Market Commentary | June 20, 2025

Market Commentary | June 20, 2025 Navigating Uncertainty On June 18th, we found ourselves in good company. Central Bank Chair Jerome Powell spent much of his Wednesday afternoon news conference reviewing all the things the Fed does not yet know.  Primarily, whether...

UMH Properties’ Fundamentals Look Strong

UMH Properties’ Fundamentals Look Strong UMH Properties (UMH) offers an enticing combination of value and growth.  Specifically, it has a greater than 5-year runway of double-digit organic growth, yet it trades at a steep discount to net asset value (NAV).  This...

Market Commentary | April 22, 2025

Navigating the Storm

As a fundamental starting point, we try to identify sectors producing earnings growth. The next step is to discern which companies and issues within that sector present a price point of entry that optimizes returns; are the company’s earnings growing as fast, and are the shares cheaper than those of peers?

Market Commentary | March 25, 2025

Peak Uncertainty

We always adhere to the discipline that “if the market is open, we’re here”. The objective is to spot opportunity when it appears. Since the Fed started raising interest rates in March of 2022, however, opportunity sightings seem to have grown scarce and fleeting in our universe of real estate value and growth.

Market Commentary | February 24, 2025

Market Commentary | February 24, 2025 Selling the News Reading the February 2025 edition of The State of REITs, I was surprised to learn that Shopping Center REITs were the second worst-performing sector in January (down 6.46%). For almost three years now, we’ve been...