iREIT Daily

Google, Facebook, Nintendo, and Everything Else Tech Today

Brad Thomas

467 postsFebruary 3, 2022

Stocks rose again yesterday for their fourth-straight, green-filled session.

It wasn’t an immediate path to that victory, mind you. But enough stocks triumphed in the end to keep February’s (and the last day of January’s) trend going.

Ultimately, the major indices decided that a new round of better-than-expected corporate earnings meant more than worse-than-expected economic updates. This sent:

The S&P 500 up 42.84 points, or 0.94%
The Dow up 224.13 points, or 0.63%
The Nasdaq up 71.55 points, or 0.50%.

They’re each still down year-to-date, but obvious progress has been made off their January lows.

The Nasdaq especially benefited from Alphabet/Google (GOOG), which bested quarterly sales and profit estimates. Its talk about a 20-for-1 stock split hyped investors up further, since that will make it accessible to smaller investors.

GOOG jumped 203.16 points, or 7.37%, yesterday. And other prominent tech names piggybacked some gains on the news. Meta Platforms/Facebook (FB) included.

More Non-REIT News to Know About

Sticking with our tech theme so far, Nintendo revised its Switch gaming console sales outlook downward. Instead of the 24 million units it thought it could sell this first quarter, it now predicts 23 million.

Which is much better than the 3 million setback Sony (SONY) predicts for its PlayStation 5.

Both production woes are due to the same thing: continuing semiconductor shortages. Of course. It doesn’t matter how popular the Switch is especially right now, having already become the fastest home gaming console to hit 100 million unit sales.

When manufacturers don’t have the materials they need to meet demand, demand just has to make do. Somehow, someway.

Recognizing that (then again, who doesn’t at this point?), two senators introduced a bill yesterday to make it easier for truck drivers to get their licenses and then use them. They believe that will help at least mitigate the shortages consumers are experiencing across the board.

Speaking of larger economic issues, here’s the negative news the markets were weighing yesterday morning… Private payrolls fell 301,000 jobs last month in what some consider to be an unexpected turn of events.

That was the first drop recorded since December 2020. Worse yet, the experts had projected a 180,000 boost upward.

The leisure and hospitality industries got hit hardest, followed by trade, transportation, and utilities. And I could also add that, according to payroll processor ADP – where the report originated – small businesses were hit the hardest. Of the 180,000 drop, 144,000 were from companies with 49 or fewer employees.

In other less-than-delightful news, the average national price for gasoline rose to $3.39. Three cents more, and we’re going to hit a seven-year high.

The World According to REITs

There was another story I wanted to cover this morning, but we’ve got seven different quarterly releases this morning – still not a lot comparatively speaking, but more than enough to give four updates instead of there.

Those of you who signed up for Intelligent REIT Dailyyesterday, as I urged, can see the other three names that reported over there.

Here’s what we’ve got for our blog post otherwise:

AvalonBay Communities (AVB) recorded funds from operations (FFO) of $2.27 per share and gave 2022 guidance of $9.28-$9.78. Same-store total revenue rose 6.1% for the quarter. Residential revenue increased 4.8%. And same-store residential revenue gained 4.7%, whereas associated expenses ticked up by 0.5% and net operating income (NOI) gained 6.8%. However, full-year same-store residential revenue did decline 2.2%, while same-store NOI dropped by 4.6%.
Essex Property Trust (ESS) reported $3.25 in per-share core quarterly FFO with 2022 guidance of $13.46-$13.94. It saw same-property gross revenue grow 4% in Q4 (year-over-year) and NOI gain 4.7%. Though, again, those two areas declined for the full year by 1.2% and 2.7% respectively. These still exceeded expectations, however. It’s also worth noting that they improved for the second quarter in a row.
Medical Properties Trust (MPW) announced Q4 normalized FFO of $0.47 per share and expects $1.81-$1.85 for 2022. It began construction last quarter on a replacement hospital for Steward Health Care System’s Wadley Regional Medical Center, located in Texarkana, Texas – which will cost an estimated $169 million. And it completed its sale of Capital Medical Center in Olympia, Washington, for $135 million. This was on top of selling $46 million worth of other properties.
Omega Healthcare Investors (OHI) reported Q4 FFO of $0.50 per share. During those three months, it invested $20 million in capital renovation and construction-in-progress assets. And it sold three other holdings for $8 million. As of 2021’s end, OHI’s balance sheet featured $5.3 billion in outstanding indebtedness consisting of $4.9 billion in senior notes, a $50 million term loan, and $362 million of debt, all unsecured. Its total cash and cash equivalents came in at $20.5 million, and it still has all $1.45 billion left on its revolving credit facility to rely on.

Now let’s see what this Thursday sends our way…

(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.

So Much Better Than Expected!

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

Google, Facebook, Nintendo, and Everything Else Tech Today

Brad Thomas

467 postsFebruary 3, 2022

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