Week Ended 5/26/17

Investment highlights Whitestone (WSR) has gotten very cheap.  Just a few months ago it was nearly $15 per share when an ill-timed equity offering sent the shares plunging to an issuance price of $13.00.  With retail fears hitting a crescendo, it continued dropping to...

Week Ended 5/19/17

A messy trading environment Correlations are up with groups trading as one.  Triple net REITs have traded down in unison as retail fears expand.  Interestingly, this concern has dominated as interest rates fell which would usually make NNN REITs go up.  This creates...

Week Ended 5/12/17

New position This week we bought a small position in Preferred Apartment Communities (APTS) with intent to buy more as opportunities present.  With a strong fundamental backdrop and acquisitions kicking in, APTS should be able to grow FFO/share at a decent clip. ...

Week Ended 5/5/17

2CHYP remains active As you know, 2CHYP is an actively managed portfolio which means it is adaptive to market environments.  Essentially, we try to create alpha in 2 ways: Stock selection: Owning positive active weights in superior stocks Return enhancement:...

SRC update

What’s going on with Spirit Realty (SRC)? In reporting 1Q17 earnings it came to light that SRC has some tenant defaults which are interrupting their revenue stream.  Most notably, many of the Haggen stores and ShopKo stores have stopped paying rent.  This has caused...