Turned on Bloomberg radio this morning to some decent news. Gramercy Property Trust (“GPT”) caught a takeover bid from BlackRock at $27.50 per unit. As I mentioned before, I recently took a position in GPT. Also, there was a development late last week that might have yielded some additional “tea leaves” concerning Conagra (“CAG”) and Pinnacle Foods (“PF”). Continue reading “Merger Monday Comes to my Portfolio”
Tag: REITs
I’m Just Saying…I Bonds, Earnings, REITs, and CPG Bloodbath.
Some remarks on recent earnings (or non-earnings in the case of REITs) and other items of interest in the news follow. Continue reading “I’m Just Saying…I Bonds, Earnings, REITs, and CPG Bloodbath.”
Bed, Bath & an Abomination?
Bed, Bath & Beyond (“BBBY”) reported earnings on Thursday this past week. While they “beat consensus estimates” the stock was down around 20% on the day. More interesting to me is that retail REITs were down around 2% on the day based on the BBBY news. I am going to take a quick look at BBBY the earnings report (and conference call). Perhaps more interestingly, we will look at which of the landlords we previously examined has the most BBBY exposure. Continue reading “Bed, Bath & an Abomination?”
Retail REITs: Brookfield’s Acquisition of General Growth Properties
Since my post about retail REITs, Brookfield Asset Management (“BAM”) entered into an agreement to acquire a mall REIT, General Growth Properties (“GGP”), so I thought we should take a quick look at that comparable transaction as a touchstone for sector valuations and also because the terms looked interesting. Continue reading “Retail REITs: Brookfield’s Acquisition of General Growth Properties”
Retail REITs: Apocalypse or Opportunity?
For several months now I have been thinking about the retail landscape, more specifically, landlords who own rental properties occupied by retailers.
The challenges facing retail are well publicized and include the Amazonian “Death Star” obliterating all retailers and a number of high profile retail bankruptcies (recently, Toys R’ Us and Clare’s). I think the general consensus is that retail focused REITs are cheap, but for good reason. I may have a different view. Continue reading “Retail REITs: Apocalypse or Opportunity?”