Week Ended 8/30/19

G&A is a big drain on REITs Most expenses that appear on the income statement have some sort of return associated with them. Interest expense is related to debt which was used to buy income generating properties Capex, is used to maintain buildings that produce...

Week Ended 8/23/19

The market is upset again about trade as another round of tariffs was issued by China on U.S. goods.  I don’t see this as all that impactful even for the goods targeted by the tariffs.  China already had a 25% tariff on soybeans and corn, which already made their...

Week Ended 8/16/19

If we are truly in a Fed easing cycle as much of the world seems to think, SL Green is one of the biggest beneficiaries due to the private market cap rate of its assets and the discount at which it trades. As of today, the consensus NAV for SLG is $122.88 and SLG is...

Week Ended 8/9/19

Trade war impact on 2CHYP As I am sure you are already aware, the trade war with China escalated significantly this week as China’s currency was allowed to devalue relative to the dollar, crossing the psychologically important 7 to 1 threshold.  Additionally, there...

Week Ended 8/2/19

Macroeconomic patterns We uploaded earnings updates on all 8 of the 2CHYP REITs that have reported so far.  Please check them out in the portfolio analytics section of the website to see our take on each report. In this update, I want to discuss the patterns that are...