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6 Great Buys With Yields Up To 11.5% To Start 2019

Published Fri, 11 Jan 2019 07:00:00 -0500 on Seeking Alpha

This research report was produced by The REIT Forum with assistance from Big Dog Investments.
We have quite a few things to cover today including mall REITs, mortgage REITs and preferred shares.

Because we have so many things to cover today, here is a photo of the investments we will be covering in order:

Washington Prime Group We’ve had some comments on Washington Prime Group (WPG) lately and wanted to explain a couple things.
Our buy and sell ratings
Our current outlook
Shares tanked recently, but we didn't have a buy rating at that point.
Here's an image showing the actual returns for WPG by time period:

Source
It delivered 12.9% during our buy rating (from 4/10/2017 to 7/27/2017).
Since the buy rating ended, it delivered negative 32.9%.
We also had a note on 5/4/2018 telling investors we felt the price was primed to fall:

The lopsided rally has left the risk/reward very heavily skewed. When I first covered Washington Prime Group, the fundamentals were materially stronger than they are today. The difference was primarily the fair value of the physical real estate assets the mall REIT owns. As sales and net operating income have struggled at lower quality malls, the value of the real estate assets decreased significantly. The result is much weaker balance sheets since lower real estate values make it more difficult to finance portfolio.
Meanwhile, we also saw a significant increase in... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
WP GLIMCHER 5.25   13.5 0.39 1.00 18.73
ORCHID ISLAND CAPITAL 6.19   0.0 -0.46 0.96 15.81
TWO HARBORS INVESTMENT 13.95   4.2 3.29 1.88 13.51
PENNSYLVANIA REAL ESTATE INVESTMENT TRUST 6.70   0.0 -0.82 0.84 12.21
AMERICAN CAPITAL AGENCY 17.95   5.7 3.17 2.16 12.07
TANGER FACTORY OUTLET CENTERS 21.81   38.3 0.57 1.40 6.36
TAUBMAN CENTERS 50.39   43.8 1.15 2.62 5.23
SIMON PROPERTY GROUP 171.23   23.1 7.41 8.00 4.64
CAPSTEAD MORTGAGE 7.21   15.0 0.48 0.32 4.44

WP GLIMCHER - WPG
WP GLIMCHER - WPG  


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