Well, it is that time of year for holidays. For some of us it is a time of memories of years gone by and family members who are no longer with us. For others it may be a time when families gather together and share small talk, gifts and a hearty meal. Maybe it is both a time for past memories and a celebration when gathering with others.
We no longer have any parents alive so we get to do the hosting of our 5 kids and spouses and 9 grandchildren (from ages 3 months to 21 years old). The adults no longer buy boat loads of gifts for each other–instead opting for a modest gift exchange determined by rolling dice. Of course the grandchildren get more gifts than one should ever expect, but regardless of my ‘old time’ values I can’t begrudge the overindulgence of money spent on grandchildren. I do ‘mourn’ those that have adversity in their lives right now–to those folks I hope they can find some solice and peace in this important season.
To all I wish you a Happy and joyous holiday as we all look ahead to the start of a new year.
Merry Christmas !! & Wonderful Holiday Cheers from Asheville
Tim:
I almost never post here, but I do follow your site closely. I apologize for this rather long post. I really appreciate you, this site, and other folks who post here. I have gotten many good ideas here. I do have one question for you and other folks here. Why is there not more discussion of REIT preferreds, especially equity REIT’s. I did notice you have a link called REIT chat. Unfortunately it is fairly inactive.
I am totally uninterested in mortgage REIT’s. A long, long time ago (around 2008) I owned some Thornburg mortgage preferreds. I bought both the A and B shares at around par and lost about half of each. I was fortunate to sell when I did, as shortly thereafter they became worthless. Thornburg went bankrupt.
At this time I am also not interested in office, mall or hotel REIT’s as well. In your laundry list appear 2 equity REIT’s, RLJ-A and UMH-D. The former is a hotel REIT and I have owned the latter for quite some time. I remember when the founder of UMH (Mr. Landry) used to post occasionally on the old Motley Fool REIT board.
I own a number of others myself. There are four of them I like a lot. They are DLR-K (data storage), NSA-A (self storage), REGCO (shopping centers and REXR-B (industrial). I also own three I am not that happy with. They are BFS-E (shopping centers), EPR-G (entertainment properties) and LANDO (farm land). I will continue to hold all seven including the last three, as long as they don’t deteriorate.
I really favor REIT preferreds, but thanks to your site, I have branched out into other areas such as asset managers, utilities, etc. I generally seek yields of at least 6%. I am hoping this post might generate some discussion of REIT preferreds. My thanks to everyone here.
Norm, it has been discussed previously on this site, but you might not have caught it. If you like NSA-A, take a look at NSA-B. It is substantially less liquid but otherwise has similar terms and trades for 4-5% less.
https://www.sec.gov/Archives/edgar/data/1618563/000162828024017387/april2024-424b7prospectuss.htm
Disclosure: I have never held either, though I have considered buying NSA-B.
I comment about REIT preferreds all the time they are my bread and butter, but mostly mortgage REITs. They’ve actually had a low default rate but that could change at any time. None that you mentioned other than LANDO, not my favorite but flipping it with LANDP makes it worthwhile.
Yesterday was too busy and my wife pushed me out the door to finish shopping. Today she is pushing me to hit the road to go to our daughter’s home.
I want to take the time now to thank Tim for this great site and all the people I have met here.
I hope everyone enjoys the holidays and takes the time to be with friends and family. Stay safe if you are traveling.
Cheers!
Tim, have a great Christmas and a joyous holiday season with your family. Thank you for all you do here. I appreciate all the valuable information.
HAPPY HOLIDAYS ! For all- have a safe one– and a healthy, happy, prosperous and safe 2025.
TIM– Thanks again for this wonderful site.
Happy Holidays to all of you. Been a pretty good year for me and my family. I try to remember to be thankful and kind every day but am not always successful. I appreciate all of you also being kind to each other even when we don’t always agree on various topics including politics. That’s why I pretty much read this every day and still get great ideas from you all for investing or learning new things. Thanks!
Wishing all a happy, blessed and safe Merry Christmas and Happy Hanukkah to everyone and your families. We all have so much to be thankful for at this time. May G-d bless each of you, Azure
BTW, in the spirit of forgiveness this would be a perfect time for Grid to come back as I’m certain we all miss him
Merry Christmas and Happy holidays to everyone—and cheers for a prosperous and healthy 2025 as well
Merry Christmas and all the best for 2025
Merry Christmas, community! Tim – thank you, sir.
I too would like to thank Tim for all his efforts to maintain this site and wish each and every one of you and yours a happy, safe and productive new year. SC
Couldn’t have said it better.
Hoping for a joyous time with the family.
Merry Christmas to all !! I wish you a happy, healthy, prosperous and
peaceful 2025
Thanks Tim for another great year with this site. I read it everyday early in the morning. I’ve been around for several years even going back to your previous sites. I just don’t say much. Merry Christmas to everyone. I took miss Grid