Below are press releases from company’s with preferred stock and baby bonds outstanding–or just news of general interest. News will be slow until early October when the 3rd quarter earnings start to hit.
Chatham Lodging Trust Declares Quarterly Common, Preferred Dividend
Freddie Mac Announces $233 million Non-Performing Loan Sale
Commercial Bankruptcy Filings Increase 9 Percent over the Same Period Last Year
Enstar Announces Expiration of “Go-Shop” Period
Kimco Realty® Further Upsizes Term Loan Facility to $550 Million
Curbline Properties Publicly Files Form 10 with SEC
GNL is going to sell itself into 0 and left w a lot of debt/pfds..they were buying properties w a 7-7.5% cap rate now they are selling them. No positions and while I traded the common year ago and played the pfds for trades, there is no way I would own ever again.
I guess the Site Properties spin of Curbline is happening 10/1 here. I flipped the SITE-A pfds this year. These REITs and their ‘dealings’…I see Brad Thomas and his REIT empire (lol) has gobbled Hoya and he does their commenting now too.. I have no REIT common shares now none on my radar either.
I have to get back to deep 10Q analysis and start ignoring the distractions, I think. Get into the real weeds. When REITs had bought properties w debt and are selling them for same cap rate to clear debt or avoid having to pay thru the nose for new debt, it highlights the churning and squirming going on now in commercial r/e. Like 2009-11, the FED will probably try to rescue comm r/e w rapid rate cuts post election. Howard Marks is saying lowest is 3% once they are done. We’ll see. Bea
Bea, the better run REITs can grow and survive from cash flow or issuing common or doing mergers with an exchange of shares.
yes spinning their wheels, growing but payouts? do they keep up w inflation raises? low rates will help them for sure.