tjberko’s Activity

Thu Aug 21

NL

Boards Post

tjberko replied to the Real Estate Inv. Trusts: REITs board. 5:11 PM

Re: Annual Asset class return

Assume we think interest rates will rise in the future. What asset class should we hold now to prepare for that event?

No asset class generally does very well in a rising rate environment, although it depends on why rates are rising. [more]

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Boards Post

tjberko replied to the Real Estate Inv. Trusts: REITs board. 8:03 AM

Re: Annual Asset class return

That is interesting, CM001, but I would point out that we have been in an environment of falling interest rates which is great for REITs, which are leveraged plays on real estate, in terms of their cost of borrowing having fallen a lot and the cap [more]

Fri Aug 8

NL

Boards Post

tjberko replied to the Real Estate Inv. Trusts: REITs board. 10:45 AM

Re: KIM-pI trades @71.38!

One way that less liquid stocks can trade at surprisingly high prices is when someone is short the stock and forced to cover (buy back the shares) because their broker can no longer borrow the stock for their them. In this case, the broker may well [more]

Tue Aug 5

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Boards Post

tjberko replied to the Real Estate Inv. Trusts: REITs board. 11:43 PM

Re: NRF to Acquire Griffin-American Healthcare R

I wonder if the preferreds will trade at Health Care REIT yields? NRF's are all over 8% yield.

The other health care REITs generally have good balance sheets, so their preferreds are not trading at low yields simply because they are [more]

Tue Jul 29

NL

Boards Post

tjberko replied to the Real Estate Inv. Trusts: REITs board. 10:58 PM

Re: $40,000 commission on a trade

Yoda, I am curious. Why do you track every trade on all REIT preferreds? Do you use this information in your own buy and sell decisions? Has it proven helpful?

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Boards Post

tjberko replied to the Real Estate Inv. Trusts: REITs board. 11:18 AM

Re: Mispricings

Mike,
For my recommendations, you can check my post titled "Ominous Signs For Preferreds & What You Might Do". It is very recent.

Mon Jul 28

NL

Boards Post

tjberko posted to the Real Estate Inv. Trusts: REITs board. 2:39 PM

Mispricings

Just thought I'd add a few more examples of stocks that are mispriced relative to the same or similar stocks. If you own the following, you should consider selling or swap. This list includes the couple I mentioned in a previous post.

NRF-B [more]

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Boards Post

tjberko replied to the Real Estate Inv. Trusts: REITs board. 2:43 AM

Re: Ominous Signs For Preferreds & What You Migh

How do you explain GAB-G versus GAB-H? They appear to be nearly identical and have the same 5% coupon. But GAB-H last traded at 23.80, while GAB-G traded at 22.90. they are both callable in 2017 about one month apart.

I don't try to [more]

Sun Jul 27

NL

Boards Post

tjberko replied to the Bonds & Fixed Income Investments board. 12:33 AM

Re: buy/write IBKR if interested

No problem. I hope you will decide to buy some UBP-D. As you know, I follow all preferreds and this one has the least downside risk of any preferred out there and yet has a higher yield and a better balance sheet (credit quality) than the most [more]

NL

Boards Post

tjberko replied to the Bonds & Fixed Income Investments board. 12:05 AM

Re: buy/write IBKR if interested

I see this is callable anytime. What are the chances this could be called in the next 1 or 2 Quarters. I am just too lazy to go through all the financials and would just take your opinion. :)

UBP-D has been callable for over 4 years, [more]

Sat Jul 26

NL

Boards Post

tjberko replied to the Real Estate Inv. Trusts: REITs board. 11:34 PM

Re: Ominous Signs For Preferreds & What You Migh

Thanks, Yoda, for your thoughtful comments and for taking the time to write your response.

Yoda writes:
I am not sure I agree that preferreds are mostly correlated to high yield bonds. Traditionally preferreds have been mostly [more]

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tjberko replied to the Real Estate Inv. Trusts: REITs board. 3:08 PM

Re: Ominous Signs For Preferreds & What You Might Do

The preferred TY- should not have been included in my post on preferreds with call risk as it sells below par.

NL

Boards Post

tjberko posted to the Real Estate Inv. Trusts: REITs board. 3:02 PM

Ominous Signs For Preferreds & What You Might Do

High yield bonds are about the closest thing to preferred stocks. There have been large withdrawals from high yield bond funds of late and these junk bond funds are trading at 3 month lows. Yet preferred stocks seem to defy gravity and they are [more]

Wed Jul 9

NL

Boards Post

tjberko posted to the Real Estate Inv. Trusts: REITs board. 4:42 PM

CWH / SIR

CHICAGO, July 9, 2014 /PRNewswire/ -- CommonWealth REIT (CWH) announced today that it has sold its 22 million shares of Select Income REIT (SIR) for $31.51 per share, to Government Properties Income Trust ("GOV") and Reit Management & [more]

Tue Jul 1

NL

Boards Post

tjberko replied to the Real Estate Inv. Trusts: REITs board. 12:57 PM

Re: AMTFP

Barrons and others have questioned the accounting by this company. It is a very agressive acquisitor and has a poor balance sheet. I am staying away.

Mon Jun 30

NL

Boards Post

tjberko replied to the Bonds & Fixed Income Investments board. 11:29 PM

Re: buy/write IBKR if interested

joelcorley writes about the safety of UBP-D:
I would beg to differ. UBP is a very small REIT with a market cap of about $160M. The common has only traded 2 blocks in the past 5 days. UBP-D has only 1M shares outstanding.

Joel, you [more]

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Boards Post

tjberko replied to the Bonds & Fixed Income Investments board. 6:54 PM

Re: buy/write IBKR if interested

Can you name anything these days paying 8% that is not risky; likely even more so?

Here are some ideas for you:

A preferred like ISH-B. It has an 8.5% qualified dividend giving it an after tax equivalent yield of 10 percent [more]

Sat Jun 28

NL

Boards Post

tjberko replied to the Real Estate Inv. Trusts: REITs board. 10:18 AM

Re: MILL-D

Here's my 2 cents. When dealing with a speculative company, you are better to buy the common than the preferred if you have a positive outlook. The preferred is the worst of all worlds. If the company fails, you will probably have no more safety than [more]

Sun Jun 22

NL

Boards Post

tjberko replied to the Real Estate Inv. Trusts: REITs board. 10:50 PM

Re: SCE-F dividends: ordinary or qualified

I held SCE-F in 2013 and my brokers report the dividends as qualified. Your broker reported the dividends incorrectly.

Fri Jun 20

NL

Boards Post

tjberko replied to the Bonds & Fixed Income Investments board. 11:59 PM

Re: buy/write IBKR if interested

These covered call writing strategies seem to me to be a very risky way to earn 10%. You have little upside and the downside could be substantial. IBKR, trades at a 20 PE and traded close to 30% lower than its current price during the year. If it [more]

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Boards Stats & Trivia

One star, 50 posts
Board Posts 237
Recs Received 1367
People who have rec'd these posts 131
Recs to Posts Ratio (last 30 days) N/A
Threads Started 45
Threads Started Percentage 18.99 %
Most Frequent Board Real Estate Inv. Trusts: REITs
Very First Post Mispriced Preferred Stock -Screamingly Cheap (7/3/2013)
Percentage of Posts Rec'd 83.12 %
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