucks (SBUX). So I naturally noticed this Fox Business headline: “Costco Offers Cheaper Alternative to Starbucks’ Bacon and Gouda Breakfast Sandwich.”

The “original” costs about $5 each. Whereas the frozen-aisle Costco (COST) version contains eight servings for $12.50. It’ll also save commute time, no doubt.

Though I’m not sure how much damage it will do to Starbucks. Not unless a barista comes with the packaged deal.

Alrighty then. Moving right along to transportation issues…

Last Wednesday, Emirates president Tim Clark called the 5G rollout approach “one of the most delinquent, utterly irresponsible” things he’s ever seen in the industry. Here’s what he told CNN:

We were aware of a 5G issue. Okay. We are aware that everyone is trying to get 5G rolled out. After all, it’s the super-cool future of whatever… communication and information flow.
We were not aware that the power of the antennas in the United States have been doubled compared to what’s going on elsewhere. We were not aware that the antenna themselves have been put into a vertical position rather a slight slanting position, which then taken together, compromise not only the radio altimeter systems but the flight control systems on the fly-by-wire aircraft. So, on that basis, we took that decision late last night to suspend all our services until we had clarity.

I know many people mocked airlines for not being properly prepared for 5G, which has been in the works for a while now. But if Clark is correct, it seems the blame needs to be shifted.

The World According to REITs

That’s story No. 1 on my Friday leftovers list. Story No. 2 is how, “Thieves have been breaking into cargo train containers and stealing countless dollars’ worth of merchandise that belong to top retailers like Amazon (AMZN), REI, [and] Target (TGT)…”

That’s according to Yahoo Finance but, as it acknowledges in the very next sentence, it hardly broke the story. Social media has been awash in pictures of train tracks strewn with trash: the boxes thieves ripped into and the loot they deemed unworthy of taking.

While train operator Union Pacific (UNP) now says it’s got its “arms around” the situation, it sent a very strongly worded letter to Los Angeles, California’s district attorney last month that if things didn’t change, it would have to divert routes away from the city.

That was “a nuclear option” it “would be very hesitant” to act on. But that possibility was still on the radar.

Considering how such thefts are up 160% year-over-year in L.A. County – with about 90 containers raided every single day for the past three months… I’ve got to say I understand where Union Pacific is coming from. It estimates that it lost $5 million in 2021 as a result.

When it comes to REITs then, we’ve got just one Daily REITBeat update, and that’s about Kilroy Realty (KRC). The company hired Bill Hutcheson, who begins today, as senior VP of investor relations and capital markets.

So, without further ado, here’s Friday’s most significant performers:

(Source: The Daily REITBeat)

Happy Investing

Brad Thomas

467 posts

View all my Posts

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: Alliant Energy

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

Earnings Galore, Gambling Problems, and What I Couldn’t Cover on Friday

Brad Thomas

467 postsJanuary 24, 2022

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Earnings Galore, Gambling Problems, and What I Couldn’t Cover on Friday

467 postsJanuary 24, 2022

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