iREIT Daily

Two 90-Year-Olds Announce an In-Person Event in the Midst of Covid

Brad Thomas

467 postsJanuary 26, 2022

Here’s some great news for reopening trades…

Berkshire Hathaway (BRK-A) (BRK-B) scheduled its annual shareholder meeting for April 30. And “at this time,” it expects the event to be in-person.

Keep in mind this is a company run by a 91-year-old and a 98-year-old. Yet both Warren Buffett and Charlie Munger feel comfortable returning to public appearances.

Who knows what can happen from here! Tech companies could even start letting people back in the office!

Speaking of tech stocks, Microsoft (MSFT) reported fiscal Q2 results yesterday, with per-share earnings coming in at $2.48. That’s against expectations of $2.31, while revenue was $51.73 billion, easily beating analysts’ predictions of $50.88 billion.

Moreover, management says, since demand remains strong, Microsoft is expecting more positive results this quarter too.

Shareholders, however, weren’t convinced. The stock ended Tuesday’s trading session down 7.88 points, or 2.66%. And Texas Instruments (TXN)fell practically 2.5% despite its own optimistic outlook.

So is there hope for Tesla (TSLA) and Intel (INTC), which report today? Considering the last two days of watching Mr. Market try to make up his mind, I’m just going to wait and see.

In more big-tech news, Google (GOOG) just got hit with yet another lawsuit. This time, Washington, D.C.; Washington state; Texas; and Indiana say it tracks users no matter what.

D.C. Attorney General Karl Racine stated:

Google falsely led consumers to believe that changing their account and device settings would allow customers to protect their privacy and control what personal data the company could access. The truth is that, contrary to Google’s representations, it continues to systematically surveil customers and profit from customer data.

I think we can safely file that one away in the “go figure” category.

More Non-REIT News to Know About

Here’s some other interesting information recently released:

General Motors (GM) will convert an existing factory in Lansing, Michigan, into an electric pickup truck-making facility. That will cost it up to $4 billion, while another $1.5 billion to $2.5 billion will go toward building a battery cell plant. Both should be open and operating in about two years.
Amazon (AMZN) plans to bring its “city” technology to a Washington state suburb sometime soon… and expand from there. In 2018, it opened its first Amazon Go store in Seattle, allowing customers to “go” in, get what they need, and leave – without ever interacting with so much as a self-checkout lane.
A Yahoo Finance headline reads: “Inflationary Sentiment Spikes to Record High Among Yelp Reviewers…” In short, app users complained more the last three months about price increases at mom-and-pop stores. Yet that might not have stopped their actual spending habits. Searches for more expensive businesses rose up to 56% last year over 2019. And they dropped for those marked less pricey.

We’ll see how much more pressure such shoppers can take. As it is, the Federal Reserve Bank of Richmond just reported that products manufactured in the central-Atlantic area are 11.27% more expensive to purchase and at least 14.3% more expensive to create year-over-year.

That consumer hit is the highest increase recorded since 1997, when the institution first started tracking such things.

Oh, and here’s some insight into why Texas Instruments fell yesterday despite its positive messaging. Tech HQ reported updates from the U.S. Department of Commerce that semiconductor chip demand rose up to 17% last year… but:

… most semiconductor manufacturing facilities are operating at or above 90% utilization, meaning there is a limited additional supply to bring online without building new facilities.

And new facilities can’t be built overnight.

The World According to REITs

There’s not much to report right now on the real estate investment trust (REIT) side of things. But that’s okay by me. We see ebbs and flows in released information all the time, and we’ve still got more than enough to fill our three slots today:

Boston Properties (BXP) announced Q4 per-share funds from operations (FFO) of $1.55. It did lower its 2022 guidance by $0.05 to $7.30-$7.45. But it signed around 1.8 million square feet worth of leases last quarter with an 8.6-year weighted-average term. For the full year, that figure was 5.1 million square feet, a big jump over 2020’s 3.7 million.
Digital Realty (DLR) opened its first data center in South Korea, Digital Seoul 1, the country’s first carrier-neutral facility.
Corporate Office Properties (OFC) sold its COPT DC-6 (and therefore its entire wholesale data center reporting segment) for $222.5 million. The REIT says it will recycle that money into helping to fund its 1.8 million square-foot development projects – which were 94% leased as of September 30.

And then we have the following names and numbers, showing that some REITs did pretty well for themselves in yesterday’s market.

(Source: The Daily REITBeat)

Happy Investing

Brad Thomas

467 posts

View all my Posts

Brad Thomas is Senior Research Analyst at iREIT and CEO of Wide Moat Research LLC. With over 30 years of real estate experience, he is also long-time Editor of Forbes Real Estate Investor, a monthly subscription-based newsletter that dives deep into the vast world of profitable properties, and since 2021, he has served as an adjunct professor at New York University.

Thomas has also been featured on or in Forbes magazine, Kiplinger's, U.S. News and World Report, Money, NPR, Institutional Investor, GlobeStreet, CNN, Newsmax, and Fox. And he was the #1 contributing analyst on Seeking Alpha in 2014, 2015, 2016, 2017, 2018, 2019, 2020 and 2021 based on both page views and number of followers.

Thomas is the recently-published author of The Intelligent REIT Investor Guide (2021), co-author of The Intelligent REIT Investor (2016), and he wrote The Trump Factor: Unlocking The Secrets Behind The Trump Empire (2016) - all available on Amazon.

Thomas received a bachelor of science in business/economics from Presbyterian College and is married with five wonderful kids.

The Story I Find More Interesting Than the Federal Reserve

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

Two 90-Year-Olds Announce an In-Person Event in the Midst of Covid

Brad Thomas

467 postsJanuary 26, 2022

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Two 90-Year-Olds Announce an In-Person Event in the Midst of Covid

467 postsJanuary 26, 2022

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