Affo Trading

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Elliott Management Recommends Changes at Crown Castle

The Saratogian 06 Jul 2020

Today, Crown Castle trades at an average AFFO multiple discount of 15% to American Tower and SBA. By contrast, before the major investments in fiber, Crown Castle traded at an average discount of only 3% five years ago ... Crown Castle has deeply underperformed through the lens of adjusted funds from operations (AFFO)....

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Data-Center Stocks Could Be Winners as Internet Use Surges

Barrons 01 Apr 2020

Equinix should generate 7% growth in adjusted funds from operations, or AFFO, in 2020, one of the healthier growth rates in the industry, he writes ... Equinix stock has never been cheap due to its competitive advantages and it isn’t inexpensive now, trading at 26 times AFFO, above the industry average of 20 times ... Shares recently traded around $625....

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Taubman Centers, Inc. (TCO) CEO Robert Taubman on Q2 2019 Results - Earnings Call Transcript

Seeking Alpha 26 Jul 2019

Adjusting for these two items, AFFO per share was $0.94, up $0.07 compared to last year. Our year-over-year AFFO variances include the following ... Finally lease on average are trading at a premium to NAV today and have an AFFO multiple about 21 times which is nearly double our current multiple which is at about 11 times....

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Cominar REIT Is Heading On The Right Path, But There Is Still A Long Way ...

Seeking Alpha 24 Jul 2019

We expect Cominar to generate AFFO of C$0.90 per share in 2019. Therefore, it is trading at a price to 2019 AFFO ratio of 14.0x. This is slightly below H&R REIT's (OTCPK.HRUFF) P/AFFO ratio of 14.4x ... Therefore, H&R has a better growth profile than Cominar and deserve to trade at a higher valuation to Cominar....

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American Finance Trust: A Contrarian Play Returned 18%, We're Now Moving To The 7.5% Preferred

Seeking Alpha 24 Jul 2019

At the beginning of Q1 2019, AFIN completed the phased listing of its common stock and the REIT has now approximately 106 million shares trading in the stock market ... Aside from that, the stock is trading at a premium P/AFFO multiple of 21, well above its historical average....

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Weingarten Realty Investors' 6%-Yielding Dividend Is Attractive, Company Has An E-Commerce Resistant Portfolio

Seeking Alpha 23 Jul 2019

Weingarten Realty Investors (WRI) delivered a solid quarter with positive same property net operating income growth. The company has a portfolio of properties located in markets with favorable demographic trends ... Q1 2019 Financial Highlights ... Using the midpoint of its guidance, Weingarten is trading at a price to estimated 2019 AFFO ratio of 12.6x ... ....

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Uniti: Asymmetric Risk-Reward For The 'Aggressive Landlord'

Seeking Alpha 22 Jul 2019

Given how large UNIT’s term loan is, this is the primary driving force behind its steep AFFO decline this year ... Despite UNIT’s expected decline in AFFO/share this year to $2.26 (assuming the master lease is upheld), UNIT still trades at a mere 4x AFFO, which equates to a 25% free cash flow yield....

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CBL Preferreds' Eye-Popping 20+% Yields Are Worth The Risk

Seeking Alpha 18 Jul 2019

As I am generally a risk-adverse value investor I tend to look for REITs trading at discounts to NAV or book value with FFO/AFFO coverage of their dividend and payouts in the 4-8% range ... Over the past 3 years the preferreds have gone from trading at a slight premium to trading at a very deep discount-55% and nearly 70% respectively....

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Whitestone REIT: Dividend Sustainability Is Still An Issue

Seeking Alpha 15 Jul 2019

However, its AFFO declined to $0.28 per share in Q1 2019 from $0.31 per share in Q1 2018 ... Whitestone expects to generate AFFO of $1.06 ~ $1.10 per share in 2019. Using the midpoint of its guidance, Whitestone is trading at a price to estimated 2019 AFFO ratio of 11.8x ... For example, One Liberty Properties (OLP) trades at a P/AFFO ratio of 13.5x....

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Landmark Infrastructure: Flexing Its 5G Potential To Cover The Dividend

Seeking Alpha 13 Jul 2019

Notably, the cell tower players like Crown Castle (CCI) and American Tower (AMT) are now trading at a 20% premium to fair value ... LMRK is trading at approximately 11x Price to forward AFFO vs ... AFFO per unit in Q1-19 was $0.32 compared to $0.33 in Q1-18 ... We have modeled the 2019 AFFO per share growth as follows.....

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Vereit: $10 Is Finally In Sight

Seeking Alpha 12 Jul 2019

The REIT's shares remain undervalued, in my opinion, and have a real shot of trading up to at least $10 ... In fact, there would be nothing wrong with VEREIT trading for ~15x AFFO, considering that its more established (but also more conservative) REIT peers demand AFFO multiples of 20x and higher....

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One Liberty Properties: This Diversified REIT Is Trading At An Attractive Valuation

Seeking Alpha 12 Jul 2019

The company currently pays a 6.2%-yielding dividend and is trading at an attractive valuation ... We estimate One Liberty Properties to generate AFFO of $2.15 per share in 2019. Using our estimate, its price to 2019 AFFO ratio is about 13.5x. This is significantly below industrial REITs that trades above 20x....

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W.P. Carey: A Strong Net Lease REIT That Isn't Priced Right

Seeking Alpha 08 Jul 2019

(Note, CPA.17 was a non-traded REIT that WPC advised ... First-quarter AFFO increased by 45.8% from $114.9M in 1Q18 to $201.8M in 1Q19 ... As a result of this strong performance, its valuation metrics are elevated with a P/AFFO of around 17x compared to its long-term average of around 12x....