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The Stunning Story Of Retail eREITs And Why Total Return Matters Even For Dividend Growth Investors - Part II

Published Mon, 22 Jul 2019 19:54:48 -0400 on Seeking Alpha

It's been a while since I wrote about Brick-and-Mortar Retail eREITs ("B&MRR" hereinafter).
Recall that three years ago, I've turned bearish on most types of eREITs (VNQ, SCHH, IYR, XLRE, RWR, ICF). Since then, we've bought more than a few eREITs (especially following the early 2018 correction), but if there's one sub-segment that we remain bearish on, in spite of dipping our toes every now and then (even here), it's retail eREITs, malls and shopping centers specifically.
In this article, we're neither going to discuss (again) the unfair battle between B&MRR to online retailers, nor are we going to try and answer (again) the question many investors are still asking: "Is Brick-And-Mortar Retail Dead?"
Instead, we will go back to an article that we wrote almost two years ago, titled "The Stunning Story Of Retail eREITs And Why Total Return Matters Even For Dividend Growth Investors", and take another look - now spanning over three years - in an attempt to challenge, or re-emphasize, previous messages.
In order to check our thesis and come up with new/old conclusions, we've assembled a group of 24 pure retail-oriented eREITs. Many other names have been left out, either because they are only partially active within the retail space (mostly triple-net lease names), and/or due to suffering from other "flaws" (size, tenor as a public company, too unique/hybrid/niche, etc.), e.g.:
Company Name Symbol Consolidated-Tomoka Land Co. CTO Four Corners Property Trust, Inc... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
WHEELER REIT 1.35   0.0 0.00 1.36 95.17
CBL & ASSOCIATES PROPERTIES 1.38   0.0 -0.95 0.35 27.34
WP GLIMCHER 4.18   24.6 0.17 1.00 24.10
PENNSYLVANIA REAL ESTATE INVESTMENT TRUST 5.68   0.0 -1.81 0.84 14.58
MACERICH 33.33   43.9 0.76 3.00 8.91
WHITESTONE REIT 13.84   25.2 0.55 1.14 8.62
TANGER FACTORY OUTLET CENTERS 16.50   21.4 0.77 1.42 8.35
KITE REALTY GROUP TRUST 15.92   0.0 -0.27 1.27 8.07
CEDAR SHOPPING CENTERS 2.87   31.9 0.09 0.20 7.30
RAMCO-GERSHENSON PROPERTIES TRUST 13.49   89.9 0.15 0.88 6.66
ONE LIBERTY PROPERTIES 27.98   31.1 0.90 1.80 6.61
TAUBMAN CENTERS 43.64   59.0 0.74 2.70 6.16
VEREIT 9.77   40.7 0.24 0.55 5.86
EPR PROPERTIES 77.15   22.8 3.38 4.50 5.84
BRIXMOR PROPERTY GROUP 19.68   16.5 1.19 1.12 5.68
WEINGARTEN REALTY INV 28.14   15.3 1.84 1.58 5.62
KIMCO REALTY 20.39   25.5 0.80 1.12 5.57
RETAIL PROPERTIES OF AMERICA 12.00   36.4 0.33 0.66 5.48
SIMON PROPERTY GROUP 155.27   20.8 7.48 8.40 5.21
URSTADT BIDDLE PROPERTIES 24.28   37.9 0.64 1.10 4.70
GETTY REALTY 32.62   27.6 1.18 1.40 4.40
RETAIL OPPORTUNITY INVESTMENTS 18.42   46.0 0.40 0.79 4.25
LEXINGTON REALTY TRUST 10.09   8.4 1.20 0.41 4.10
SAUL CENTERS 53.58   30.3 1.77 2.12 4.08
ACADIA REALTY TRUST 29.00   63.0 0.46 1.12 3.88
NATIONAL RETAIL PROPERTIES 54.39   35.8 1.52 2.06 3.81
REALTY INCOME 74.49   56.9 1.31 2.72 3.69
REGENCY CENTERS 69.07   40.2 1.72 2.34 3.43
AGREE REALTY 72.00   40.4 1.78 2.28 3.20
FEDERAL REALTY INVESTMENT TRUST 135.76   40.4 3.36 4.20 3.00
SPDR DOW JONES INDUSTRIAL AVERAGE ETF TRUST 272.32   0.0 0.00 5.67 2.10
SPDR S&P 500 ETF 301.29   0.0 0.00 5.42 1.82
POWERSHARES QQQ TRUST SERIES 1 193.23   0.0 0.00 1.49 0.78
CONSOLIDATED-TOMOKA LAND 67.79   0.0 0.00 0.44 0.67
AMAZON.COM 1843.55   76.5 24.10 0.00 0.00
ISHARES COHEN & STEERS REALTY MAJORS INDEX FUND 118.41   0.0 0.00 0.00 0.00

WHEELER REIT - WHLR
WHEELER REIT - WHLR  


Older articles featuring Wheeler Reit (WHLR):
How To Retire Today: Dividends
Buy Good Dividend Stocks, Not Failures
Southeastern Grocers' Financial Distress Will Overwhelm Wheeler; KeyBank Extension Delays Inevitable Dividend Cut
How To Retire Without Sucker Yields
14 'Safer' U.S. Dividend MoPay Stocks Envy Capitala Bright December Gains
18 'Safer' U.S. Dividend MoPay Dogs Lag Capitala November Gains Spurred By Dividend Cut
35 'Safer' Dividend MoPay S-M-L Dogs Gasp At High Arctic Energy Gushing October Gains
Forget This Mall REIT, Buy These Other Great Dividend Growth Stocks
15 'Safer' Dividend MoPay Dogs Hunt Capitala's October Gains
Energy Dog Leads 39 'Safer' Dividend SML MoPay Gain Forecast But REITs Dominate September By Number

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