Affo Trading

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An Introduction To Spain's Number 1 REIT: Merlin Properties

Seeking Alpha 20 Jul 2018

While most investors know us from our investments in high-growth tech names such as Nvidia (NVDA), The Trade Desk (TTD), and PayPal (PYPL), we believe Merlin Properties may warrant an exception to our typical 15%+ annual return hurdle for equity investments ... At €12/share, the common stock is trading at an 11% discount to NAV and a 4.8% AFFO yield (or 20.8x forward AFFO)....

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It's Easy To Be Patient With This 8% Dividend

Seeking Alpha 18 Jul 2018

Net income attributable to common stockholders was lowered to $1.98-2.06 from $2.16-2.24, normalized FFO to $2.47-2.55 from $2.48-2.56, and normalized AFFO to $2.27-2.35 from $2.28-2.36 ... Sabra currently trades at a P/AFFO of 9.4, which is slightly below its average and is a result of the stock's decline from $34.44 in 2015 to about $21.70 today....

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Vereit: Don't Sell Just Yet

Seeking Alpha 17 Jul 2018

The real estate investment trust is still relatively cheap - on both a run-rate AFFO and book value basis, and the dividend has a high degree of safety thanks to the REIT's solid portfolio stats and moderate AFFO payout ratio ... Since shares currently change hands for $7.53, the guidance implies a 2018e AFFO-multiple of ~10.6x ... VEREIT can - and should - trade at a higher AFFO-multiple....

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Disciplined Investing For The Long Run

Seeking Alpha 12 Jul 2018

Thesis ... Background ... Why Now? ... Through a simple relative valuation, I anticipate Tanger’s valuation to correct within the range of 11x and 13x forward AFFO. For context, Tanger currently trades at about 9.5x trailing AFFO. Shares traded north of 16x in 2016 and bottomed out around 8x following the recent events ... Risks ... This article covers one or more stocks trading at less than $1 per share and/or with less than a $100 million market cap ... ....

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This Office REIT Has The Right Idea But It's Not Ready For Prime Time

Seeking Alpha 12 Jul 2018

Cousins Properties normally trades at a P/AFFO multiple of 24x according to data provided by Factset and shown on fastgraphs.com. At a current P/AFFO of 23.4, there isn't much room for the stock to grow into its long-term average. Unfortunately, analysts aren't forecasting very robust AFFO growth in 2019 or 2020 either. At just 9% and 4%, respectively, it seems the analyst consensus is a bit of a slowdown from 2018's 18% AFFO growth....

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Farmland Partners: Increasing Pressure

Seeking Alpha 06 Jul 2018

Back then, FPI was trading in the $11 range and had not merged with AFCO ... I traded both the long and the short sides, taking advantage of the volatility and recognizing that while I am pessimistic about the long-term prospects, the road down is rarely straight ... Recent trading action has clearly been influenced by rising interest rates, which sent most REITs spiraling downward early in the year....

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Does First Capital Realty Deserve A Premium Valuation?

Seeking Alpha 03 Jul 2018

Hence, we believe First Capital Realty is a good investment choice for investors seeking a combination of dividend income and capital appreciation even though it is trading at a premium valuation to its peers ... First Capital Realty is currently trading at a premium valuation to its industry peers ... P/AFFO ... Created by author; TD Securities Why we believe First Capital Realty should trade at a premium....

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Is This 10.5% Yielder Still The Deal Of The Year?

Seeking Alpha 29 Jun 2018

We first introduced readers to the stock back in early 2016 when the shares were trading below $18 ... The company is a high risk REIT that we liken to a junk bond trading below par (giving us capital gains upside) ... AFFO per share was $0.62, which compares to the quarterly dividend of $0.60 ... Maintenance capex is 2.2% of revenues or $1.5 million compared to total AFFO of $67.6 million....

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Once A Month, Realty Income Buys Me Lunch

Seeking Alpha 28 Jun 2018

Ticker Market Cap P/AFFO Dividend Yield ... For this reason we use a metric known as AFFO or adjust funds from operations. As we can see O trades at a slight premium to its closest peers, and much higher than Vereit (VER) and Spirit Realty Capital (NYSE.SRC) ... While Realty Income trades at a higher P/AFFO then Store Capital (STOR) or National Retail Properties (NNN), it also has a higher yield....

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Canadian Apartment REIT: Will Growth Momentum Continue?

Seeking Alpha 28 Jun 2018

The company is trading at a premium to its peers due to its excellent track record of growth and its high quality portfolio of properties ... Given the possibility of a trade war between Canada and the U.S ... Hence, we believe it is trading at a premium ... While it is trading at a premium to its peers based on P/AFFO ratio, its portfolio of properties are mainly located in major urban centers where the assets typically have higher value....

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W.P. Carey Puts Rubber Stamp On Dividend Record

Seeking Alpha 19 Jun 2018

The $5 billion portfolio (CPA.17) was established in 2007, and it is nearing its life-cycle as a non-traded REIT ... As noted above, a higher-multiple Real Estate segment is expected to generate approximately 96% of total pro forma AFFO (up from 83% currently), and this should put the company on a better track to trade in line with the stalwart peers, Realty Income (NYSE.O) and National Retail Properties (NYSE.NNN)....

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Northview Apartment REIT: Will Its Growth Momentum Continue In 2018?

Seeking Alpha 18 Jun 2018

Investment Thesis. Northview Apartment REIT (OTC.NPRUF, TSX.NVU.UN) operates and owns a portfolio of residential properties across Canada ... (Source ... The REIT is currently trading at a price-to-2017 AFFO of 14.4x (see chart below) ... For example, Killam Apartment REIT and Canadian Apartment REIT are trading at price-to-AFFO ratios of 17.4x and 22.7x respectively ... This article discusses one or more securities that do not trade on a major U.S ... ....

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STORE Capital Corp.: The Warren Buffett REIT

Seeking Alpha 16 Jun 2018

Warren Buffett, or at least the company he controls, Berkshire Hathaway (NYSE.BRK.A) (NYSE.BRK.B), is a shareholder in a publicly-traded REIT ... AFFO, according to management, has increased nearly 400% from $61.74 million in 2013 to $306.08 million in 2017 ... As a high-quality enterprise, STORE is trading at no discount to fair value (or only a modest one perhaps)....

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