Canny Trading

New Jersey REITs: Leading Investments for The Garden State

Long — Fri, 19 Jan 2024 05:23:39 +0000

New Jersey, known as The Garden State, offers more than just picturesque landscapes and bustling cities. It’s also a hub for savvy investors seeking growth and stability. The real estate market here presents unique opportunities, particularly through Real Estate Investment Trusts (REITs). In this article, we will explore some New Jersey REITs that offer investors a blend of profitability and security.

Key Takeaways – Best New Jersey REITs Chart

REIT	Market Cap	Dividend Yield (TTM)	Industry
Essential Properties Realty Trust, Inc. (EPRT)	$3.85 Billion	4.43%	Diversified
Alexander's, Inc. (ALX)	$1.12 Billion	8.06%	Retail
UMH Properties, Inc. (UMH)	$992.65 Million	5.38%	Residential

Essential Properties Realty Trust, Inc. (EPRT)

Market Capitalization: $3.85 Billion
Dividend Yield (TTM): 4.43%
Industry: REIT – Diversified
Headquarters: Princeton, New Jersey

Essential Properties Realty Trust, Inc. (EPRT) is a distinctive player in the REIT sector. As of the third quarter in 2023, its portfolio comprised 1,793 commercial properties across 48 states, covering 17.8 million square feet.

A key element of EPRT’s strategy is its focus on properties that are crucial to the tenants’ operations. This focus ensures that their properties remain a necessary part of the tenant’s business, providing stability to the income stream. EPRT’s portfolio is characterized by high occupancy rates and long lease terms. As of the third quarter in 2023, their portfolio was almost fully leased (99.8%) with a weighted average lease term of approximately 14 years, reflecting their commitment to long-term, stable revenue streams.

EPRT’s growth strategy also includes a robust investment platform where a significant portion of its deals are sourced through existing relationships and are predominantly sale-leaseback transactions. It allows EPRT to build a portfolio with tenants with the operational expertise to manage their businesses successfully. Their diversified tenant base includes sectors like restaurants, car washes, convenience stores, early childhood education, auto services, and medical services.

Furthermore, EPRT’s investment strategy is distinguished by its focus on acquiring additional properties that can help increase its rental income and expand profit margins. The company is positioned to address the increasing demand for retail space, especially as it expands its portfolio.

Alexander’s, Inc. (ALX)

Market Capitalization: $1.12 Billion
Dividend Yield (TTM): 8.06%
Industry: REIT – Retail
Headquarters: Paramus, New Jersey

Alexander’s, Inc. (ALX), a REIT in New Jersey, manages a small portfolio with properties primarily in New York City. Despite its focused portfolio, ALX has some unique features worth discussing.

One key aspect of Alexander’s Inc.’s strategy is its concentrated portfolio. Unlike many REITs that diversify across numerous properties, Alexander’s maintains a small, focused set of properties. It means a deep investment in each property’s potential and performance.

The company’s strategy also includes significant investment in redevelopment and renovation. By upgrading and enhancing properties, Alexander’s aims to increase their value and attract high-quality tenants.

ALX’s dividend yield is attractive, and its Price/FFO ratio is almost double that of the Office REIT average. However, another significant factor in ALX’s revenue is its dependence on a few tenants. Over half of its rental income comes from a single tenant, Bloomberg. This concentration poses a risk; any significant change in Bloomberg’s operations could substantially impact ALX’s revenue.

UMH Properties, Inc. (UMH)

Market Capitalization: $992.65 Million
Dividend Yield (TTM): 5.38%
Industry: REIT – Residential
Headquarters: Freehold, New Jersey

UMH Properties, Inc. (UMH) is a REIT known for owning and operating manufactured home communities. Founded in 1968, UMH has a long-standing history in the real estate sector. Originally named United Mobile Homes, Inc., the company rebranded to UMH Properties, Inc. in 2006.

UMH’s portfolio mainly consists of manufactured home communities. These communities are leased to a broad range of tenants, focusing on providing affordable housing options. The company’s acquisition strategy has been aggressive, consistently adding new communities to its portfolio, which has expanded its reach across multiple states.

From 2013 to 2023, UMH acquired numerous communities across various states, including Tennessee, Pennsylvania, Ohio, Indiana, Maryland, Michigan, Alabama, South Carolina, New York, Florida, and Georgia.

However, you may need to notice that UMH’s portfolio is not as diversified as some investors might prefer. The company’s focus on manufactured homes presents specific risks related to changes in population dynamics, unemployment rates, and rent prices.

Massachusetts REITs: Exceptional Assets in the Bay State

Long — Thu, 18 Jan 2024 15:12:21 +0000

Massachusetts, known for its rich history and vibrant economy, offers a unique landscape for investors seeking growth and stability. Amidst its bustling cities and quaint towns, the real estate market attracts discerning investors from far and wide. Today, following our exploration of Massachusetts REITs, we will uncover how some of them stand as exceptional assets in the Bay State.

Key Takeaways – Best Massachusetts REITs Chart

REIT	Market Cap	Dividend Yield (TTM)	Industry
American Tower Corporation (AMT)	$97.63 Billion	3.04%	Specialty
Iron Mountain (IRM)	$19.63 Billion	3.78%	Specialty
Boston Properties, Inc. (BXP)	$10.98 Billion	5.61%	Office
Stag Industrial Inc. (STAG)	$7.00 Billion	3.82%	Industrial
Service Properties Trust (SVC)	$1.35 Billion	9.78%	Hotel & Motel
Plymouth Industrial REIT, Inc. (PLYM)	$1.04 Billion	3.89%	Industrial
Seven Hills Realty Trust (SEVN)	$203.36 Million	10.26%	Mortgage

American Tower Corporation (AMT)

Market Capitalization: $97.63 Billion
Dividend Yield (TTM): 3.04%
Industry: REIT – Specialty
Headquarters: Boston, Massachusetts

American Tower Corporation (AMT) is a REIT specializing in communication real estate. Founded in 1995 as a division of American Radio Systems, it became independent in 1998 following a merger with CBS Corporation. The company is headquartered in Boston, Massachusetts, and is recognized as one of the largest global REITs.

AMT focuses on owning, operating, and developing multi-tenant communication real estate. Its portfolio boasts nearly 225,000 communication sites, including a vast network of cell towers and U.S. data center facilities. These assets have been instrumental in repurposing former AT&T Long Lines telephone relay towers into cell towers, expanding their utility in the communications sector.

The company’s expansion has been both domestic and international. In 2005, it acquired SpectraSite Communications, adding over 22,000 communication sites to its portfolio. Further international growth occurred between 2007 and 2012, with operations established in India, Peru, Chile, Colombia, South Africa, Ghana, and Uganda. In 2013, AMT acquired Global Tower Partners, adding significant sites to its U.S. portfolio and expanding into Costa Rica and Panama. Recent acquisitions include the European and Latin American tower divisions of Telxius in 2021 for $9.6 billion and CoreSite in the same year for $10.4 billion, significantly bolstering its position in the 5G sector.

The company competes with other major players in the mobile and telecommunications sector, such as Crown Castle, Liberty Broadband, and SBA Communications.

Iron Mountain (IRM)

Market Capitalization: $19.63 Billion
Dividend Yield (TTM): 3.78%
Industry: REIT – Specialty
Headquarters: Boston, Massachusetts

Iron Mountain Incorporated (IRM) is a specialty REIT known for its global leadership in information management, innovative storage, data center infrastructure, and asset lifecycle management. Established in 1951 and headquartered in Boston, Massachusetts, it’s a trusted service provider for over 225,000 customers worldwide, including about 95% of the Fortune 1000 companies.

The company’s journey began when it was founded by Herman Knaust, initially focusing on document storage in an old iron ore mine. This unique start is the source of its name, Iron Mountain. It expanded its services beyond New York in the 1980s and continued to grow into a significant player in information storage and management. Iron Mountain went public in 1996 and transitioned to a REIT in 2014.

Under the leadership of CEO William L. Meaney, who took the helm in 2013, Iron Mountain has significantly expanded its global presence. The company now operates across 52 countries, with facilities at 1,400 sites. Meaney’s vision and international experience have been pivotal in transforming Iron Mountain into a truly global enterprise.

Boston Properties, Inc. (BXP)

Market Capitalization: $10.98 Billion
Dividend Yield (TTM): 5.61%
Industry: REIT – Office
Headquarters: Boston, Massachusetts

Boston Properties, Inc. (BXP) is one of the premier REITs in the United States. Specializing in office properties, it is the largest publicly traded developer, owner, and manager in this sector. Established in 1997 with its IPO, BXP has achieved significant growth and is now a member of the S&P 500.

The company’s operations are concentrated in six key U.S. cities: Boston, New York, Washington D.C., Los Angeles, San Francisco, and Seattle. As of early 2024, Boston Properties’ portfolio encompasses 54.5 million square feet across 192 properties. This includes a mix of office, residential, and retail properties, offering a diversified asset base.

A key aspect of Boston Properties’ portfolio is its focus on premier workplaces, which has led to a strong presence in some of the most dynamic markets in the country. Its properties are sought after by high-profile tenants, adding to the stability and prestige of its real estate portfolio.

Boston Properties has also been proactive in adapting to market trends. For instance, recognizing the growing importance of life science companies, it has begun expanding its offerings to this sector. This includes fully leasing a six-story, 271,000-square-foot building in Boston to Biogen and a 566,000-square-foot building preleased to AstraZeneca, set for occupancy in 2026. Such strategic moves demonstrate the company’s agility in responding to market demands and its commitment to growth and diversification.

Stag Industrial Inc. (STAG)

Market Capitalization: $7.00 Billion
Dividend Yield (TTM): 3.82%
Industry: REIT – Industrial
Headquarters: Boston, Massachusetts

STAG Industrial Inc. (STAG) is a REIT sector specializing in acquiring, owning, and operating industrial properties across the United States. Established in 2010 and based in Boston, Massachusetts, STAG Industrial focuses on single-tenant industrial properties.

As of September 30, 2023, STAG’s portfolio comprises 568 buildings across 41 states, encompassing approximately 112.0 million rentable square feet. Its diverse portfolio includes warehouse/distribution buildings, light manufacturing buildings, a flex/office building, and a few Value Add Portfolio buildings. This diversified mix aims to minimize exposure to any single tenant or industry. Notably, no single tenant accounts for more than approximately 3.0% of STAG’s total annualized base rental revenue, and no single sector represents more than about 10.9% of this revenue.

Service Properties Trust (SVC)

Market Capitalization: $1.35 Billion
Dividend Yield (TTM): 9.78%
Industry: REIT – Hotel & Motel
Headquarters: Newton, Massachusetts

Service Properties Trust (SVC), a REIT in Massachusetts, primarily focuses on two asset categories: hotels and service-focused retail net lease properties. As of September 30, 2023, SVC had a significant presence in the hospitality sector, owning 221 hotels with over 37,000 guest rooms. These properties are located across the United States, Puerto Rico, and Canada, primarily focusing on extended stays and select service hotels.

In addition to its hotel portfolio, SVC also had considerable investments in the retail sector. As of the same date, it owned 761 retail service-focused net lease properties, encompassing approximately 13.4 million square feet across the United States. This diverse portfolio allows SVC to cater to a wide range of customer needs in various locations.

The company is managed by The RMR Group, a leading U.S. alternative asset management company with a strong track record and extensive experience in commercial real estate operations.

Plymouth Industrial REIT, Inc. (PLYM)

Market Capitalization: $1.04 Billion
Dividend Yield (TTM): 3.89%
Industry: REIT – Industrial
Headquarters: Boston, Massachusetts

Plymouth Industrial REIT, Inc. (PLYM), headquartered in Boston, Massachusetts, is an industrially focused real estate investment trust. It was listed on the New York Stock Exchange in 2017. The company specializes in acquiring, owning, and managing single and multi-tenant industrial properties. These properties include distribution centers, warehouses, and light industrial spaces. Primarily, their focus is on secondary and select primary markets across the United States.

Plymouth Industrial REIT invests in properties that offer a current operating income with the potential to enhance shareholder value. This approach involves re-positioning properties, improving capital structures, and restructuring tenant leases. The company’s portfolio meets the needs of various tenants, providing spaces that are cost-effective, functional, flexible, and safe. Their approach to real estate investment is vertically integrated, which means they handle various aspects of real estate operations internally, from acquisition to property management.

Seven Hills Realty Trust (SEVN)

Market Capitalization: $203.36 Million
Dividend Yield (TTM): 10.26%
Industry: REIT – Mortgage
Headquarters: Newton, Massachusetts

Seven Hills Realty Trust (SEVN), based in Newton, Massachusetts, is a specialized REIT. Established in 2008, SEVN focuses on originating and investing in first mortgage loans. These loans are secured by middle market and transitional commercial real estate across the United States.

The company’s investment approach is centered around providing financing solutions to properties that are in transitional phases. This could include properties requiring redevelopment, repositioning, or undergoing other significant changes. By focusing on first mortgage loans, Seven Hills Realty Trust positions itself as a key financier in these real estate ventures, often in markets that are not the primary focus of larger REITs or financial institutions.

Managed by Tremont Realty Capital, an affiliate of The RMR Group, SEVN benefits from the expertise of a leading U.S. alternative asset management company. The RMR Group, with approximately $36 billion in assets under management, brings over 35 years of experience in buying, selling, financing, and operating commercial real estate.

TradeSanta Review: A Bot Worth Your Investment?

Long — Wed, 17 Jan 2024 21:55:28 +0000

In cryptocurrency trading, automation has become a key tool for investors looking to gain an edge. Enter TradeSanta, a platform that streamlines the trading process through its cutting-edge bot technology. But with so many options on the market, is TradeSanta truly worth your investment? This TradeSanta review will delve deep into the platform’s usability, the types of bots supported, pricing, and the mobile app. Determine whether or not it is a viable solution for those looking to automate their trading strategy.

Ease of use

 4.7/5

Easy to set up a bot

Create a bot – TradeSanta

TradeSanta makes it incredibly simple to set up a trading bot and begin executing trades. Upon logging in, users can easily create a new bot by clicking the “+Create bot” button located on the top left of the menu. TradeSanta offers users options to choose a strategy, pair, and customize bot settings to their liking. Alternatively, users can navigate the “My bots” section and select the desired trading strategy (such as DCA, Grid, or Smart Order). Then, click the “+Create bot” button, and a trading bot will birth.

However, to use this feature, the user must first connect the platform to their preferred exchange, which is a straightforward process. With the established connection, users can easily create their first trading bot and start reaping the benefits of automation.

User-friendly platform

TradeSanta’s platform is user-friendly and easy to navigate. It is simple for users to keep track of their trading activity and performance. The platform’s dashboard serves as the one-stop shop for all crucial information. There are active bots currently, trading results, balance dynamics, and the latest news.

Dashboard – TradeSanta

The Balance Dynamics and Profit Dynamics blocks provide users with an effortless way to visualize their balance value in USD and BTC for the past 30 days. Here also presents the profit TradeSanta bots generated over the same period.

With the List of Active Bots section, users can easily view and manage their active bots, including DCA and grid bots. All critical information, such as the bot’s name, trading pair, unrealized profit, and position, is all in one place.

TradeSanta’s platform also provides a comprehensive overview of trading activity and performance. There are features such as total balance, realized profit, exchange rates, and top pairs, all easily accessible. The platform also has a news section. Users can stay up-to-date with the latest announcements and updates.

Bot varieties

 3.4/5

Compared to other mainstream trading bot platforms, TradeSanta provides relatively fewer choices of bots. Only the Grid Bot, DCA Bot, and Smart Order are available.

Grid Bot

The Grid Bot aid traders in profiting from price fluctuations by placing buy and sell orders at specific price levels, forming a grid-like structure. Thus, you can take advantage of potential price movements in either direction. This strategy is particularly useful in volatile markets.

DCA Bot

The DCA Bot helps in averaging in and out of positions. The goal is to reduce the average cost of acquiring a position. It enables traders to schedule regular, incremental buys at a specific time interval.

In a bear market, the price of common cryptocurrencies will decrease over time. In this situation, the average cost of your positions will decrease by using a DCA bot. Thus, a DCA bot is beneficial in a bearish market.

Smart Order

It is hard to say that Smart Order is a trading bot. More accurately, you should see it as an optimization strategy. Smart Order is not designed to pick buy or sell points like the above two bots but rather execute orders better. With it, you can sell a specified quantity of cryptocurrency, split over predefined periods. You just need to determine the amount you want to sell. After that, the Smart Order bot will take over.

The bot will place and maintain orders in the exchange’s order book. The optimization algorithm will minimize the impact on the market and potentially maximize the return. Smart Order is a must-have if you have large crypto transactions to manage.

TradeSanta pricing

 4.7/5

If we don’t talk about price, then any TradeSanta review is meaningless. After all, you get what you pay for. Fortunately, TradeSanta has a flexible pricing structure and reasonable prices. You can select a subscription package that fits your needs. The platform offers three different price plans, each with varying levels of access to the platform’s features.

Besides, TradeSanta offers a new free plan, a nice advantage compared to its competitors. The free plan includes one bot and access to the trading terminal. You can try it out first, see how it works, and then decide.

Pricing – TradeSanta

The Basic Package costs $13 per month: It offers access to 49 bots, an unlimited number of trading pairs, all strategies, and Telegram notifications. This package is ideal for most investors and traders just starting or wanting to test the platform before committing to a more expensive plan.

The Advanced Package, costing $23 per month, is designed for more experienced traders. It includes all the features of the Basic Package but also offers access to 99 bots and additional benefits such as TradingView signal integration and a trailing take profit feature.

The Maximum Package, which costs $35 per month, is the perfect choice for serious traders. It includes all the features of the Basic and Advanced Package, as well as additional features such as custom TradingView signals and an unlimited number of bots and trading pairs.

TradeSanta also offers a free 3-day trial that allows you to explore the platform and try out the features before committing to a paid plan. Just get a feel for the platform and decide which plan is right for you.

TradeSanta mobile app review

 4.7/5

Mobile App – TradeSanta

The TradeSanta mobile app offers traders the convenience and flexibility to manage their crypto trading bots on the go. With the crypto market constantly fluctuating, the mobile app allows you to easily track your portfolio, whether you’re out and about or away from your computer.

Suppose you already have an account on the web version of TradeSanta. You can easily log in to the mobile app and access all your account details.

The mobile app has all the same tools and features as the desktop version. You can switch between them easily since these two versions work seamlessly. Charts and indicators are also available in the mobile app too. You can use them to evaluate the bot’s performance and make adjustments if needed.

Compared to its competitors, I believe that TradeSanta’s mobile app is quite good in terms of functionality and user-friendliness.

Final words

In this TradeSanta review, we have focused on four key aspects of the platform – usability, the types of bots supported, pricing, and the mobile app. These are the most important factors to consider when evaluating a trading bot platform.

In summary, TradeSanta is a solid choice for a cryptocurrency trading bot platform. It offers all the necessary features. Besides, it has unique advantages, such as a free plan for users to try before committing. The mobile app is also well-designed and user-friendly.

One downside is that the platform only supports a limited number of bot types, specifically Grid Bot and DCA Bot. However, these two types of bots will be sufficient for those new to this field since they are most commonly used. TradeSanta is secure, and there is no problem in this regard. If you’re interested, you can try it by clicking here. After all, it has a free plan. Hope this TradeSanta review helps you! Happy Trading!

Maryland REITs: Premier Choices for the Free State

Long — Wed, 17 Jan 2024 09:33:48 +0000

In the heart of the Mid-Atlantic, Maryland stands out as a beacon of economic vitality. Known as the Free State, Maryland’s diverse economy and strategic location make it a hub for real estate investment opportunities. Among these, Maryland REITs (Real Estate Investment Trusts) are gaining prominence. In this article, we will explore some premier investment choices in the Free State.

Key Takeaways – Best Maryland REITs Chart

REIT	Market Cap	Dividend Yield (TTM)	Industry
Host Hotels & Resorts, Inc. (HST)	$13.93 Billion	2.87%	Hotel & Motel
Federal Realty Investment Trust (FRT)	$8.40 Billion	4.25%	Retail
Omega Healthcare Investors, Inc. (OHI)	$7.51 Billion	8.78%	Healthcare Facilities
AGNC Investment Corp. (AGNC)	$6.76 Billion	14.44%	Mortgage
COPT Defense Properties (CDP)	$2.88 Billion	4.46%	Office
RLJ Lodging Trust (RLJ)	$1.80 Billion	2.68%	Hotel & Motel
JBG SMITH Properties (JBGS)	$1.65 Billion	5.27%	Office
Saul Centers, Inc. (BFS)	$936.44 Million	5.98%	Retail

Host Hotels & Resorts, Inc. (HST)

Market Capitalization: $13.93 Billion
Dividend Yield (TTM): 2.87%
Industry: REIT – Hotel & Motel
Headquarters: Bethesda, Maryland

Host Hotels & Resorts, Inc. (HST) is an S&P 500 company. It is one of the foremost owners of luxury and upper-upscale hotels.

The firm is known for its partnerships with several premium brands, including Marriott, Ritz-Carlton, Westin, Sheraton, W, St. Regis, The Luxury Collection, Hyatt, Fairmont, Hilton, Four Seasons, Swissôtel, ibis, Novotel, and independent brands. These partnerships are crucial to Host Hotels & Resorts’ business model, allowing it to offer a diverse range of hospitality experiences to its guests.

As of the latest information, the company now owns 77 hotels, encompassing about 42,000 rooms. These properties are strategically situated across 20 top U.S. markets, ensuring a strong presence in critical locations.

The strategic approach of Host Hotels & Resorts involves a disciplined allocation of capital and aggressive asset management. This strategy enables the company to maximize shareholder value while maintaining a portfolio of high-quality lodging properties.

Federal Realty Investment Trust (FRT)

Market Capitalization: $8.40 Billion
Dividend Yield (TTM): 4.25%
Industry: REIT – Retail
Headquarters: North Bethesda, Maryland

Federal Realty Investment Trust (FRT), another S&P 500 index member, specializes in properties located primarily in major coastal markets, spanning from Washington, D.C. to Boston, and extending to San Francisco and Los Angeles.

The company’s investment approach is rooted in its commitment to long-term, sustainable growth by targeting communities where the demand for retail space outstrips supply. This approach focuses on investing in locations with high-income demographics and dense populations, which offer more excellent stability and growth potential.

Besides, Federal Realty’s strategy involves creating and managing urban, mixed-use neighborhoods. These developments integrate retail, residential, and office spaces, creating vibrant communities that serve as destination experiences. Examples of such developments include Santana Row in San Jose, Pike & Rose in North Bethesda, and Assembly Row in Somerville. These projects are designed to attract a diverse mix of tenants and residents, thereby driving foot traffic and ensuring a steady income stream.

Federal Realty’s portfolio comprises 102 properties, housing approximately 3,300 tenants across 26 million square feet. The company has increased its quarterly dividends for 56 consecutive years, marking the longest record in the REIT industry.

Omega Healthcare Investors, Inc. (OHI)

Market Capitalization: $7.51 Billion
Dividend Yield (TTM): 8.78%
Industry: REIT – Healthcare Facilities
Headquarters: Hunt Valley, Maryland

Omega Healthcare Investors, Inc. (OHI) is a notable REIT that primarily invests in the long-term healthcare industry, focusing on skilled nursing and assisted living facilities. Its portfolio extends across various regions in the United States and the United Kingdom, reflecting its international reach.

Omega’s assets are managed under a triple-net lease structure, a common practice in the REIT industry, providing a diverse range of healthcare companies the flexibility to operate these facilities effectively.

Omega’s investment strategy is centered on a commitment to the long-term healthcare sector, recognizing the growing demand for such facilities due to demographic shifts and an aging population.

Financial prudence is a cornerstone of Omega’s strategy. The company maintains a strong balance sheet and a conservative approach to leverage, ensuring financial stability and the ability to capitalize on investment opportunities as they arise.

AGNC Investment Corp. (AGNC)

Market Capitalization: $6.76 Billion
Dividend Yield (TTM): 14.44%
Industry: REIT – Mortgage
Headquarters: Bethesda, Maryland

AGNC Investment Corp. (AGNC), headquartered in Bethesda, Maryland, is a REIT specializing in mortgage REITs. Founded in 2008, AGNC primarily invests in residential mortgage pass-through securities and collateralized mortgage obligations. These investments are unique because they are guaranteed either by U.S. Government-sponsored enterprises like Fannie Mae and Freddie Mac or by U.S. Government agencies.

AGNC operates its investments predominantly through a structure known as collateralized borrowings, typically structured as repurchase agreements. This financial strategy is designed to maximize the returns from their investments in mortgage-backed securities.

With a focus on providing private capital to the U.S. housing market, AGNC plays a significant role in enhancing liquidity in the residential real estate mortgage markets. This, in turn, supports homeownership in the U.S., aligning the company’s operations with broader economic and social objectives.

COPT Defense Properties (CDP)

Market Capitalization: $2.88 Billion
Dividend Yield (TTM): 4.46%
Industry: REIT – Office
Headquarters: Columbia, Maryland

COPT Defense Properties (CDP), formerly Corporate Office Properties Trust, is a REIT specializing in owning, operating, and developing properties catering to the United States Government defense installations and missions. Established in 1988, COPT Defense Properties focuses on properties in critical locations that support national security, defense, and information technology (IT) related activities. This strategic positioning allows them to serve tenants primarily engaged in priority national security activities.

Additionally, COPT is an S&P MidCap 400 Company. As of mid-2023, COPT’s core portfolio consisted of 192 properties, encompassing 22.9 million square feet and was 95% leased.

The company’s commitment to supporting critical national security missions through its real estate investments sets it apart from other REITs that might focus on more traditional commercial or residential properties.

RLJ Lodging Trust (RLJ)

Market Capitalization: $1.80 Billion
Dividend Yield (TTM): 2.68%
Industry: REIT – Hotel & Motel
Headquarters: Bethesda, Maryland

RLJ Lodging Trust (RLJ), based in Bethesda, Maryland, is a self-advised, publicly traded REIT focusing on the hotel and motel industry. Established with a strategic emphasis on owning primarily premium-branded, high-margin, focused-service, and compact full-service hotels, RLJ Lodging Trust stands out in the REIT sector for its specific market segment.

The company’s portfolio is substantial, consisting of 96 hotels with approximately 21,200 rooms, strategically located across 23 states and the District of Columbia. Additionally, RLJ Lodging Trust holds an ownership interest in one unconsolidated hotel with 171 rooms.

RLJ Lodging Trust’s corporate governance, as of January 1, 2024, is indicated by an ISS Governance QualityScore of 4. This score is a comprehensive measure of the company’s corporate governance practices, with specific pillar scores in areas such as Audit, Board, Shareholder Rights, and Compensation.

In early 2024, this company demonstrated a dynamic presence in the stock market, with a market capitalization of $3.613 billion and a PE ratio of 37.26.

JBG SMITH Properties (JBGS)

Market Capitalization: $1.65 Billion
Dividend Yield (TTM): 5.27%
Industry: REIT – Office
Headquarters: Bethesda, Maryland

JBG SMITH Properties (JBGS), based in Bethesda, Maryland, is a REIT focusing on the Washington metropolitan area. Established in 1957, the company has a rich history that began as a real estate law practice by three attorneys, Gerald J. Miller, Donald A. Brown, and Joseph Bernard Gildenhorn, in Rockville, Maryland. It later transitioned into a real estate development company, with Benjamin A. Jacobs joining the firm in 1962.

As a REIT, JBG SMITH Properties focuses on owning, operating, investing in, and developing assets concentrated in urban infill submarkets around Washington, D.C. Its mixed-use operating portfolio comprises approximately 20 million square feet of office, multifamily, and retail assets, with a significant portion being Metro-served. The company’s emphasis on placemaking is designed to create amenity-rich, walkable neighborhoods.

Saul Centers, Inc. (BFS)

Market Capitalization: $936.44 Million
Dividend Yield (TTM): 5.98%
Industry: REIT – Retail
Headquarters: Bethesda, Maryland

Saul Centers, Inc. (BFS), headquartered in Bethesda, Maryland, is a self-managed, self-administered equity REIT. It was listed on the New York Stock Exchange in 1993 and operates under the ticker symbol BFS. The company specializes in the ownership, operation, and management of community and neighborhood shopping centers, along with mixed-use properties, primarily in the metropolitan Washington, D.C./Baltimore area.

As of recent reports, Saul Centers manages a diverse real estate portfolio that includes 61 properties. This portfolio comprises 50 community and neighborhood shopping centers, seven mixed-use properties with approximately 9.8 million square feet of leasable area, and four non-operating land and development properties. The company’s strategic focus on the Washington, D.C./Baltimore area contributes to over 85% of its property operating income.

The company’s strategic emphasis on high-density urban areas positions Saul Centers uniquely in the REIT market, distinguishing it from other players that might focus on more diversified geographical distributions.

GBTC Candlestick Chart

Long — Tue, 16 Jan 2024 06:53:02 +0000

(Grayscale Bitcoin Trust Candlestick Chart)

IBIT Candlestick Chart

Long — Tue, 16 Jan 2024 06:31:12 +0000

(iShares Bitcoin Trust Candlestick Chart)

Illinois REITs: The Best Market Movers in The Prairie State

Long — Tue, 16 Jan 2024 05:04:31 +0000

Real Estate Investment Trusts (REITs) in Illinois represent a remarkable segment of the state’s economy, characterized by their resilience and potential for growth. Situated in a region known for its diverse real estate landscape, these REITs encompass a range of properties, from dynamic urban spaces to expanding suburban areas. In this article, we will delve into some of the top Illinois REITs, shedding light on their significance.

Key Takeaways – Best Illinois REITs Chart

REIT	Market Cap	Dividend Yield (TTM)	Industry
Equity Residential (EQR)	$23.46 Billion	4.23%	Residential
Ventas, Inc. (VTR)	$19.28 Billion	3.70%	Healthcare Facilities
Equity LifeStyle Properties, Inc. (ELS)	$13.01 Billion	2.50%	Residential
First Industrial Realty Trust, Inc. (FR)	$6.98 Billion	2.35%	Industrial
Equity Commonwealth (EQC)	$2.07 Billion	–	Office
InvenTrust Properties Corp. (IVT)	$1.71 Billion	3.35%	Retail

Equity Residential (EQR)

Market Capitalization: $23.46 Billion
Dividend Yield (TTM): 4.23%
Industry: REIT – Residential
Headquarters: Chicago, Illinois

Equity Residential (EQR), headquartered in Chicago, Illinois, was established with an IPO date on August 11, 1993. It operates under the guidance of key executives, including Samuel Zell as the Founder and Chairman, and Mark J. Parrell as the President and CEO.

It primarily focuses on acquiring, developing, and managing residential properties.

EQR’s portfolio comprises 305 properties with approximately 80,683 apartment units. The company strategically focuses on urban and high-density suburban coastal gateway markets, targeting areas that appeal to affluent long-term renters. These markets include Boston, New York, Washington, D.C., Seattle, San Francisco, and Southern California, with expanding operations in Denver, Atlanta, Dallas/Ft. Worth, and Austin.

The company has shown a varied performance over recent years, with a 1-year return of approximately 9.79%, but a more modest long-term return over the past decade.

Investors and analysts have varied views on EQR’s future performance. Some see potential for strong yields and growth, especially considering recent changes in eviction moratoriums in key markets like Los Angeles. These changes could positively impact EQR’s ability to generate rents. However, opinions differ, and the overall outlook for EQR requires careful consideration of its coastal market exposure and the quality of its developments.

Ventas, Inc. (VTR)

Market Capitalization: $19.28 Billion
Dividend Yield (TTM): 3.70%
Industry: REIT – Healthcare Facilities
Headquarters: Chicago, Illinois

Ventas Inc. (VTR) is an S&P 500 company. Founded on May 4, 1998, and headquartered in Chicago, Illinois, Ventas has developed a robust portfolio encompassing approximately 1,400 properties across the United States, Canada, and the United Kingdom.

Ventas specializes in senior housing communities, outpatient medical buildings, research centers, hospitals, and other healthcare facilities. This diverse portfolio is driven by demographic demand, particularly from the aging population. The company leverages its capital to enhance the value of these properties, reflecting its strategic intersection of healthcare and real estate.

The company’s long-term strategy, honed over 20 years, emphasizes diversification across property types, capital sources, and industry partnerships. Ventas is known for its financial strength, flexibility, consistent growth, and significant achievements in environmental, social, and governance (ESG) aspects.

Regarding financial performance, Ventas focuses on adjusted Funds From Operations (FFO). The company’s valuation tends to follow its historical average of 15x P/FFO, offering opportunities for both buying and rotating. As of fall 2022, Ventas had seen a valuation of around 12.5x P/FFO, and by early 2024, it was around 14.3x.

Despite the positive outlook, Ventas, like other REITs, faces challenges, particularly from inflation, wage increases, and the overall labor market. These factors could impact rent coverage and growth prospects.

Equity LifeStyle Properties, Inc. (ELS)

Market Capitalization: $13.01 Billion
Dividend Yield (TTM): 2.50%
Industry: REIT – Residential
Headquarters: Chicago, Illinois

Equity LifeStyle Properties, Inc. (ELS) is a significant player in the REIT sector, particularly in residential properties. As of October 16, 2023, ELS owns or has interests in 450 properties across 35 states and British Columbia, encompassing 171,707 sites.

ELS stands out for its approach to growth. The company’s expansion strategy has been mainly funded through capital recycling, judicious use of debt, retained cash, and low-cost in-house development, rather than equity issuance. This approach has allowed ELS to grow its asset portfolio steadily, albeit slower than some of its peers.

Moreover, ELS has been remarkable in its dividend growth, showcasing 17 consecutive years of dividend growth. It demonstrates the company’s commitment to returning value to its shareholders. Despite a lower starting dividend yield, ELS’s track record in dividend growth surpasses its peers, making it an attractive option for long-term investors focused on total returns and steady income growth.

First Industrial Realty Trust, Inc. (FR)

Market Capitalization: $6.98 Billion
Dividend Yield (TTM): 2.35%
Industry: REIT – Industrial
Headquarters: Chicago, Illinois

First Industrial Realty Trust, Inc. (FR), based in Chicago, Illinois, is a REIT specializing in logistics properties. Founded in 1993, it focuses exclusively on the U.S. market. As of September 30, 2023, First Industrial Realty Trust’s portfolio encompasses approximately 69.4 million square feet of industrial space, highlighting its significant role in the logistics and industrial sectors.

Strategic acquisitions and development mark the company’s history. In the mid-1990s, it expanded its portfolio significantly through UPREIT transactions, entering new markets and acquiring numerous properties. However, the late 1990s brought challenges, with a downturn in REIT stock prices affecting First Industrial Realty Trust’s acquisition capabilities.

Despite these challenges, the company adapted by focusing on top industrial markets, catering to the demands of the burgeoning e-commerce and supply chain management industries. This shift towards targeting the top 25 industrial real estate markets in the U.S. was a strategic move to capitalize on the rising demand from these sectors.

Now, the company has a well-defined strategy of investing in supply-constrained, coastally-oriented markets across 15 target Metropolitan Statistical Areas (MSAs). This strategic focus positions it advantageously within the industrial real estate market, catering to the needs of multinational corporations and regional firms integral to supply chains.

Equity Commonwealth (EQC)

Market Capitalization: $2.07 Billion
Dividend Yield (TTM): –
Industry: REIT – Office
Headquarters: Chicago, Illinois

Equity Commonwealth (EQC) is an Illinois-based REIT in the commercial real estate sector. It primarily focuses on commercial office properties across the United States. As of 2024, the REIT manages a portfolio of four properties, collectively covering approximately 1.5 million square feet.

Despite the challenges posed by the pandemic and the trend towards remote work, Equity Commonwealth’s stable office position and portfolio, backed by a strong balance sheet, suggest a cautious yet potentially rewarding opportunity for investors willing to engage with the office REIT sector at current valuations.

InvenTrust Properties Corp. (IVT)

Market Capitalization: $1.71 Billion
Dividend Yield (TTM): 3.35%
Industry: REIT – Retail
Headquarters: Downers Grove, Illinois

InvenTrust Properties Corp. (IVT) is a distinguished REIT specializing in multi-tenant essential retail properties. IVT has carved a niche in the Sun Belt region, focusing on grocery-anchored neighborhood and community centers, as well as high-quality power centers with grocery components.

Founded in 2005, InvenTrust has been committed to acquiring and managing retail properties in high-growth Sun Belt markets. Its major tenants include well-known names like Kroger, Costco, and Trader Joe’s. This strategic approach involves acquiring and opportunistically disposing of retail properties.

Furthermore, IVT strongly emphasizes maintaining a flexible capital structure and enhancing environmental, social, and governance (ESG) practices. It’s worth noting that InvenTrust has been a member of the Global Real Estate Sustainability Benchmark (GRESB) since 2013, underlining its dedication to ESG principles.

As for its financial performance, InvenTrust distributed a dividend per share of $0.2155 in the third quarter, marking a 5% increase compared to the previous year. This translates to a current dividend yield of 3.4%. Looking ahead, the company is expected to generate $1.39 in adjusted Funds From Operations (FFO) in 2024, implying a payout ratio of 62%, which is considered low. This suggests that InvenTrust has considerable room to increase its dividend in the coming years.

California REITs: The Best Assets in the Golden State

Long — Fri, 12 Jan 2024 13:06:11 +0000

California REITs market, characterized by diversity and resilience, is a testament to strategic investment opportunities. In this article, we will explore some of the most valuable assets in the California REITs market and reveal how these trusts have become synonymous with both growth and stability.

Key Takeaways – Best California REITs Chart

REIT	Market Cap	Dividend Yield (TTM)	Industry
Prologis, Inc. (PLD)	$122.95 Billion	2.55%	Industrial
Equinix, Inc. (EQIX)	$74.98 Billion	1.66%	Specialty
Public Storage (PSA)	$52.21 Billion	3.67%	Industrial
Realty Income Corporation (O)	$42.92 Billion	5.10%	Retail
Alexandria Real Estate Equities, Inc. (ARE)	$22.30 Billion	3.78%	Office
Essex Property Trust, Inc. (ESS)	$15.91 Billion	3.68%	Residential
Rexford Industrial Realty, Inc. (REXR)	$11.88 Billion	2.58%	Industrial
Sabra Health Care REIT, Inc. (SBRA)	$3.17 Billion	8.68%	Healthcare Facilities

Prologis, Inc. (PLD)

Market Capitalization: $122.95 Billion
Dividend Yield (TTM): 2.55%
Industry: REIT – Industrial
Headquarters: San Francisco, California

Prologis, Inc. (PLD) is one of the global leaders in the REITs market. The company specializes in leasing modern distribution facilities, catering to a wide range of clients, including business-to-business and retail/online fulfillment sectors. Its client roster includes notable names like DHL, Kuehne + Nagel, Home Depot Inc., Unilever, and FedEx.

It has a significant international presence, managing properties across North America, Europe, Asia, and South America.

As of mid-2023, the company’s portfolio included properties and development projects expected to total approximately 1.2 billion square feet. The company’s financial performance reflects its success, with its shares surging 18.2% in 2023, significantly outperforming the industry’s growth.

Over the past decade, Prologis has delivered impressive returns to its investors, outperforming both the S&P 500 and the MSCI US REIT Index with a total shareholder return of over 400%. The company’s assets are well-positioned to perform well in an inflationary environment, with several tailwinds expected to drive strong FFO growth in the future. Prologis has also demonstrated an ability to underwrite mark-to-market rent increases, providing significant opportunities for future earnings growth.

The company’s diverse customer base, with the top 10 customers accounting for less than 15% of its portfolio, highlights its robust and well-diversified business model, offering stability in various market conditions.

Equinix, Inc. (EQIX)

Market Capitalization: $74.98 Billion
Dividend Yield (TTM): 1.66%
Industry: REIT – Specialty
Headquarters: Redwood City, California

Equinix, Inc. (EQIX), a California-based REIT, specializes in digital infrastructure. Founded on August 11, 2000, Equinix has become a leader in providing data center and connectivity solutions.

Equinix operates a global network of data centers called International Business Exchanges (IBXs). This network allows organizations to access vital places, partners, and possibilities, enabling them to scale with agility, expedite the launch of digital services, deliver superior experiences, and enhance their value.

Equinix’s data center network spans several countries and continents, including the Americas, Asia-Pacific, Europe, and the Middle East. Notable expansions include the acquisition of Main One, a West African data center and connectivity solutions provider, for $320 million in December 2021; expansion into Chile and Peru with a $758 million acquisition of four data centers from Entel in March 2022; and the announcement of its market entry into Malaysia with plans to build a new IBX data center in Johor Bahru, scheduled to begin operations in Q1 2024.

By signing deals with wind farms in Texas and Oklahoma, Equinix aimed to offset the energy consumption of its North American data center portfolio. The U.S. Environmental Protection Agency recognized Equinix’s efforts by naming it one of the 17 Green Power Partners leading the transition to renewable energy in 2019.

Public Storage (PSA)

Market Capitalization: $52.21 Billion
Dividend Yield (TTM): 3.67%
Industry: REIT – Industrial
Headquarters: Glendale, California

Public Storage (PSA) is a REIT specializing in acquiring, developing, and operating self-storage facilities. As of September 30, 2023, Public Storage had interests in 3,028 self-storage facilities located across 40 states in the United States, encompassing approximately 217 million net rentable square feet. Additionally, the company holds a 35% common equity interest in Shurgard Self Storage Limited, which operates 267 self-storage facilities across seven Western European countries under the Shurgard brand, covering around 15 million net rentable square feet.

Public Storage is a member of both the S&P 500 and FT Global 500, reflecting its significant influence and scale in the real estate sector.

Founded in the late 1980s, Public Storage has a history of being a significant player in the self-storage industry. It underwent a notable restructuring in 1995, merging with its self-storage REIT, Storage Equities Inc., to form a single REIT, Public Storage Inc.

Besides the storage facilities, the company’s business model also includes a merchandising business, a third-party property management business, and an insurance business offering products to cover losses for goods in self-storage facilities.

Realty Income Corporation (O)

Market Capitalization: $42.92 Billion
Dividend Yield (TTM): 5.10%
Industry: REIT – Retail
Headquarters: San Diego, California

Realty Income Corporation, also known as “The Monthly Dividend Company,” is a notable REIT based in California. As an S&P 500 company and a member of the S&P 500 Dividend Aristocrats index, Realty Income has been delivering dependable monthly dividends that steadily increase.

Founded in 1969 by William E. Clark and Evelyn J. Clark, Realty Income has a long-standing history in the real estate industry. The company’s first acquisition was a Taco Bell restaurant in 1970. Over the years, it has grown significantly.

Realty Income invests primarily in free-standing, single-tenant commercial properties across the United States, Spain, and the United Kingdom, subject to triple-net (NNN) leases. As of March 31, 2022, the company owned 11,288 properties totaling approximately 213.9 million leasable square feet. Its largest tenants include prominent names like Walgreens, 7-Eleven, Dollar General, and FedEx, among others.

The company became public in 1994 and has since declared 640 consecutive monthly dividends. It has increased its dividend 122 times since its public listing.

Alexandria Real Estate Equities, Inc. (ARE)

Market Capitalization: $22.30 Billion
Dividend Yield (TTM): 3.78%
Industry: REIT – Office
Headquarters: Pasadena, California

Alexandria Real Estate Equities, Inc. (ARE) is a prominent S&P 500 company specializing as a life science REIT. Founded in 1994 and headquartered in California, Alexandria is known for being the pioneer and longest-tenured owner, operator, and developer of collaborative life science, agtech, and advanced technology mega campuses in AAA innovation cluster locations. These locations include Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and the Research Triangle.

The company focuses on creating highly dynamic and collaborative environments for its tenants, including over 800 life science, agrifoodtech, climate innovation, and technology companies. Its largest tenants include notable companies like Bristol-Myers Squibb, Moderna, Eli Lilly and Company, and Takeda Pharmaceutical Company, which contribute significantly to the company’s revenue.

In addition to its real estate operations, Alexandria also provides strategic capital to transformative companies through its venture capital platform. The company’s unique business model and rigorous underwriting process aim to ensure a high-quality and diverse tenant base, resulting in higher occupancy levels, longer lease terms, higher rental income, higher returns, and greater long-term asset value.

Essex Property Trust, Inc. (ESS)

Market Capitalization: $15.91 Billion
Dividend Yield (TTM): 3.68%
Industry: REIT – Residential
Headquarters: San Mateo, California

Essex Property Trust, Inc. (ESS) is a distinguished S&P 500 company and a fully integrated REIT specializing in acquiring, developing, redeveloping, and managing multifamily residential properties. Based in San Mateo, California, Essex Property Trust focuses primarily on selected West Coast markets.

Founded in 1971 by billionaire George M. Marcus, Essex Property Trust became a public company on June 13, 1994, through an initial public offering. In April 2014, Essex Property Trust significantly expanded its portfolio by acquiring BRE Properties for $4.3 billion, further solidifying its position in the REIT sector and leading to its inclusion in the S&P 500 index.

As of recent updates, Essex Property Trust has a significant presence with ownership interests in 252 apartment communities, encompassing approximately 62,000 apartment homes, along with an additional property under active development. It is recognized as the 10th largest owner of apartments and the 20th largest apartment property manager in the United States.

Essex Property Trust places a strong emphasis on tenant satisfaction. By maintaining high-quality properties and offering desirable amenities, they aim to attract and retain tenants, which is crucial for ensuring steady rental income and minimizing vacancy rates.

Rexford Industrial Realty, Inc. (REXR)

Market Capitalization: $11.88 Billion
Dividend Yield (TTM): 2.58%
Industry: REIT – Industrial
Headquarters: Los Angeles, California

Rexford Industrial Realty, Inc. (REXR) is a REIT focusing on acquiring, operating, and redeveloping industrial properties in Southern California. This region, characterized by its high-barrier submarkets, is one of the largest global industrial markets.

The company specializes in “infill” industrial real estate, which refers to properties within densely populated areas where industrial development is limited. These locations are typically surrounded by urban development, creating scarce available land for new construction.

Central to Rexford Industrial’s business model is a customer-centric approach. Managing tenants directly, the company aims to deliver functional space in their sub-markets, supported by effective property management and communication technologies.

Sabra Health Care REIT, Inc. (SBRA)

Market Capitalization: $3.17 Billion
Dividend Yield (TTM): 8.68%
Industry: REIT – Healthcare Facilities
Headquarters: Irvine, California

Sabra Health Care REIT focuses on the healthcare real estate sector. As of September 30, 2023, the company’s portfolio included a diverse array of 377 real estate properties held for investment. This company’s portfolio is spread across various healthcare industry segments, including 240 Skilled Nursing/Transitional Care facilities, 43 senior housing communities under lease, 61 senior housing communities managed by third-party property managers, 18 Behavioral Health facilities, and 15 Specialty Hospitals and Other facilities. Additionally, Sabra’s investments extend to loans receivable, preferred equity investments, and unconsolidated joint ventures.

The breadth of Sabra’s real estate properties, encompassing 37,606 beds/units, is distributed throughout the United States and Canada. Sabra’s operations include nursing facilities, assisted living centers, and mental health facilities, addressing various healthcare needs.

Despite Sabra’s diversified portfolio, the company faces particular challenges. For instance, their financial strength indicators reveal concerns about balance sheet health, including a low interest coverage ratio and a low Altman Z-Score, suggesting potential financial distress. Additionally, the company’s revenue has declined over the past three years, and there has been a decrease in earnings before interest, taxes, depreciation, and amortization (EBITDA) over the past five years.

Investors looking at Sabra Health Care REIT, Inc. should thus consider these financial health and growth metrics alongside the company’s operational strengths in the healthcare real estate market.

GLD Candlestick Chart

Long — Thu, 11 Jan 2024 15:14:05 +0000

(SPDR Gold Trust Candlestick Chart)

New York REITs: Top Picks in The City That Never Sleeps

Long — Wed, 10 Jan 2024 09:13:58 +0000

In New York City, the land of dreams and endless potential, real estate is a pillar of financial growth and stability. Today, we will introduce some of the best New York REITs, exploring the most prestigious and high-performing opportunities in this dynamic market.

Key Takeaways – Best New York REITs Chart

REIT	Market Cap	Dividend Yield (TTM)	Industry
VICI Properties, Inc. (VICI)	$32.77 Billion	4.97%	Diversified
W. P. Carey Inc. (WPC)	$14.18 Billion	6.61%	Diversified
Kimco Realty Corporation (KIM)	$14.03 Billion	4.42%	Retail
Brixmor Property Group Inc. (BRX)	$6.79 Billion	4.57%	Retail
Vornado Realty Trust (VNO)	$5.32 Billion	3.25%	Office
Blackstone Mortgage Trust, Inc. (BXMT)	$3.66 Billion	11.80%	Mortgage
Global Net Lease (GNL)	$2.25 Billion	16.38%	Diversified
Apollo Commercial RE Finance, Inc. (ARI)	$1.63 Billion	12.27%	Mortgage

VICI Properties, Inc. (VICI)

Market Capitalization: $32.77 Billion
Dividend Yield (TTM): 4.97%
Industry: REIT – Diversified
Headquarters: New York City, New York

VICI Properties Inc. (VICI) is a REIT known for owning and managing a portfolio mainly consisting of casinos and entertainment venues. Their assets include 54 gaming facilities and 39 experiential properties across the U.S. and Canada, totaling about 127 million square feet. Caesars Palace, MGM Grand, and the Venetian Resort in Las Vegas are notable properties under their ownership. Additionally, VICI has expanded its holdings to include four championship golf courses and a significant parcel of undeveloped land near the Las Vegas Strip.

VICI’s business strategy emphasizes building a portfolio of high-quality, income-generating experiential assets. They achieve this by partnering with top-tier brands and operators, exploring development opportunities (such as their 33 acres of undeveloped land in Las Vegas), and maintaining a well-structured capital foundation to foster growth.

The company primarily earns its revenue through renting and leasing its properties. A smaller portion of their income comes from a share in gaming revenues, along with other sources like parking and property management fees.

W. P. Carey Inc. (WPC)

Market Capitalization: $14.18 Billion
Dividend Yield (TTM): 6.61%
Industry: REIT – Diversified
Headquarters: New York City, New York

W. P. Carey Inc. (WPC) is a REIT specializing in net lease properties, celebrating its 50th year in operation. The company has a diverse and high-quality portfolio, including 1,413 net lease properties spanning about 171 million square feet and 86 self-storage facilities. WPC primarily invests in properties crucial for the operations of single tenants, focusing on industrial, warehouse, and retail spaces. These properties are mainly located in the United States and in Northern and Western Europe. They are typically under long-term net leases, including regular rent increases provisions.

A significant recent change for W. P. Carey has been the separation of its office property holdings into a new, distinct entity, NLOP. Although this spin-off initially met with a lukewarm response from the market, it is expected to enhance W. P. Carey’s overall business strategy. Post spin-off, the company’s portfolio is more concentrated on industrial, warehouse, and retail assets, sectors that are believed to have better growth opportunities in the medium to long term. This strategic shift is intended to refine WPC’s focus and is anticipated to lead to a higher market valuation in the future potentially.

Kimco Realty Corporation (KIM)

Market Capitalization: $14.03 Billion
Dividend Yield (TTM): 4.42%
Industry: REIT – Retail
Headquarters: Jericho, New York

Kimco Realty Corporation (KIM), with a history of over 60 years, focuses on owning, managing, acquiring, and redeveloping shopping centers. As of September 2023, Kimco has interests in 527 shopping centers and mixed-use properties across the U.S., totaling 90 million square feet of rentable space. The company’s properties are strategically located in the suburbs close to major cities, focusing on areas with high entry barriers, like coastal markets, and rapidly growing Sun Belt regions.

In its commitment to environmental, social, and governance (ESG) practices, Kimco has made significant strides as detailed in its Corporate Responsibility Report. Notable accomplishments include dedicating spaces for outdoor community activities in more than 20% of their properties and enhancing water efficiency in these areas by over 20% since 2020. Additionally, Kimco invests upwards of $10 million each year in eco-friendly initiatives such as efficient lighting, smart metering systems, and irrigation projects to meet its ESG objectives, including specific science-based targets. To reinforce its ESG commitment, Kimco has linked its executives’ compensation to achieving ESG milestones and has expanded its ESG-focused team.

Brixmor Property Group Inc. (BRX)

Market Capitalization: $6.79 Billion
Dividend Yield (TTM): 4.57%
Industry: REIT – Retail
Headquarters: New York City, New York

Brixmor Property Group Inc. (BRX) specializes in owning and operating open-air shopping centers across the United States. Its portfolio has grown to encompass 380 retail centers, which together offer around 67 million square feet of premium retail space. These centers are strategically located in established commercial areas.

The company’s leasing strategy is diverse, offering various types of retail spaces, including standard units, pad sites or outparcels for standalone establishments, flexible short-term or pop-up spaces, and second-generation spaces previously used by other retailers. Brixmor is also actively acquiring new properties and redeveloping existing ones. Their ongoing and completed redevelopment projects demonstrate their commitment to improving and expanding their portfolio.

Brixmor strongly emphasizes corporate responsibility, incorporating Environmental, Social, and Governance (ESG) principles in its business operations. As outlined in their latest Corporate Responsibility Report, Brixmor has made significant progress in reducing Scope 1 and 2 greenhouse gas emissions, increasing on-site renewable energy systems, and transitioning a large portion of their properties to energy-efficient LED lighting.

Additionally, Brixmor is committed to advancing Diversity, Equity, and Inclusion (DEI) within its operations. This is evident through their inclusive hiring practices, support for early career development, mentorship programs, and educational initiatives. The company has maintained an average gender pay gap of zero for several years and has also tied the bonuses of its executives to the achievement of specific ESG objectives.

Vornado Realty Trust (VNO)

Market Capitalization: $5.32 Billion
Dividend Yield (TTM): 3.25%
Industry: REIT – Office
Headquarters: New York City, New York

Vornado Realty Trust (VNO) is a real estate company focusing on office and retail properties, predominantly in New York City, with additional critical holdings in Chicago and San Francisco. The company’s portfolio is primarily divided into two categories: approximately 20 million square feet of high-end office space in New York City’s prime urban areas, and over 2.4 million square feet of Manhattan street retail, making it the largest owner and manager in this sector. Additionally, Vornado owns nearly 2 million square feet of prime retail spaces and significant advertising displays in areas with high foot traffic, such as Times Square and the entrance to Pennsylvania Station on 34th Street.

Vornado is deeply committed to sustainability, evident in their policy of integrating eco-friendly practices into their properties, operations, and corporate ethos. This commitment not only aligns with environmental responsibility but also provides a competitive edge in sustainable real estate management.

The company has ambitious goals, including reducing its energy consumption by 50% by 2030, enhancing water efficiency, and minimizing waste production. Furthermore, Vornado aims to achieve net-zero carbon emissions by 2050 and has initiated several projects to support this objective. These projects include developing renewable energy sources on-site, eliminating the use of fuel oil, transitioning to electricity from renewable sources, and electrifying their operations. Vornado has also invested heavily in sustainable initiatives, such as upgrading a large portion of their buildings to energy-efficient LED lighting and starting organic waste recycling programs in their New York office locations.

Blackstone Mortgage Trust, Inc. (BXMT)

Market Capitalization: $3.66 Billion
Dividend Yield (TTM): 11.80%
Industry: REIT – Mortgage
Headquarters: New York City, New York

Blackstone Mortgage Trust, Inc. (BXMT) is a company that specializes in creating senior loans backed by commercial real estate. Their operations are mainly in North America, Europe, and Australia, where they focus on providing financing for high-quality, large-scale (institutional-grade) real estate projects.

Founded in 1998, Blackstone Mortgage Trust’s primary goal is safeguarding and growing its shareholders’ investments while delivering attractive returns adjusted for risk. These returns are generated mainly from the income produced by its diverse loan portfolio.

The company’s loan portfolio consists mainly of loans backed by high-end, institutional properties in major global markets. The entities that receive these loans are typically experienced and financially robust real estate investors and operators. Blackstone Mortgage Trust employs various financing strategies to fund these senior loans, always keeping in line with its commitment to careful investment management.

Global Net Lease (GNL)

Market Capitalization: $2.25 Billion
Dividend Yield (TTM): 16.38%
Industry: REIT – Diversified
Headquarters: New York City, New York

Global Net Lease, Inc. (NYSE: GNL) is a REIT specializing in acquiring a diverse range of commercial properties globally. The company’s primary focus is sale-leaseback deals, which involve single-tenant properties essential for the tenant’s operations (termed “mission-critical”) and generate consistent rental income. These properties are net-leased, meaning tenants cover most of the operating expenses. GNL’s investments are primarily in the United States, Western and Northern Europe, and strategically chosen Necessity Retail locations.

GNL’s investment approach, centered on sale-leaseback transactions with single-tenant, mission-critical properties, ensures a stable and predictable rental income stream. This approach enhances the stability and longevity of the company’s operations. GNL targets investment-grade tenants known for stable cash flows, focuses on long-term leases with contractual rent increases, and maintains a solid financial position characterized by a conservative capital structure, robust cash flows, and low debt levels.

As of 2023, GNL’s portfolio includes more than 1,300 properties across 11 countries, covering over 66 million square feet. This portfolio, valued at $9.2 billion, is carefully curated through a stringent investment and underwriting process. It primarily comprises industrial and distribution facilities, necessity retail spaces, and mission-critical office properties in the U.S. and Western Europe. GNL reports a high occupancy rate of 96% and notes that 58% of its Straight Line Rent (a measure of rent income) comes from tenants with investment-grade credit ratings.

Apollo Commercial RE Finance, Inc. (ARI)

Market Capitalization: $1.63 Billion
Dividend Yield (TTM): 12.27%
Industry: REIT – Mortgage
Headquarters: New York City, New York

Apollo Commercial Real Estate Finance, Inc. (ARI) is a REIT that primarily provides, acquires, invests in, and manages a range of commercial real estate debt instruments. These include first mortgage loans and subordinate financings. ARI operates both in the United States and Europe.

A notable feature of ARI’s business model is its high use of leverage, with a debt-to-equity ratio of about 3.05. This leverage is key to generating high dividend yields for its shareholders. However, it also introduces an element of risk, particularly given the real estate market’s tendency to fluctuate cyclically.

Current macroeconomic conditions, such as the prevailing inflation and the potential for economic downturns, pose additional risks to ARI. These factors can significantly affect the broader real estate market, which in turn can impact ARI’s financial stability. While higher interest rates might initially increase returns, they could also harm long-term sustainability if they lead to decreased economic activity and fewer new mortgage loans.

Despite these risks, ARI might be an attractive option for investors seeking undervalued assets. This is suggested by its price-to-book (P/B) ratio of 0.77, which is lower than many of its competitors. This implies that the market may underestimate the company’s net asset value.