Published Thu, 04 Jul 2019 06:45:00 -0400 on Seeking Alpha
We are always on the lookout for great ideas and I'd be the first to admit, sometimes those ideas come from other people. In this case, I read an article by Trapping Value in early May asking "Iron Mountain: Why the Sell-off." It put IRM on my radar but my first thought was:
The store documents, that's a dying business and its a matter of time before they shut their doors.
But I decided to look into it myself and was pleasantly surprised. What I found was a company leveraging its strengths and transforming its business model to better reflect the growing trends in the digital era.
It's not the first time my first impression was changed. I became cautious on Apartment REITs in early 2017 but then turned bullish again in late November of 2017 due to muted homebuying trends and rental rates that continued to climb. It has been a great ride so far, and my previous article I reiterate my favorable outlook on Apartment REITs, particularly the Class B and C properties.
The point is, in investing, you have the ability to change your mind about an investment, and it just might work out well. Thanks to Trapping Value for bring IRM to my attention.
There is one category of REITs that is always hard to evaluate because it contains companies that own a variety of different property types. For example, Innovative Industrial Properties (IIPR) owns facilities where cannabis is grown. We bought this stock in January 2018 and downgraded it to Reduce on June 10th, 2019 after a... Read more
|Stock name||Last trade||P/E||Earnings/Share||Dividend/Share||Dividend yield|
|GAMING AND LEISURE PROPERTIES||38.48||24.7||1.56||2.72||7.02|
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