No reason volatility

REIT prices have been moving around aimlessly on a paucity of fundamentally impactful news.  Of particular note is the volatility in UMH Properties (UMH).

 Stock chart from SNL Financial

As it surged up to nearly $15.00, we sold UMH in an attempt to capture the gains from the violent upswing.  We suspect volatility of this kind will continue and we will have an opportunity to redeploy those proceeds in the near future.  A similar crash and subsequent partial recovery happened in CBL, but we did not feel comfortable buying more as our concentration is already high in that name.

I would like to once again emphasize the importance of remaining calm in this environment and focusing on the relative stability of underlying fundamentals.

Commentary may contain forward looking statements which are by definition uncertain.  We retain no obligation to update or correct forward looking statements should the available information change.  Actual results may differ materially from our forecasts or estimations.

2CHYP Portfolio Snap Shot

3/23/17 2CHYP Performance since inception

2CHYP Weekly Trade Confirmation Report