Discover and read the best of Twitter Threads about #REITs

Most recents (17)

"Institutional investors...have squeezed residential markets in many parts of the world, can be expected to pick up a purchasing pace that has turned them into the world’s biggest private landlords and transformed rental housing into a go-to global asset class."
“Institutional ownership threatens to accelerate the trends unleashed by the financialization of housing”

"...automated digital platforms have made it easier and cheaper to track, price, acquire and manage large swaths of homes in multiple communities."
Read 23 tweets
Hard Reit Portfolio (#REITs + #BTC)
2021 Returns : +60% 🚀

My Holiday Gift to you: a unique portfolio that beats #inflation, outperforms $SPY, and yields a juicy monthly income.

Let me show you this magic portfolio designed to beat inflation and manage volatility...🧵 1/10
PORTFOLIO STRUCTURE

The portfolio uses a Barbell Structure (h/t @nntaleb).

80% Long Value #REITs
20% Long #BTC
40% Short $CAD (Leverage)

2/10
ALLOCATION

[53%] #RioCan $REI.UN
[27%] @DreamOfficeREIT $D.UN
[20%] #BTC
[40%] Leverage [Short $CAD]

Income [4.25% Dividend] from the 80% allocation to #REITs services and pays down the 40% leverage with monthly dividend payments.
3/10
Read 13 tweets
PPFAS AGM 2021 #PPFAS

8th edition.
@PPFAS

1/n
2/n

Soulful music by none other than @VijayKedia1 before the AGM kicks off

check this one: @vijaykedia1 at his best
When will PPFAS will launch a new scheme?

Only if, PPFAS is excited about putting their own money & can add value to investors

Right now, there is no plan to cut any more expense ratio.

#PPFAS
#NewFundoffer? nops
Read 63 tweets
@narendramodi govt to raise 6 lakh Cr by monetising assets

Funds to be used to build new infrastructure,spur economic growth

Govt will raise 88000Cr this year by leasing infra assets of central govt ministries&state-run companies via #NationalMonetizationPipeline,NMP
Details👇
Annual targets under 4 year NMP have been set at 👇

1.62 lakh Cr for FY23

1.79 lakh Cr for FY24

1.67 lakh Cr in FY25

Top 5 sectors by value under this #AssetMonetization programme are

Roads (27%),
Railways (25%),
Power (15%),
Oil and Gas pipelines (8%)
Telecom (6%)

#Economy
Among projects @narendramodi govt plans to lease are👇

26700km of roads
90 passenger trains
400 railway stations
28608 circuit km transmission lines 286000km of #Bharatnet fibre network&

14917 towers owned by Bharat Sanchar Nigam Ltd,#BSNL& Mahanagar Telecom Nigam Ltd,#MTNL
Read 8 tweets
I am doing my master's thesis on alternative option pricing models with applications to risk management (e.g. #VaR measures, hedging).
I have a good background in finance and econometrics.
What kind of new and valuable insight could I bring to this topic?
@GARP_Risk @PRMIA
VaR - Value at Risk is not an Option Pricing model!
BSOP Greeks enable the Options trader to understand and hedge against Market Risk in various forms.
You cannot really use VaR to price options on its own.
A RAROC / RARORAC / RORAC/ ROVAR Type Model might do the trick, but that is beyond the scope of your question and this discussion,
Read 18 tweets
$KRC CEO John Kilroy says he believes the stock is trading at a 1/3 discount to NAV on $C Citi Property CEO conference. Kilroy Oyster Point Ph 2 (Life sciences $ARE) to start this summer. Will also start development of new life sciences project in San Diego. KRC has plenty of $
for development. May also repurchase shares/pay special dividend. #reits #dividends #dividendstocks Great track record of value creation via development - should trade at a premium to NAV. I think this is worth $100-120 per share.
I estimate today's $1.1 bn sale of The Exchange was done at a ~4% cap rate. Tenant is $DBX who has leased space until 2023 but is looking to sublease.
Read 9 tweets
Inflation $TLT worries=opportunity to invest in single family rental leader Invitation Homes $INVH. At $28/sh implies 4.8% 2021 cap rate. Trades at ~5-10% discount to NAV.
$AVB $EQR $CPT $MAA $ESS $VNQ $AMH $XLRE #reits #dividends
SHOULD trade at premium to NAV->Platform value:
2/While anyone can buy a home and become a landlord, this is a scale/density business. To effectively manage single family homes bigger is MUCH better. Scale allows for in-house provision of services (hire a plumber full time for $200/day rather than pay $150 for each visit).
3/Route density is also critical. On average, INVH owns at 5,000 homes per market. Can cluster maintenance jobs. This has lead to NOI margins of ~67%. Put simply, with scale INVH retains more of each rental $ as profit than competitors.
Read 11 tweets
$EQR results as expected. 2021 NOI guide -12-15% so peak (2019) to trough (2021) decline in NOI expected to be -17-20%. I'd been thinking -20% after 3Q#s. Like at $AVB, $ESS, $UDR rents stabilizing/occupancy increasing. #reits $VNQ #dividend #cre #investing $TLT
No longer crazy cheap but reasonably attractive vs. private market/alternatives $SPY $IWM $MDY $TLT $GLD $BTC. I assume NOI recovers to 2019 levels by ~2024 and stock has fair value of $80-85 at that time. Coupled w/ divvies received this produces a 4 year IRR of ~8-9%.
Read 3 tweets
$CPT -Private market sells us that NAV here is ~$125. Good mgmt track record; should trade at a premium. Baird & $BAC putting out usual sellside nonsense today (how is it worth 10% less than yesterday $BAC?). $BAC thinks it knows better than $billions in private mkt skin in game
participants. Haha. Notes from call: There is a strong bid for Class B value add (apartment classes explained here) apartments in the private market. The cap rate spread between Class B 'value add' apartments and Class A apartments has narrowed considerably over the last couple
of years. Camden plans to take advantage of the relative strength of the Class B pricing by selling Class B and rotating the proceeds into Class A assets. This will reduce associated capital expenditures over the life of the asset. Overall this makes sense to rotate into higher
Read 4 tweets
$MAA (2/4) call highlights: 1)demand is strong -now getting ‘normal’ 5-6% renewal rates (2)see supply moderating in 2H (I always take this with a grain of salt in the sunbelt!) #reits $CPT $VNQ $NXRT #multihousing #apartmentinvesting #dividends #cre (3)Valuations are high/cap....
3)Cap rates at all time lows in key markets (mid 3s/low 4s). This makes it impossible for MAA to acquire assets accretively. Instead they will do some opportunistic divestitures and (4)develop new apartment buildings (2,600 underway)- development yields are expected to be around
6% and in-process projects include Austin and Phoenix. While dev yields are appetizing, recall that it takes ~3+ yrs to stabilize/develop AND 2,600 units is ~2.5% or so of MAA's total # of apartments so this doesn't move the needle a ton. That said, I still like it here and...
Read 5 tweets
Any time you bring up the likes of all you hear is "The Mall Is Dead and Has Been Dead"

Am I wrong @CJ_Johnson17th

However, what people rarely understand is quality. has a HIGH-QUALITY portfolio of Class A malls
If you look at the graphic, you will see Malls are broken into classes based on the sales per square foot of the mall

At the end of 2019, had sales per sq ft of $693 and was at $801

These are considered Class A & A+ mall portfolios Image
This was a time when E-Commerce was roaring just like it is today yet these 2 malls continued to see %% and 10% annual gains

The malls closing down these days are your class C and Class D malls

continues to get dragged down with ALL retail news
Read 4 tweets
📈 Últimamente estoy escuchando hablar bastante sobre #REITs. Veo que hay curiosidad y eso me encanta.

Con ánimo de ayudar a conocer mejor este tipo de vehículo, he preparado una lista con un twitresumen de los 31 REITs del S&P 500.

¡Espero que os guste!

🏗🏢🏪🏭
1. American Tower:

$AMT es una proveedora global de infraestructuras de comunicación.

Pionera de este modelo de negocio, muy intensivo en capital, con altas barreras de entrada y flujos estables.

🗼180K Torres
🌍 19 Países

📈10 (Retorno Total en 10 años): +552% (20.4% CAGR)
2. Crown Castle:

Otro REIT de infraestructuras que opera en los principales mercados de telecomunicaciones de US. $CCI se beneficia del despliegue de redes 5G en todo el país.

🗼+40K Torres
🚏+70K Small Cells
📲 +75k Millas de Fibra

📈10: +416% (17.8 % CAGR)
Read 33 tweets
(1/8) ¿Son las acciones #REITs un buen refugio anti-inflacionista, o por el contrario no merece la pena tenerlas en cuenta para cubrir el riesgo de aumento del coste de la vida? Veamos el trabajo que pueden hacer por nosotros.
(2/8) La teoría moderna de carteras nos enseña que tener diversificado tu portafolio en clases de activos descorrelacionados reduce la volatilidad total y eleva la rentabilidad esperada a largo plazo. Existe una clase especial con relativa baja correlación con acciones y bonos.
(3/8) Una cartera diversificada que contenga acciones REITs, además de acciones y bonos, proporciona mejores retornos esperados que otras carteras que no las contengan, debido a su baja correlación, que permite un extra de rentabilidad final gracias al reequilibrio periódico.
Read 8 tweets
The #China Macro Doctor series report on Chinese economic performance in July just came out. This is a monthly-based research program on China’s macroeconomic performance led by cf40 senior fellow Zhang Bin. 1/6 mp.weixin.qq.com/s/GblMnfGCBadH… #economics
ON ECONOMIC PERFORMANCE: SMEs still under pressure; growth of industrial value added, consumption and fixed asset #investment all dropped compared with previous period; growth momentum of #export is weak; non-food #CPI continues to decline. 2/6
ON ECONOMIC OPERATION ENVIRONMENT: global #economy continues to slow down; newly added debt of govt, enterprises and households all decreased; short-term liquidity spread between 3-month #SHIBOR and 3-month government bond yield narrowed. 3/6
Read 6 tweets
THREAD: Takeaways from CF40 Q1 2019 #macroeconomic policy report by cf40 senior fellow Zhang Bin: 1/8
Current situation: Government speeds up #debt issuance and broad credit rises.#Economy has shown signs of bottoming out as prices rebound.
2/8 Broad credit increased by 11.4% yoy. Government #debt increased by 1.9 trillion, corporate debt by 5.8 trillion. Growth of household debt slowed significantly, but still registered an increase of 1.8 trillion.
3/8 Outlook:Economic recovery still faces challenges while several factors favor asset prices
-The growth of cyclical industries continues to slow,including home sales and auto sales.
-Sustained policy support, progress with China-US #trade talks favor the rise of assets prices.
Read 9 tweets
(1/10) "All About Asset Allocation" de @Rick_Ferri, uno de los Bogleheads USA más respetados, resumido en este #hilo3 de 10 tweets. Muchas gracias de antemano por tu lectura.
(2/10) El éxito en la inversión requiere del diseño, implementación y mantenimiento de una estrategia de largo plazo basada únicamente en tus #necesidades. El #assetallocation es la parte central de ese plan. Determinará la mayor parte de la rentabilidad y sus desviaciones.
(3/10) Los activos con mayor retorno esperado son aquellos con la menor #certeza de rentabilidad a corto y medio plazo. No hay inversión con riesgo cero. La clave está en diseñar tu cartera para que la #volatilidad no sea más elevada de lo que #tú puedas soportar.
Read 10 tweets
Pues se ha quedado una buena tarde para hablaros de los cajones de nuestro armario impasible, igual que se guarda ropa que vale para todo el año, nosotros guardamos activos que son deseables para toda la vida del inversor. #abrohilo #inversionimpasible #ImpassiveWealthFI
Los impasibles compramos los activos que consideramos deseables para la vida de un inversor, para ello nos gustan los ETFs de réplica física, líquidos, con comisiones ajustadas y, si es posible, de acumulación (re-inversión de dividendos). #inversionimpasible #ImpassiveWealthFI
Guardamos para siempre en nuestro armario impasible el #MSCI World, que sigue la evolución de las empresas grandes y medianas de los países desarrollados, y para ello compramos los siguientes ocho ETFs #inversionimpasible #ImpassiveWealthFI
Read 41 tweets

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