@PrivateEyeCap Avatar @PrivateEyeCap Private Eye Capital

Private Eye Capital posts on X about $cpt, $udr, $eqr, $maa the most. They currently have [------] followers and [---] posts still getting attention that total [-----] engagements in the last [--] hours.

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Social Influence

Social category influence stocks 67.62% finance 30.48% cryptocurrencies 27.62% financial services 14.29% technology brands 3.81% currencies 1.9% countries 1.43%

Social topic influence $cpt #7, $udr 20%, $eqr 19.52%, $maa 18.57%, $ess 17.14%, $avb 17.14%, $bx 15.71%, $vnq 13.81%, reit 10.48%, in the 9.52%

Top accounts mentioned or mentioned by @mrneutralman @rhunterh @askjussi @headwaterscap @newmark @grandtokamak @btfdcapitalllc @recoverytrade @jayparsons @realassetsvalue @philbak1 @jonsecon @sinstockpapi @theweezguy @aggiecapitalist @zarathustracap @bradleyjohnson2 @nassaupoint @larrybukowski @thepupil11

Top assets mentioned Camden Property Trust (CPT) UDR, Inc. (UDR) Equity Residential (EQR) Mid-America Apartment Communities Inc (MAA) Earth [--] Essence (ESS) Autonomous Virtual Beings (AVB) Blackstone, Inc. (BX) Apartment Income REIT Corp. (AIRC) Invitation Homes, Inc. (INVH) American Homes [--] Rent (AMH) Independence Realty Trust Inc. (IRT) Apollo Global Management, Inc. (APO) Ethlas (ELS) Public Storage (PSA) Driven Brands Holdings Inc. (DRVN) Sui (SUI) Kilroy Realty Corp. (KRC) American Tower Corp (AMT) Alexandria Real Estate Equities Inc (ARE) BRT Apartments Corp (BRT) BRIXMOR PROPERTY GROUP INC. (BRX) Salesforce Inc (CRM) Kimco Realty Corp (KIM) SITE Centers Corp. Common Shares (SITC) Bridge Oracle (BRG) VICI Properties, Inc. (VICI) Workday Inc (WDAY) Basis Cash (BAC) Extra Space Storage, Inc. (EXR) FrontView REIT, Inc. (FVR) National Retail Properties, Inc. (NNN) Kite Realty Group Trust (KRG) Regency Centers Corp (REG) Walker & Dunlop, Inc. (WD) Federal Realty Investment Trust (FRT) Apartment Investment and Management Company (AIV) Boston Properties, Inc. (BXP) CBRE Group Inc (CBRE) Jones Lang LaSalle, Inc. (JLL) Venice Token (VVV) Microsoft Corp. (MSFT) Spectrum Brands Holdings, Inc. (SPB) CarMax, Inc (KMX) Starbucks Corporation (SBUX) Somnium Space CUBEs (CUBE) National Storage Affiliates Trust (NSA) KKR & Co, Inc. (KKR) Piper Sandler Companies (PIPR) AudioCoin (ADC) WP Carey, Inc. (WPC) Altria Group Inc (MO) Clipper Realty Inc. Common Stock (CLPR) SVB Financial Group (SIVBQ) Freicoin (FRC)

Top Social Posts

Top posts by engagements in the last [--] hours

"$Z $ZG -even if #AI allows for the rapid development of an identical platform/integration I don't see how it builds a leading consumer brand. See $CSGP's https://seekingalpha.com/article/4870096-zillow-ai-isnt-a-credible-threat-so-im-buying-the-plunge http://Homes.com https://seekingalpha.com/article/4870096-zillow-ai-isnt-a-credible-threat-so-im-buying-the-plunge http://Homes.com"
X Link 2026-02-13T17:18Z [----] followers, [----] engagements

"4Q19 Invitation Homes traded for $300-314k/home; essentially in-line w/ median US home price 4Q25 (today) $INVH trades for $298k/home v. median US home price $400k+ #SFR #REITs $AMH"
X Link 2025-10-07T20:55Z [----] followers, 10.9K engagements

"Tho SFR is not included in the FL zero property tax proposal if passed SFH would be worth more in hands of users so could see $INVH $AMH sell some FL homes (presumably @ favorable prices)& redeploy into other markets (&buybacks-INVH has $500m auth) https://www.realtor.com/news/trends/florida-property-taxes-eliminate-home-values-desantis/ https://www.realtor.com/news/trends/florida-property-taxes-eliminate-home-values-desantis/"
X Link 2025-12-04T23:00Z [----] followers, [---] engagements

"$AMH $AVB $CPT $CSR $EQR $ESS $IRT $INVH $MAA $UDR $NXRT $BX $CBRE $JLL $BRT #REITs #Dividends https://www.privateeyecapital.com/why-im-ballz-deep-large-cap-us-residential-reits-in-500-words/ https://www.privateeyecapital.com/why-im-ballz-deep-large-cap-us-residential-reits-in-500-words/"
X Link 2025-12-06T19:12Z [----] followers, [---] engagements

"Cap rates shown below are as of 3/31/25. $INVH now 6.5% (26e) and $284k/house $AMH 6.3% (26e) and $281k/house"
X Link 2025-12-13T01:39Z [----] followers, [---] engagements

"https://www.youtube.com/watchv=yLrF5j7up9Q&list=RDyLrF5j7up9Q&start_radio=1 https://www.youtube.com/watchv=yLrF5j7up9Q&list=RDyLrF5j7up9Q&start_radio=1"
X Link 2026-02-05T21:27Z [----] followers, [----] engagements

"When CA portfolio is divested will be interesting to see % of proceeds used for buybacks vs. debt paydown vs. acqs/dev. At $106/sh I'd love to see them lean into the buyback"
X Link 2026-02-05T21:32Z [----] followers, [---] engagements

"https://www.youtube.com/watchv=FDePd-mHOL4&list=RDFDePd-mHOL4&start_radio=1 https://www.youtube.com/watchv=FDePd-mHOL4&list=RDFDePd-mHOL4&start_radio=1"
X Link 2026-02-13T17:18Z [----] followers, [---] engagements

"I don't think the private listing network threat from $COMP $ANY as being too credible.Unlikely to be in best interest of sellers/buyers. Push back from states/MLS and $Z ban. Also ANY was super de-centralized-I don't see franchised agent groups taking directives from $COMP mgmt"
X Link 2026-02-13T17:25Z [----] followers, [---] engagements

"https://www.youtube.com/watchv=skpjCBCdfgw https://www.youtube.com/watchv=skpjCBCdfgw"
X Link 2026-02-13T17:26Z [----] followers, [---] engagements

"$CSGP got little traction vs. $Z despite huge ad spend. I don't see why any new AI competitor will fare any better. http://Homes.com http://Homes.com"
X Link 2026-02-13T17:32Z [----] followers, [---] engagements

"$CPT really buying back shares. 1.8% during 4Q25 & another 1% thus far in 1Q26. Might Camden $CPT be the symbol (selling assets at [--] caps & buying back a meaningful chunk of stock at 6.5+) #REITtown needs Probably not.but maybe https://t.co/zSvKxGbTZ3 Might Camden $CPT be the symbol (selling assets at [--] caps & buying back a meaningful chunk of stock at 6.5+) #REITtown needs Probably not.but maybe https://t.co/zSvKxGbTZ3"
X Link 2026-02-05T21:24Z [----] followers, 10.6K engagements

"Anyone follow Shurgard $SHUR $SHUR.BB Looks to trade @ [--] cap. Strong SS NOI growth over the past decade + Accretive development. Much lower per capita selfstorage in Europe vs. US. W/ $PSA trading in the low 5s I wonder if they are interested in buying the 65% they don't own"
X Link 2026-02-13T21:56Z [----] followers, [----] engagements

"https://www.youtube.com/watchv=dZOvSRNXL0c&list=RDdZOvSRNXL0c&start_radio=1 https://www.youtube.com/watchv=dZOvSRNXL0c&list=RDdZOvSRNXL0c&start_radio=1"
X Link 2026-02-13T21:58Z [----] followers, [---] engagements

"I also think Zillow has done a good job of positioning Showcase as a premium exclusive feature that agents can use to solicit potential sellers. While iBuying was a fiasco this is a smart way to generate revenue from sellers agents https://www.youtube.com/watchv=Vl_QEFQ6EYc https://www.youtube.com/watchv=Vl_QEFQ6EYc"
X Link 2026-02-13T22:43Z [----] followers, [---] engagements

"https://www.youtube.com/watchv=wk1KgEB6Nuw https://www.youtube.com/watchv=wk1KgEB6Nuw"
X Link 2026-02-13T22:47Z [----] followers, [---] engagements

"Busy day in publicly traded #CRE proposed M&A $KW $WSR $SNDA"
X Link 2025-11-05T02:03Z [----] followers, [----] engagements

"$VVV comments @ GS conference. Quick lube (Valvoline/Take5/JiffyLube) taking share from other auto service providers. Lots of room to run. $DRVN"
X Link 2025-11-08T12:41Z [----] followers, [---] engagements

"@Headwaters_Cap recent commentary on $DRVN $VVV $BYD.CA https://headwaterscapmgmt.com/wp-content/uploads/2025/10/HCM-Q3-25-Investor-Letter.pdf https://headwaterscapmgmt.com/wp-content/uploads/2025/10/HCM-Q3-25-Investor-Letter.pdf"
X Link 2025-11-13T11:32Z [----] followers, [---] engagements

"https://www.youtube.com/watchv=Hk1nxO6onDE&list=RDHk1nxO6onDE&start_radio=1 https://www.youtube.com/watchv=Hk1nxO6onDE&list=RDHk1nxO6onDE&start_radio=1"
X Link 2025-12-13T01:39Z [----] followers, [---] engagements

"Unlevered IRR estimates for some #REITs $CPT $MAA $UDR $ELS $INVH $CURB $BRX $VICI $FCPT"
X Link 2025-12-13T01:50Z [----] followers, [----] engagements

"Bought $WDAY. DD grower @ 12.5x cal 2027e FCF. Mass corporate AI adoption is inevitable and $CRM & $WDAY will be essential in the planning&preparation/implementation/operation of these new tools. https://www.sgadvisers.com/assets/files/69/how-19th-and-20th-century-classics-inform-21st-century-tech-investing.pdf https://www.sgadvisers.com/assets/files/69/how-19th-and-20th-century-classics-inform-21st-century-tech-investing.pdf"
X Link 2026-01-16T16:25Z [----] followers, [----] engagements

"Some more thoughts on last week's #SAAS massacre & why I'm buying Salesforce $CRM & Workday $WDAY. I also discuss why this might be ugly for next couple years $MSFT $ORCL https://www.privateeyecapital.com/why-im-buying-the-software-massacre/ https://www.privateeyecapital.com/why-im-buying-the-software-massacre/"
X Link 2026-01-17T15:51Z [----] followers, [----] engagements

"@askjussi Would $PSA be willing to sell to PE Given the big discount @ which SHUR trades it seems like it makes more sense for PSA to issue it's own shares here to buyout SHUR"
X Link 2026-02-14T13:37Z [----] followers, [--] engagements

"@TheWeezGuy right so we need to back out prop mgmt exp. but i don't want to back out the whole mgmt exp b/c it incls expenses for the 3rd party mgmt biz. so i use [--] mn in annual prop mgmt * [-----] (bringing [----] prop mgmt exp to 2025). [----] was last yr w/o any real prop mgmt rev"
X Link 2025-12-16T17:26Z [----] followers, [--] engagements

"@Mr_Neutral_Man SS=Self storage c/b=could be. Having been involved w/ LAACO I was shocked by the price. Had thought Hathaways selling was unlikely but they had to at that price. That's a fair point on the debt tho basis is 4eva. Is your 4.3-4.4 [--] or 22# [--] was another mid teens NOI g for SS"
X Link 2025-12-21T15:36Z [----] followers, [---] engagements

"@AggieCapitalist Mission critical/Sticky customers/Recurring revenue/huge FCF margins = Trash. #AI is everything. It will just magically transform all organizations overnight. Also I bot $WDAY & $CRM. https://www.sgadvisers.com/assets/files/69/how-19th-and-20th-century-classics-inform-21st-century-tech-investing.pdf https://www.sgadvisers.com/assets/files/69/how-19th-and-20th-century-classics-inform-21st-century-tech-investing.pdf"
X Link 2026-01-15T21:37Z [----] followers, [---] engagements

"Here's a few more thoughts on why I'm buying #SAAS Salesforce $CRM and $WDAY as well as historical perspective on why this investment might suck for a couple years $MSFT $ORCL https://www.privateeyecapital.com/why-im-buying-the-software-massacre/ https://www.privateeyecapital.com/why-im-buying-the-software-massacre/"
X Link 2026-01-17T15:38Z [----] followers, [--] engagements

"@ZarathustraCap @bradleyjohnson2 Will be interesting to see. The difference this time is the amount private capital chasing apartments is much higher than ever before. $BX's $BREIT alone raised $10 bn in equity in 1Q21 (lever it and were talking $20 bn+) per Q to invest (75% of BREIT is resi/industrial)"
X Link 2022-05-21T14:37Z [----] followers, [--] engagements

"Putting it in context of the overall US #multifamily sales market - data from @Newmark $NMRK https://www.nmrk.com/storage-nmrk/uploads/documents/1Q22-US-Multifamily-Capital-Markets-Report.pdf https://www.nmrk.com/storage-nmrk/uploads/documents/1Q22-US-Multifamily-Capital-Markets-Report.pdf"
X Link 2022-06-07T22:45Z [----] followers, [--] engagements

"@Newmark $BX $BREIT #multifamily #CRE"
X Link 2022-06-07T22:47Z [----] followers, [--] engagements

"Starwood's $SREIT is another rapidly growing private #REIT. Launched in [----] it now boasts nearly $24 bn in assets (raised $2 bn in new equity in 1Q). SREIT loves #multifamily #CRE even more than $BX's $BREIT with a 66% allocation: #REITs #privateREITs https://www.starwoodnav.reit/wp-content/uploads/2022/04/SREIT-Presentation-Q1-2022.pdf https://www.starwoodnav.reit/wp-content/uploads/2022/04/SREIT-Presentation-Q1-2022.pdf"
X Link 2022-06-08T11:37Z [----] followers, [--] engagements

"Annualize 1Q inflows would be $8+ bn. 50% LTV-$16 bn per year to deploy. 2/3 Multifamily allocation-$10 bn per year of MF to buy. So between $BREIT and $SREIT that is $40-50 bn worth of MF that they need to BUY EACH YEAR. Again compare to annual MF transaction levels:"
X Link 2022-06-08T11:43Z [----] followers, [--] engagements

"@nassaupoint Good point. Some % of the annual sales volume from my Newmark slide are sub-institutional assets meaning that $BX $BREIT $SREIT are buying a larger % of inst quality assets"
X Link 2022-06-08T12:17Z [----] followers, [--] engagements

"@GrandTokamak 3/Best #inflation protection in CRE space w/ leases repricing annually I think you'd have to be kind of insane to own Treasuries long term. If I were going to lock up capital for [--] years and could only choose between apartments at 3.75% cap and Treasuries I'd put 100% in apart"
X Link 2022-06-09T12:26Z [----] followers, [--] engagements

"@GrandTokamak 4/I think fund flows into the space have long term legs. $BX $BREIT is a fund raising machine ($BREIT is $100 bn in AUM - it was started in 2016). They've made their intention clear where the capital is going. Same for $SREIT ($24 bn -started in 2017). $BAM is starting to"
X Link 2022-06-09T12:29Z [----] followers, [--] engagements

"2/n Here's where we sit today. Given the huge leasing spreads on leases signed YTD it makes sense to look at the [----] #s which get the flow through of today's higher rent levels (doesn't bake in much future rent growth say 3% for 2023)"
X Link 2022-06-14T16:23Z [----] followers, [--] engagements

"3/n $BX started $BREIT in [----] and we see a decline in caps from low [--] to high 3s. Bear in mind $AVB is typically selling from the bottom quartile/quintile of their portfolio - older assets/ not the best locations/ things they believe have the lowest hold period IRRs"
X Link 2022-06-14T16:26Z [----] followers, [--] engagements

"In addition to the utter folly of trying to guess where share prices might be in 6-12 months (impossible/worthless endeavor) the sell-side fails to understand the STRUCTURAL change in not only REPE dry powder BUT also the RATE at which it grows (much of which is"
X Link 2022-07-21T17:14Z [----] followers, [--] engagements

"in quasi permanent capital vehicles such as $BREIT). Old rules like 'don't buy into decelerating rent trends' much less relevant. Apartment #REITs are just 5% of the market - they are but a sideshow often mispriced -the private market is the REAL market. $ESS $UDR $AVB $MAA $CPT"
X Link 2022-07-21T17:17Z [----] followers, [--] engagements

"@larry_bukowski @thepupil11 They love industrial but I'm not very familiar with the space. $INDT could be interesting to them. They don't like office at least not for $BREIT (forever hold). But they might be interested in JV partner $HPP where they can own the other 50% of the studio biz get some"
X Link 2022-07-22T12:25Z [----] followers, [--] engagements

"The moral of the PEC-a-logue is 1/While inflation is taking its toll on many bizes multifamily is BENEFITTING as rents increase ahead of inflation 2/2023 earn in & continued strong leasing conditions - [----] will be another great year 3/ $BX / $BREIT continue to suck up flows"
X Link 2022-07-26T21:25Z [----] followers, [--] engagements

"To $BX credit they avoided troubled areas like office/retail #CRE and were concentrated in the sunbelt. But the 2Q22 20% drawdown in $CPT $MAA (and $BX $BREIT's 'outperformance') were simply b/c public market investors panic $TLT sometimes which makes for an odd victory lap IMO"
X Link 2022-07-28T22:55Z [----] followers, [--] engagements

"https://x.com/PrivateEyeCap/status/1534499907700002816 Starwood's $SREIT is another rapidly growing private #REIT. Launched in [----] it now boasts nearly $24 bn in assets (raised $2 bn in new equity in 1Q). SREIT loves #multifamily #CRE even more than $BX's $BREIT with a 66% allocation: https://t.co/umZHrLE4qz #REITs #privateREITs https://t.co/fg5Wmm8FRi https://x.com/PrivateEyeCap/status/1534499907700002816 Starwood's $SREIT is another rapidly growing private #REIT. Launched in [----] it now boasts nearly $24 bn in assets (raised $2 bn in new equity in 1Q). SREIT loves #multifamily #CRE even"
X Link 2022-08-06T17:52Z [----] followers, [--] engagements

"ALSO.like $BX 's $BREIT despite share price carnage in MF #REITs $AVB $CPT $EQR $ESS $UDR $MAA $NXRT (all of which saw mid teens NOI growth YoY) and all of which acknowledged some level of decline in MF values (5-10%) $SREIT continues to report VERY smooth returns:"
X Link 2022-08-06T18:04Z [----] followers, [--] engagements

"Seems like $SPB works out one way or another. If sale of HHI to Assa is quashed there is enough time to work down its debt load & stock is incredibly cheap @ 6x FCF. If sale to Assa does go through stock should move up 70-100% very quickly https://seekingalpha.com/article/4546869-spectrum-brands-7share-in-fcf-without-hhi-sale $SPB - anyone have a sense of how this works in practice i.e. how hard does Assa have to try to sell these brands to comply w/ HHI purchase agreement and placate DOJ Can Assa just demand an unrealistic price and say it tried https://t.co/ArFCZaYSYt"
X Link 2022-10-29T21:45Z [----] followers, [--] engagements

"Great news for $SPB shareholders this am. With HHI $ASSAB now very likely to close I see $90+ in per share value here: $SPB Spectrum Brands' Statement on ASSA ABLOY's Proposed Sale of its Emtek and Smart Residential Business in the U.S. and Canada https://t.co/LDU5ahkhaj $SPB Spectrum Brands' Statement on ASSA ABLOY's Proposed Sale of its Emtek and Smart Residential Business in the U.S. and Canada https://t.co/LDU5ahkhaj"
X Link 2022-12-02T12:31Z [----] followers, [--] engagements

"IMO $SPB is highly asymmetric even at $60 pre-market price. Here's my analysis showing how cheap $SPB is even in the (now very unlikely) event HHI does not close: https://seekingalpha.com/article/4546869-spectrum-brands-7share-in-fcf-without-hhi-sale https://seekingalpha.com/article/4546869-spectrum-brands-7share-in-fcf-without-hhi-sale"
X Link 2022-12-02T12:34Z [----] followers, [--] engagements

"Bought small positions in battered UK micocaps $KGH (law firm @ 4x EPS) and $MOTR (similar-ish to $KMX looks to be 5x normalized EPS). Anyone have any other UK small/microcap favorites trading at nonsensical valuations"
X Link 2023-07-03T18:20Z [----] followers, [----] engagements

"https://www.youtube.com/watchv=olzz82oRCMI&list=RDolzz82oRCMI&start_radio=1 https://www.youtube.com/watchv=olzz82oRCMI&list=RDolzz82oRCMI&start_radio=1"
X Link 2023-10-12T21:37Z [----] followers, [---] engagements

"$SHC https://seekingalpha.com/article/4640433-sotera-health-great-business-discount https://seekingalpha.com/article/4640433-sotera-health-great-business-discount"
X Link 2023-10-12T21:37Z [----] followers, [---] engagements

"@analogcap Didn't realize GA suits were that big of an overhang https://seekingalpha.com/news/4020927-sotera-health-to-pay-35m-to-settle-ethylene-oxide-exposure-claims-in-atlanta https://seekingalpha.com/news/4020927-sotera-health-to-pay-35m-to-settle-ethylene-oxide-exposure-claims-in-atlanta"
X Link 2023-10-17T14:58Z [----] followers, [--] engagements

"$DRVN good overview of history/situation/unit economics/growth opp here. https://www.yetanothervalueblog.com/p/grizzlyrock-capitals-kyle-mowery https://www.yetanothervalueblog.com/p/grizzlyrock-capitals-kyle-mowery"
X Link 2025-11-11T14:42Z [----] followers, [---] engagements

"With a deck here: https://www.grizzlyrockcapital.com/wp-content/uploads/2024/10/GrizzlyRock-Driven-Brands-Write-Up-October-2024.pdf https://www.grizzlyrockcapital.com/wp-content/uploads/2024/10/GrizzlyRock-Driven-Brands-Write-Up-October-2024.pdf"
X Link 2025-11-11T14:43Z [----] followers, [---] engagements

"https://www.youtube.com/watchv=aNZpGVkJKso&list=RDaNZpGVkJKso&start_radio=1 https://www.youtube.com/watchv=aNZpGVkJKso&list=RDaNZpGVkJKso&start_radio=1"
X Link 2025-11-11T14:46Z [----] followers, [---] engagements

"$AIRC -given tough financing environment I don't see a topper (also unlike [----] when there was an aggregation/portfolio premium today there is a discount) and divvy is suspended so I closed out position. Put some of the proceeds into $SBUX"
X Link 2024-04-08T14:34Z [----] followers, [----] engagements

"Re: 5.9% for $AIRC. Seems to be some confusion given the JVs. Can't use cons debt ('Total Air Share' from pg [--] of 4Q supp which incls prefs.). For NOI annualize 4Q23 + 1% (4Q captures some 24e 'earn-in' NOI g). Proportionally consolidated (pg 20). Then deduct prop mgmt. 1/n $BX to buy $AIRC. At $39 this is like a 5.9% implied cap rate on my 2024e NOI (prop consolidated less prop mgmt expenses). Not great folks. https://t.co/5S5T8upLwF $BX to buy $AIRC. At $39 this is like a 5.9% implied cap rate on my 2024e NOI (prop consolidated less prop mgmt expenses). Not great folks."
X Link 2024-04-08T20:23Z [----] followers, 12.5K engagements

"$CPT $MAA $UDR downgraded Oct [--] [----] by $BAC wizards at what looks to have been the absolute bottom and 2x upgraded today (at [--] wk high). You can have good news or (very) cheap #REITs folks. https://seekingalpha.com/news/4027003-maa-udr-camden-property-downgraded-at-bofa-due-to-sunbelt-exposure https://seekingalpha.com/news/4027003-maa-udr-camden-property-downgraded-at-bofa-due-to-sunbelt-exposure"
X Link 2024-08-12T16:13Z [----] followers, [---] engagements

"$AVB issuing [---] mn shares here (5 cap on 2025e NOI). Presumably will be deployed into sunbelt acqs at a similar cap rate. $CPT $MAA $EQR $UDR https://investors.avalonbay.com/news-events/press-releases/detail/402/avalonbay-communities-inc-announces-public-offering-of-3200000-shares-of-common-stock https://investors.avalonbay.com/news-events/press-releases/detail/402/avalonbay-communities-inc-announces-public-offering-of-3200000-shares-of-common-stock"
X Link 2024-09-05T22:14Z [----] followers, [----] engagements

"Grabbed a little Brenntag $BNR $BNR.DE Leading many-to-many chem distribution requiring lots of logistics. Tough to disrupt. Over-earned in 2021-23 making for rough comps in [--]. 13x 25e FCF seems cheap-ish. $UNVR $APO"
X Link 2024-10-29T19:40Z [----] followers, [----] engagements

"Bot Big Yellow $BYG/ $BYG.LN UK's self stor leader. 4.7% div/6.6 cap (v. US SS #REITs 5.2-5.8 cap). 60% London-higher barrier to supply. Like every intn'l mkt per cap self stor a fraction of US levels. 3x ND/EBITDA. Develop to 8-9% yld. $PSA $CUBE $EXR $NSA $SAFE.LN $SHUR.BE"
X Link 2024-12-16T13:22Z [----] followers, [----] engagements

"A few more #taxlossselling ideas from across the pond. $BFIT $BYG $KGH $BNR What are your favorite oversold international names https://www.privateeyecapital.com/tax-loss-selling-stocking-stuffer-addition-2/ https://www.privateeyecapital.com/tax-loss-selling-stocking-stuffer-addition-2/"
X Link 2024-12-18T16:14Z [----] followers, [----] engagements

"https://www.youtube.com/watchv=sXhvCtqmhBs&list=RDsXhvCtqmhBs&start_radio=1 https://www.youtube.com/watchv=sXhvCtqmhBs&list=RDsXhvCtqmhBs&start_radio=1"
X Link 2025-08-19T01:15Z [----] followers, [----] engagements

"Somehow I neglected to include $FVR $FVR $FVR $FVR $FVR"
X Link 2025-08-19T01:23Z [----] followers, [---] engagements

"@LeveredLunatic $FCPT $NNN $STWD"
X Link 2025-08-19T01:33Z [----] followers, [---] engagements

"Blackstone $BX issues a reminder to hug your #REITs w/ exploration of deal to acquire UK self-storage leader Big Yellow $BYG $BYG.LN $BYLOF https://seekingalpha.com/news/4503509-blackstone-reportedly-weighs-bid-for-uk-storage-landlord-big-yellow Bot Big Yellow $BYG/ $BYG.LN UK's self stor leader. 4.7% div/6.6 cap (v. US SS #REITs 5.2-5.8 cap). 60% London-higher barrier to supply. Like every intn'l mkt per cap self stor a fraction of US levels. 3x ND/EBITDA. Develop to 8-9% yld. $PSA $CUBE $EXR $NSA $SAFE.LN $SHUR.BE https://t.co/sLMZee6gfm"
X Link 2025-10-13T10:36Z [----] followers, [----] engagements

"@BTFDCapitalLLC @RecoveryTrade generally i don't know that the capital alloc of most multi REITs creates meaningful value but i don't think they destroy. i do think that the SFR guys create some value w/ nice spread on capital recycling"
X Link 2025-11-06T12:53Z [----] followers, [---] engagements

"@BTFDCapitalLLC @RecoveryTrade the buybacks everyone has announced are just little tokens not real value creation tools. i'd kind of like to see Elliot come in (as they did @ $REXR). these guys could all be a 1-3 turns of EBITDA more levered be super safe and create easy value via big buyback here"
X Link 2025-11-06T12:55Z [----] followers, [--] engagements

"@InvestSpecial @Headwaters_Cap Driven $DRVN s/b delevered & able to do buybacks by [----]. I think you can use reasonably conservative assumptions &easily get north of $2/sh of [----] FCF on a maint capex basis"
X Link 2025-11-07T17:39Z [----] followers, [---] engagements

"Bot more $DRVN on recent pullback. DRVN sold US car wash&de-levered below 4x (s/b sub 3x exiting 26). Fast growing Take [--] oil change is now 65% of EBITDA. Take [--] has mid single digit SSS g &can still double footprint. Stock can 2x+ over next [--] yrs IMO $VVV https://seekingalpha.com/article/4840760-driven-brands-a-stable-growing-business-at-less-than-9x-free-cash-flow 1/n I bought decent chunk of $DRVN. Too much debt+cap alloc/operational blunders+mgmt turnover-what's not to like Here's a good writeup (starts on pg 3) highlighting how we got here & what upside opportunity looks like:"
X Link 2025-11-08T12:11Z [----] followers, [----] engagements

"https://www.youtube.com/watchv=QnccxyatrD0&list=RDQnccxyatrD0&start_radio=1 https://www.youtube.com/watchv=QnccxyatrD0&list=RDQnccxyatrD0&start_radio=1"
X Link 2025-11-08T12:11Z [----] followers, [----] engagements

"While I like that Take [--] is now broken out separately I don't like that Auto Glass now (#2 behind Safelite) is now buried in corporate as this could (could) become quite valuable. More of a concern if Roark tried to buy out the float. $DRVN"
X Link 2025-11-11T14:44Z [----] followers, [---] engagements

"https://www.youtube.com/watchv=AZKcl4-tcuo&list=RDAZKcl4-tcuo&start_radio=1 https://www.youtube.com/watchv=AZKcl4-tcuo&list=RDAZKcl4-tcuo&start_radio=1"
X Link 2025-12-08T23:04Z [----] followers, [---] engagements

"#REITs are cheap. Public market sees them as toxic waste but private market is snapping them up.#REITs are only 5% of the market for most sub-sectors. Private market is the REAL market $UDR $MAA $CPT $AMH $INVH $WSR $EQR $AVB $ESS $CSR $NXRT $IRT $FR $REXR $VNQ $BX $APO $KKR"
X Link 2025-12-08T23:13Z [----] followers, [---] engagements

"@Mr_Neutral_Man I like the assets/valuation. SS c/b poised for a rebound. But $CUBE's mgmt committed a cap allocation atrocity buying Storage West $LAACZ for $1.7bn/$384ft/3.7 cap @ top of SS supercycle in late [--]. Paid for it 45% shares (low [--] cap) &rest w/ debt. Looked bad then/worse now"
X Link 2025-12-21T12:38Z [----] followers, [----] engagements

"Big PE loving #CRE today w/ Blackstone $BX buying Sun's $SUI's marina biz & Apollo $APO acquiring Bridge $BRDG. $ELS $KKR $CG $TPG #REITs #multifamily https://www.apollo.com/insights-news/pressreleases/2025/02/apollo-to-acquire-bridge-investment-group-3031108 https://www.suninc.com/news-releases https://www.apollo.com/insights-news/pressreleases/2025/02/apollo-to-acquire-bridge-investment-group-3031108 https://www.suninc.com/news-releases"
X Link 2025-02-24T14:38Z [----] followers, [----] engagements

"I've never called a bottom. But $PIPR's #REITs analyst has: $UDR $MAA $CPT #contra #multifamily $EQR $AVB $ESS $INVH #REIT Headlines 10-31-2023 * Piper Sandler upgrades $AVB to Overweight from Neutral (lower price target by $3 to $194) * Piper Sandler downgrades $MAA to Neutral from Overweight (lower price target by $52 to $130) * Piper Sandler downgrades $CPT ($80) and $UDR ($30) to #REIT Headlines 10-31-2023 * Piper Sandler upgrades $AVB to Overweight from Neutral (lower price target by $3 to $194) * Piper Sandler downgrades $MAA to Neutral from Overweight (lower price target by $52 to"
X Link 2025-08-04T10:37Z [----] followers, [----] engagements

"Getting back up to speed on $WSR which looks to be trading at a mid 8s imp cap rate. Any reason to think this new activist w/b successful where others have failed IIRC WSR BOD never engaged w/ bidder last year. $KIM $BRX #REITs $REG $KRG https://www.reuters.com/sustainability/boards-policy-regulation/whitestone-reit-may-face-board-challenge-by-hedge-fund-emmett-investment-sources-2025-08-21/ https://www.reuters.com/sustainability/boards-policy-regulation/whitestone-reit-may-face-board-challenge-by-hedge-fund-emmett-investment-sources-2025-08-21/"
X Link 2025-10-02T17:28Z [----] followers, [---] engagements

"1/Only a moron buys an illiquid small cap -36% YTD heading into tax loss selling season. 2/I bot some Mister Carwash $MCW which is down 36% ytd https://seekingalpha.com/article/4829212-mr-carwash-too-cheap-at-9x-free-cash-flow https://seekingalpha.com/article/4829212-mr-carwash-too-cheap-at-9x-free-cash-flow"
X Link 2025-10-13T17:47Z [----] followers, [----] engagements

"@Mr_Neutral_Man 26-27 Supply looks good for SS &moves are at/near generational lows (MF/SFR turnover near all time lows existing home tnxs at/near [--] yr lows). SS could see a nice pickup in rates/occ/NOI. Valuations of $EXR/ $PSA undemanding in high 5s. I might do a basket approach"
X Link 2025-12-21T12:53Z [----] followers, [---] engagements

"Bot a lil Diageo $DEO $DGE.L I've got @ 16x 6/25e EPS which is cheap relative to 10-15y hist valuation though IMO this is a good not great business w/ less competitive insulation / more consumer pref risk / greater economic sensitivity than I'd like"
X Link 2024-06-29T01:32Z [----] followers, [----] engagements

"$WD Walker & Dunlop (22 minutes in) 4Q23 #multifamily transaction cap rates 5-5.25%. https://www.youtube.com/watchv=brEpzXFYHU4&t=34s https://www.youtube.com/watchv=brEpzXFYHU4&t=34s"
X Link 2024-02-18T19:25Z [----] followers, [----] engagements

"My article on $FVR: $O $ADC $FCPT $NNN $NTST $BNL $WPC #REITs #dividends $BRX $FRT $KIM $KRG $CURB $SITC https://seekingalpha.com/article/4771465-frontview-reit-buying-outparcels-6-5-percent-dividend-yieldv=1743221730&comments=show#comment-99951164 Bot some $FVR. [--] cap&$264/ft&11xAFFO. Closest #REIT peer is $FCPT which trades @ [---] cap&480ft&16xAFFO. FCPT is 1/2 Darden $DRI. Despite concentration that's a + for FCPT as DRI has consistently killed it in a tough casual dining sector. But I think valuation diff is too high."
X Link 2025-03-29T10:42Z [----] followers, [----] engagements

"Some thoughts on 2Q25 Resi #REITs results & cap rates per door expected IRRs: $AVB $CPT $ESS $EQR $MAA $INVH $AMH $ELS $SUI $NXRT $CSR $BRT $UDR $VNQ $TLT https://www.privateeyecapital.com/2q25-resi-reit-thoughts-cap-rates-per-door-4yr-irr/ https://www.privateeyecapital.com/2q25-resi-reit-thoughts-cap-rates-per-door-4yr-irr/"
X Link 2025-08-01T16:56Z [----] followers, 16.4K engagements

"@yenoms I think the medium term risk/reward is great here. We are on the other side of the wall of supply - $CPT call illustrates how myopic SS 'analysts' are on the next quarter are two despite imminent fall off in deliveries https://seekingalpha.com/article/4807965-camden-property-trust-cpt-q2-2025-earnings-call-transcript https://seekingalpha.com/article/4807965-camden-property-trust-cpt-q2-2025-earnings-call-transcript"
X Link 2025-08-02T00:59Z [----] followers, [---] engagements

"@jayparsons https://www.youtube.com/watchv=xG4AhAnyqvE&list=RDxG4AhAnyqvE&start_radio=1 https://www.youtube.com/watchv=xG4AhAnyqvE&list=RDxG4AhAnyqvE&start_radio=1"
X Link 2025-08-02T12:36Z [----] followers, [----] engagements

"@jayparsons My recent piece on $CPT $IRT $UDR $MAA #REITs #dividends https://seekingalpha.com/article/4808110-camden-property-trust-looking-ahead-an-imminent-inflection https://seekingalpha.com/article/4808110-camden-property-trust-looking-ahead-an-imminent-inflection"
X Link 2025-08-03T14:06Z [----] followers, [---] engagements

"Great summary of recent $FVR results from @RealAssetsValue . Tenant issues largely addressed+ addn'l disclosure on tenants+historical renewal info= greater confidence. I value this the same way (7.5 cap fair value) & get to same NAV ($18.50) which is just a shade below IPO price. $FVR Q2 results were solid. Sold assets at 6.75% cap to acquire at 8.2% cap with longer WALT. Occupancy up bad debt running 25-50 bps. Portfolio "humming". Trades at 9.5% cap and 10x AFFO a 30% discount to my NAV estimate based on 7.5% cap rate / peer average AFFO multiple. https://t.co/ezcA3xEH1e $FVR Q2 results"
X Link 2025-08-15T19:16Z [----] followers, [----] engagements

"In the wake of bid for $PLYM & recent progress on liquidation of $ELME $AIV $SITC which #REIT that shouldn't exist will be sold/liquidated next $AHH $BRT $WSR $CSR $AHH $BRT $WSR $CSR"
X Link 2025-08-19T01:12Z [----] followers, [----] engagements

"$FVR CEO picking up a few more shares https://d18rn0p25nwr6d.cloudfront.net/CIK-0001988494/08dacd1d-a275-44ce-a368-b637f5e4c8ce.pdf Great summary of recent $FVR results from @RealAssetsValue . Tenant issues largely addressed+ addn'l disclosure on tenants+historical renewal info= greater confidence. I value this the same way (7.5 cap fair value) & get to same NAV ($18.50) which is just a shade below IPO price. https://d18rn0p25nwr6d.cloudfront.net/CIK-0001988494/08dacd1d-a275-44ce-a368-b637f5e4c8ce.pdf Great summary of recent $FVR results from @RealAssetsValue . Tenant issues largely"
X Link 2025-08-20T19:53Z [----] followers, [----] engagements

"re: $WSR IMO no reason to sell at [-----]. IMO fair value is in the range of 18-20/share @ 6.5-7 cap. TX/AZ shopping center assets are only increasing in value. That said it is subscale (high G&A burden) and I wouldn't mind seeing it put in play & sold if it fetches a full price"
X Link 2025-11-05T02:13Z [----] followers, [---] engagements

"Might Camden $CPT be the symbol (selling assets at [--] caps & buying back a meaningful chunk of stock at 6.5+) #REITtown needs Probably not.but maybe This isn't the kind of share buyback that you deep value folks want but it's not bad either at 0.44% of the shares outstanding $CPT during a single quarter @AndrewRangeley Shares are now 7.5% cheaper than mgt's buyback price https://t.co/myfgFhwq2P This isn't the kind of share buyback that you deep value folks want but it's not bad either at 0.44% of the shares outstanding $CPT during a single quarter @AndrewRangeley Shares are now 7.5% cheaper"
X Link 2025-11-07T21:28Z [----] followers, [----] engagements

"$AMH https://seekingalpha.com/article/4850860-american-homes-4-rent-low-risk-high-returnv=1765026700&comments=show#comment-101633192 https://seekingalpha.com/article/4850860-american-homes-4-rent-low-risk-high-returnv=1765026700&comments=show#comment-101633192"
X Link 2025-12-06T19:01Z [----] followers, [---] engagements

"https://www.youtube.com/watchv=UX_OUkvkNfY&list=RDUX_OUkvkNfY&start_radio=1 https://www.youtube.com/watchv=UX_OUkvkNfY&list=RDUX_OUkvkNfY&start_radio=1"
X Link 2025-12-06T19:03Z [----] followers, [---] engagements

"I believe $CRM (14x fwd FCFE) will significantly outperform $WMT (40x fwd FCFE) over the next [--] years and am positioned accordingly"
X Link 2026-01-15T19:01Z [----] followers, [----] engagements

"https://www.youtube.com/watchv=fzDqfdmvw2o https://www.youtube.com/watchv=fzDqfdmvw2o"
X Link 2026-01-15T19:01Z [----] followers, [----] engagements

"https://x.com/levie/status/2012353041782263965 AI brings down the cost of building software dramatically. And now everyone can write code for any use case they can think of. But nothing changes about the concept of core competencies in a company. Companies spend their finite resources on things that differentiate them and https://x.com/levie/status/2012353041782263965 AI brings down the cost of building software dramatically. And now everyone can write code for any use case they can think of. But nothing changes about the concept of core competencies in a company. Companies spend their finite"
X Link 2026-01-17T23:59Z [----] followers, [----] engagements

"https://www.wsj.com/business/retail/amazon-orland-park-illinois-opening-13362c97 https://www.wsj.com/business/retail/amazon-orland-park-illinois-opening-13362c97"
X Link 2026-01-21T17:49Z [----] followers, [---] engagements

"https://x.com/JaredSleeper/status/2014110386312593855 Full presentation: https://t.co/4Ltp5odZ5p https://x.com/JaredSleeper/status/2014110386312593855 Full presentation: https://t.co/4Ltp5odZ5p"
X Link 2026-01-23T18:44Z [----] followers, [---] engagements

"Some thoughts on 2Q25 Resi #REITs results & cap rates per door expected IRRs: $AVB $CPT $ESS $EQR $MAA $INVH $AMH $ELS $SUI $NXRT $CSR $BRT $UDR $VNQ $TLT https://www.privateeyecapital.com/2q25-resi-reit-thoughts-cap-rates-per-door-4yr-irr/ https://www.privateeyecapital.com/2q25-resi-reit-thoughts-cap-rates-per-door-4yr-irr/"
X Link 2025-08-01T16:56Z [----] followers, 16.4K engagements

"1/n As we sit today $RADI trades at an implied cap rate of 6%. It is entirely possible that the public market will not recognize the value in the company given that the P&L is burdened with acquisition SG&A. Coupled with interest expense ($RADI had the foresight to over-raise"
X Link 2022-04-12T23:07Z [----] followers, [---] engagements

"For a company with a very strong market position high margins/ROIC and fantastic FCF generation $BTI / $BATS.LN is far too cheap at 8x FCF. Today I will contemplate the BEAR case and am interested feedback for things I am missing/overlooking: $MO $PM #smoking #sinstocks $TPB"
X Link 2021-09-18T13:30Z [----] followers, [---] engagements

"Here's my writeup on what I believe to be a great opportunity in the apartment #REITs: $AVB $ESS $EQR $CPT $MAA $UDR $BX $NXRT $VNQ #dividends $XHB $BRG $APTS $CLPR $NEN $ACC $INVH $AMH $AIRC $BRT $CSR $IRT $BREIT $SREIT #cre #multifamily #apartments $TLT https://www.privateeyecapital.com/apartment-reits-are-cheap-again/ https://www.privateeyecapital.com/apartment-reits-are-cheap-again/"
X Link 2022-06-09T11:51Z [----] followers, [--] engagements

"Picked up some $APO over the past week. Shares down 30% YTD and below pre-pandemic levels. If you value old $ATH @ TBV (9x spread biz AT earnings) the implied P/E (after tax) of fee related earnings is sub [--] AND you get the carry for free. $KKR $CG $BX $TPG #privateequity"
X Link 2022-04-29T21:36Z [----] followers, [--] engagements

"Some interesting historical data on 1-3 yr #REIT performance (abs & rel) when REITs traded at 20% or greater discount to NAV $VNQ #dividends $EQR $KRC $ESS $CPT $MAA $PLD $UDR $INVH $SPG $O $AMT $BXP https://www.janushenderson.com/social/article/public-vs-private-real-estate-similar-assets-different-prices-emea/ https://www.janushenderson.com/social/article/public-vs-private-real-estate-similar-assets-different-prices-emea/"
X Link 2023-01-07T01:21Z [----] followers, 16.6K engagements

"$BX reports 2Q22. RE continues to vacuum up flow. $BREIT hauls in another $6.6 bn in 2Q + $1.4 bn so far in July. $60 bn in dry powder. #REITs"
X Link 2022-07-21T12:30Z [----] followers, [--] engagements

"What's the opposite of $SIVB $BAC $WFC $FRC large MTM losses on HTM securities Long-term low fixed rate debt $ARE #REITs"
X Link 2023-03-13T21:26Z [----] followers, 21.3K engagements

"Updated implied cap rates EV/door and NAV ests for #multifamily #REITs: $AVB $CPT $EQR $ESS $MAA $NXRT $IRT $UDR $VNQ $INVH $BX $AMH #dividends"
X Link 2022-10-08T01:10Z [----] followers, [--] engagements

"@WTCM3 Fun fact: Apartment #REITs are trading north of a [--] cap (not 3) and they aren't buying assets at [--] caps (though in some cases have been selling assets at [--] caps). Other than being totally wrong this is a great quote from a legend"
X Link 2022-06-16T13:04Z [----] followers, [--] engagements

"Cap rates per door [--] year expected IRR for #multifamily #REITs: $AVB $CPT $EQR $ESS $MAA $SUI $UDR $VNQ $BX $WD #dividends https://www.privateeyecapital.com/multifamily-reits-cap-rates-per-door-expected-4-year-irr/ https://www.privateeyecapital.com/multifamily-reits-cap-rates-per-door-expected-4-year-irr/"
X Link 2023-10-15T19:36Z [----] followers, 14.6K engagements

"So if I'm doing this right at $24/sh for $SPHR and stripping out interest in $MSGE one is paying $7/sh for the Sphere (buildout will consume cash balance; debt attrib to $MSGN). W/ 35m shares works out to $255 mn vs build cost of $2.3 bn"
X Link 2023-05-31T22:09Z [----] followers, 20.6K engagements

"Snapshot of $BX's B-REIT Of note is a 50% allocation to residential which is mainly multifamily https://www.breit.com/wp-content/uploads/sites/23/2022/05/BREIT-Quarterly-Update.pdfv=1652882424 https://www.breit.com/wp-content/uploads/sites/23/2022/05/BREIT-Quarterly-Update.pdfv=1652882424"
X Link 2022-06-07T22:14Z [----] followers, [--] engagements

"$CZR Presumably Icahn will seek large buyback funded by 1/FCF from ops & 2/sale-leaseback of large real estate portfolio to $VICI $GLPI $O $BX $APO which I estimate to be worth $14bn (can pay off ALL debt and allow for big buyback). RE lite approach would be inline w/ $MGM $PENN"
X Link 2024-05-31T17:30Z [----] followers, 12.1K engagements

"I've created this pointless table showing shares / $$$s needed to own one apartment by #multifamily #REITs. A function of EV/door & leverage: $AIRC $AVB $CPT $ESS $EQR $MAA $UDR #dividends $VNQ $BX"
X Link 2024-02-14T20:40Z [----] followers, [----] engagements

"Updated #multifamily #REIT cap rates per door estimated IRRs: $AIRC $AVB $CPT $EQR $ESS $MAA $UDR $BX $VNQ #dividends #CRE #ReTwit $WD https://www.privateeyecapital.com/updated-multifamily-cap-rates-per-door-irr-ests/ https://www.privateeyecapital.com/updated-multifamily-cap-rates-per-door-irr-ests/"
X Link 2024-02-09T23:22Z [----] followers, [----] engagements

"1/n Here's a simple way of how I get to $24/sh for $RADI:"
X Link 2022-05-07T13:36Z [----] followers, [--] engagements

"$BX to buy $AIRC. At $39 this is like a 5.9% implied cap rate on my 2024e NOI (prop consolidated less prop mgmt expenses). Not great folks. https://seekingalpha.com/news/4087863-apartment-income-reit-jumps-on-report-of-blackstone-10b-takeover Swapped some $EQR & $ESS into $AIRC. At these prices AIRC's cap rate is 80-100bps higher & 4-5 yr IRR s/b meaningfully higher. #REITs #multifamily $AVB $UDR https://seekingalpha.com/news/4087863-apartment-income-reit-jumps-on-report-of-blackstone-10b-takeover Swapped some $EQR & $ESS into $AIRC. At these prices AIRC's cap rate is 80-100bps higher & 4-5"
X Link 2024-04-08T12:31Z [----] followers, 15.9K engagements

"Swapped some $EQR & $ESS into $AIRC. At these prices AIRC's cap rate is 80-100bps higher & 4-5 yr IRR s/b meaningfully higher. #REITs #multifamily $AVB $UDR"
X Link 2024-03-04T19:04Z [----] followers, 13.7K engagements

"Are Mobile Home Park operator $SUI and $ELS the best real estate businesses #reits #dividends $TLT $VNQ $XLRE 1/No supply concerns - supply is flat over time. Many parks converted to higher & better use while NIMBYism and high land costs prevent new supply from being added"
X Link 2021-01-16T19:15Z [----] followers, [--] engagements

"Rents. Are. Ripping. We're only in July but $ESS raised guidance for the 3rd time this year FY SS NOI now expected to grow @ 13.5% YoY (+1.4% vs. previous guide [---] weeks ago). Similar #s coming out of $EQR $UDR after the bell. #REITs #apartments #dividends"
X Link 2022-07-26T21:07Z [----] followers, [--] engagements

"$SBUX is kinda interesting here. Stock down on 1Q miss/weak 2Q guide. Assuming 6% OP CAGR (=2016-23 OP CAGR) through [----] and putting an 18x OP/24x EPS on 27e EPS gets me just over $110/sh. After factoring in div that's 10% return pa. Not bad but not too exciting. BUT.1/n"
X Link 2024-04-06T23:25Z [----] followers, 12.4K engagements

"According to sell-side wizards @ Piper $PIPR $EQR was a sell in the 50s and a hold in the 70s. Thanks 1/ What follows is a short tirade on broker 'research' $GS $MS $JEF $BAC $C as it relates to REITs: $EQR - Equity Residential raised to Neutral at Piper as REIT adjusts market mix https://t.co/xOjDelijwO $EQR - Equity Residential raised to Neutral at Piper as REIT adjusts market mix https://t.co/xOjDelijwO"
X Link 2021-04-29T13:30Z [----] followers, [--] engagements

"$EQR - Equity Residential raised to Neutral at Piper as REIT adjusts market mix https://seekingalpha.com/news/3687893-equity-residential-raised-to-neutral-piper-reit-adjusts-market-mixsource=feed_f&utm_campaign=twitter_automated&utm_content=news&utm_medium=social&utm_source=twitter_automated https://seekingalpha.com/news/3687893-equity-residential-raised-to-neutral-piper-reit-adjusts-market-mixsource=feed_f&utm_campaign=twitter_automated&utm_content=news&utm_medium=social&utm_source=twitter_automated"
X Link 2021-04-29T13:16Z 92K followers, [--] engagements

"$MAA guides to -1.3% SSNOI @ midpoint. Better than I'd have guessed. Turnover very low renewals strong at nearly +5%. New lease/blend improved in Jan v 4Q23. Bot a lease-up deal in Charlotte. Expects more deals in [--]. @ $125- [---] cap $CPT $UDR $NXRT #REITs #multifamily $BX $VNQ"
X Link 2024-02-07T22:34Z [----] followers, [----] engagements

"Went on a long-duration (20+) #REIT unsecured bond shopping spree. Good #CRE Low LTVs (sub 40% Debt/ EBITDA 4.4-6x not much secured debt ahead of me). High 6-low 7s YTMs $ESS $EQR $AMH $VICI $REG $KIM $FRT #bonds $TLT #fixedincome #interestrates #yield #dividends #rates"
X Link 2023-10-18T16:14Z [----] followers, [----] engagements

"$EQR results as expected. [----] NOI guide -12-15% so peak (2019) to trough (2021) decline in NOI expected to be -17-20%. I'd been thinking -20% after 3Q#s. Like at $AVB $ESS $UDR rents stabilizing/occupancy increasing. #reits $VNQ #dividend #cre #investing $TLT"
X Link 2021-02-10T22:51Z [----] followers, [--] engagements

"Been buying some #REITs today - $ESS $MAA $CPT $KRC and $ARE ahead of #REITweek . $ESS put out a presentation Fri which included a guidance hike. I have $ESS at a 4.5% cap rate vs. recent private market transactions in the mid 3s - from 1Q22 conf call:"
X Link 2022-06-06T17:41Z [----] followers, [--] engagements

"Looking to [----] I have $CZR @ 6x 2026e EV/EBITDA. I'm using $4.1 bn in 26e EBITDAR (vs. mgmt guide of $5 bn in 25). Multiple shrinks rapidly due to FCF generation. $VICI will (likely) call some regional assets at y/e but $CZR will still own 1/2 of its Vegas RE and 35% of reg"
X Link 2024-03-14T20:21Z [----] followers, [----] engagements

"1/n Higher/rising rates $TLT & 2023/24 unit deliveries have weighed on #multifamily #REITs $AVB $CPT $EQR $ESS $MAA $UDR over the past year. I see the credit events $SIVB $FRC $SBNY $KBE of the past week being a positive for the sector as:"
X Link 2023-03-16T11:25Z [----] followers, 14.2K engagements

"$AVB bought #multifamily deals in the mid 4s (Dallas/Charlotte) as it looks to build presence outside the coast. Surprised they couldn't do better tbh"
X Link 2023-10-26T23:25Z [----] followers, [----] engagements

"Re: Bberg report on $RADI there has been a pattern over past 7-8 mos. For $LAACZ BBerg rumored sale in midSept. Stock went from like $3400-4k. Takeout announced in Nov. at $9840 https://www.bloomberg.com/news/articles/2021-09-17/laaco-is-said-to-explore-storage-west-sale-as-self-storage-boomsreported https://www.bloomberg.com/news/articles/2021-09-17/laaco-is-said-to-explore-storage-west-sale-as-self-storage-boomsreported"
X Link 2022-05-07T19:32Z [----] followers, [--] engagements

"Strong set of results from $AVB-bumped FY SSNOI guide to 6.3% from 6%. Setting up for a decent [----]. Bodes well for $EQR $ESS $UDR $AIRC. Also interesting is AVB bought [--] deals in sunbelt-look forward to hearing more about these on tomorrows call"
X Link 2023-10-25T21:13Z [----] followers, [----] engagements

"$ATUS shares have traded like death over the past month or so. Largest non-Drahi holder (Soroban) totally blew out of their stake selling a whopping [--] million shares in the past [--] months. Stock may trade better with this cleaned up $CHTR $CMCSA $CABO http://archive.fast-edgar.com/20210902/ADZ26222H222MTZS222C2ZZGSAA9922SZ232/ http://archive.fast-edgar.com/20210902/ADZ26222H222MTZS222C2ZZGSAA9922SZ232/"
X Link 2021-09-03T10:54Z [----] followers, [--] engagements

"Realty Income $O to buy $SRC $SRC taken out at a 7.7% cap rate. O leverages low cost of capital to make accretive deal for SRC which had a pretty good portfolio IMO #netlease $NNN $ADC $WPC $NTST #EPRT $BNL #REITs #dividends https://www.realtyincome.com/investors/press-releases/realty-income-acquire-spirit-realty-capital-93-billion-transaction https://www.realtyincome.com/investors/press-releases/realty-income-acquire-spirit-realty-capital-93-billion-transaction"
X Link 2023-10-30T11:24Z [----] followers, [----] engagements

"Also picked up a bit of $LOW which is 14x 2023e EPS (at bottom of guide). Discount to 18x for $HD (Low has traded at a discount for quite awhile) seems too big to me. To the extent that rates $TLT are 'higher for longer' moves will be subdued but I suspect folks will"
X Link 2023-03-01T19:41Z [----] followers, [----] engagements

"Picked up some $GOOGL at a [--] cap"
X Link 2022-07-22T15:34Z [----] followers, [--] engagements

"Used my $RADI cash to go on a #REIT shopping spree today $ESS $CPT $EQR $AVB $HPP $WSR Which means that these are all headed much lower in the next few weeks"
X Link 2023-03-01T19:37Z [----] followers, [----] engagements

"Interested in #multifamily #REITs Join us tomorrow tomorrow afternoon on spaces $AIRC $AVB $CPT $EQR $ESS $MAA $UDR $IRT $NXRT #REIT $VNQ $BX We'll be breaking down MF REIT results tomorrow afternoon with @PrivateEyeCap (and possible guest appearance from @Mr_Neutral_Man) @philbak1 @JonsEcon https://t.co/Zei8ZXv8Uo We'll be breaking down MF REIT results tomorrow afternoon with @PrivateEyeCap (and possible guest appearance from @Mr_Neutral_Man) @philbak1 @JonsEcon https://t.co/Zei8ZXv8Uo"
X Link 2024-02-08T22:30Z [----] followers, [----] engagements

"We'll be breaking down MF REIT results tomorrow afternoon with @PrivateEyeCap (and possible guest appearance from @Mr_Neutral_Man) @philbak1 @JonsEcon https://x.com/i/spaces/1kvJpvZjkvVKE https://x.com/i/spaces/1kvJpvZjkvVKE"
X Link 2024-02-08T22:22Z 24.1K followers, [----] engagements

"Tends to be smoke where there is fire as we saw w/ $BRG $APTS. Many potential buyers for $RADI incl $BX $AMT $APO $O among others. If there is a deal it isn't gonna be at $14.50. $25 is reasonable https://www.privateeyecapital.com/other-things-ive-done-pt-2-towers/ 1/n As we sit today $RADI trades at an implied cap rate of 6%. It is entirely possible that the public market will not recognize the value in the company given that the P&L is burdened with acquisition SG&A. Coupled with interest expense ($RADI had the foresight to over-raise"
X Link 2022-05-06T18:42Z [----] followers, [--] engagements

"With fam controlled self storage LP $LAACZ getting done at a 3.6% and multifam $BRG getting done sub [--] (+100% from when rumors surfaced) I hope Jameson Brown is at least thinking of selling $NEN. Price would be $200+ at a [--] cap (vs. $64 or so today)"
X Link 2021-12-20T16:36Z [----] followers, [--] engagements

"Went on a shopping spree for #REITs and #dividends today- bought: $AMT $ARE $ELS $EQIX 1st time buy in $HIW -starter position/just started studying $RADI and a bunch more $STOR - best of the #NNN bunch IMO"
X Link 2022-02-10T21:13Z [----] followers, [--] engagements

"@rhunterh Here are my #s (cap rates/NAV/per door) for the apartment #REITs I follow $UDR $MAA $ESS $CPT $MAA:"
X Link 2022-06-13T20:44Z [----] followers, [--] engagements

"The market has been punching me in the face daily for thinking/acting on this but the long-term fundamental risk/return on the apartment #REITs here is pretty incredible here IMO $AVB $CPT $MAA $ESS $EQR $AIRC $UDR $VNQ"
X Link 2023-10-04T17:45Z [----] followers, [----] engagements

"Buying some #REITs today. Bought a decent chunk of my fav net lease operator $STOR. Added some $HPP and $JBGS as well"
X Link 2022-01-20T20:48Z [----] followers, [--] engagements

"@RickPalaciosJr Homebuilding stocks have priced in a big slowdown (shares down 25-40%). Today I bought $KBH and $MHO which both sell at a discount to tangible book value (and P/E of 3x). The lack of inventory seems to be a meaningful difference vs. previous rate hike cycles"
X Link 2022-04-01T22:57Z [----] followers, [--] engagements

""You can have good news or you can have cheap stocks" -somebody wise a long time ago Picked up a little $KMX here - News flow likely to be negative for awhile but in LT should continue to gradually grow market share"
X Link 2022-10-19T19:18Z [----] followers, [--] engagements

"$ATUS - took a position in Altice USA. 9x EV/EBITDA 10x FCFE for an incredibly stable/economically resilient business with pricing power which should grow 3-5%. Putting pretty much ALL FCF into buybacks which are very accretive here. $CHTR $CMCSA $CABO $VZ $T"
X Link 2021-07-29T18:43Z [----] followers, [--] engagements

"$MAA maintains guide which I consider + news given sunbelt supply concerns. Occupancy&retention remain solid-benefitting renewal rates. New lease rates negative but slightly improved sequentially. @ midpoint of guide I've got at [---] cap. $CPT $NXRT $IRT $UDR #REITs #multifamily"
X Link 2024-05-01T23:01Z [----] followers, [----] engagements

"$UNP - Soroban proposing Hunter Harrison disciple Jim Vena to replace Fritz at UNP $CSX $CNI $NSC"
X Link 2023-02-27T00:26Z [----] followers, [----] engagements

"#REIT $VNQ selloff rising rates retailer $XRT weakness create opportunity in Shopping Center #REITs which benefit from WFH/suburban shift lack of new supply and portfolio rationalization #CRE $BRX $SITC $RPT $WSR $KRG $ROIC $REG $KIM $FRT $UBP $PECO https://www.privateeyecapital.com/stuff-i-post-on-twitter/ https://www.privateeyecapital.com/stuff-i-post-on-twitter/"
X Link 2023-05-30T11:32Z [----] followers, [----] engagements

"$EQR #reits #dividends so it was a SELL at $50 but is a hold at $72. Got it. Great work Zelman. $AVB $BXP $ESS $UDR $SPG $O https://www.themarketsdaily.com/2021/03/23/equity-residential-nyseeqr-upgraded-by-zelman-associates-to-hold.html https://www.themarketsdaily.com/2021/03/23/equity-residential-nyseeqr-upgraded-by-zelman-associates-to-hold.html"
X Link 2021-03-23T20:26Z [----] followers, [--] engagements

"Good #s from $CPT which at midpoint guides to 0% SS NOI growth for [--] (not much worse than coastal #REITs $EQR $AVB despite deluge of supply). Jan new leases (signed) showed acceleration vs. 4Q23. Occupancy steady at 95%. Turnover very low. $MAA $IRT $NXRT $UDR #multifamily $VNQ"
X Link 2024-02-01T21:30Z [----] followers, [----] engagements

"$KO promoting its #ESG cred illustrating that #ESG is a mindless box checking farce for retards. $PEP $MO $PEP Hold big sugar accountable for obesity/diabetes/surging healthcare costs - Take down big sugar like big tobacco #excisetaxes"
X Link 2023-02-13T01:34Z [----] followers, [----] engagements

"1/ $AIV $AIRC $CLPR $NEN $ELS $SUI $AMH $INVH $NXRT $CPT $IRT $MAA $BX $CSR $UDR $AVB $EQR $ESS $TLT #reits #dividends Apartments Apartment REITs & Inflation: [--] yr T has doubled since I started writing this about apartment REITs"
X Link 2021-02-26T13:24Z [----] followers, [--] engagements

"Key takeaways from $APO earnings/call: 1/Flows are solid-Athene had record quarterly inflows as rates rise. $13 of $25 bn has been raised for PE Fund X. Expect to raise the full $25. 2/Spreads have widened given the financial market dislocation - this will benefit s/hs.(1/n)"
X Link 2022-08-04T22:29Z [----] followers, [--] engagements

"Anyway I'm long $BTI and have been getting longer. Question for me is how long to be. As others @sinstockpapi have noted 15% returns are possible w/o multiple re-rating. Bought some LEAPs too. Also in case I haven't said this yet #FcuktheESGtards"
X Link 2021-09-18T13:57Z [----] followers, [--] engagements

"1/n With markets down 16% many things are being tax-loss sold. Anyway here are some small /low float things which have steadily ticked lower over the last couple weeks that I've been buying which could see a nice rebound as the calendar flips $ANGI $MAPS $PLCE $BRDG $TAST $NXTC"
X Link 2022-12-21T18:58Z [----] followers, [----] engagements

"Good stuff on $HHC. My Q is: When Ackman pitched this in [----] he cited Bren/Irvine Co as evidence that MPC biz is a phenomenal wealth generation machine. Thus far $HHC has not been. Any thoughts on why Irvine co was such a fantastic inv but $HHC has beenšŸ¤® @Mr_Neutral_Man Howard Hughes Corp $HHC is a two to four bagger sitting in plain sight. Today Bill Ackman is trying to squeeze out minority shareholders to keep all the upside to himself. I will get into the valuation shortly but first let me explain how Ackman is trying to screw us Howard Hughes Corp $HHC is a two to four bagger sitting in"
X Link 2022-10-28T21:40Z [----] followers, [--] engagements

"Howard Hughes Corp $HHC is a two to four bagger sitting in plain sight. Today Bill Ackman is trying to squeeze out minority shareholders to keep all the upside to himself. I will get into the valuation shortly but first let me explain how Ackman is trying to screw us"
X Link 2022-10-28T18:49Z 11.6K followers, [----] engagements

"$PSA paid $234/ft for Simply Storage $BREIT $BX National Storage Affiliates $NSA @ $150/ft $EXR $CUBE #REITs $VNQ #selfstorage"
X Link 2023-07-30T20:17Z [----] followers, [----] engagements

"I'll say this is a feature for low leverage #REITs with access to the corp bond market. Not gonna see many new starts over next 12-24 mos (mayb longer if govt adds new bank regulations). Lower new supply benefits existing assets. $EQR $ESS $AVB $MAA $CPT $UDR $VNQ $KRC $HIW $ARE Munger negative on bank CRE loans His point on tightened CRE lending seems more important than the CRE risks (which seem slightly overstated) https://t.co/oVFZU2k3I0 Munger negative on bank CRE loans His point on tightened CRE lending seems more important than the CRE risks (which seem slightly overstated)"
X Link 2023-04-30T20:39Z [----] followers, [----] engagements

"Munger negative on bank CRE loans His point on tightened CRE lending seems more important than the CRE risks (which seem slightly overstated) https://www.ft.com/content/da9f8230-2eb1-49c5-b63a-f1507936d01b https://www.ft.com/content/da9f8230-2eb1-49c5-b63a-f1507936d01b"
X Link 2023-04-30T16:25Z [----] followers, [----] engagements

"$BX - were $BREIT marked in-line w/ public #REITs Chilton estimates BREIT's true NAV would be -55% below 12/31/22 disclosed NAV. https://chiltonreit.com/2023/04/01/arbitrage-opportunity-available-in-public-reits-april-2023/ https://chiltonreit.com/2023/04/01/arbitrage-opportunity-available-in-public-reits-april-2023/"
X Link 2023-04-11T15:42Z [----] followers, [----] engagements

"Unsecured debt capital is available to the large cap apartment #REITs on reasonable terms (Mid America issues [--] yrs @ 5.1% YTM): $MAA $CPT $UDR $EQR $ESS $AVB $AIRC $NXRT $IRT $VNQ #multifamily $WD $CBRE $JLL $CWK https://ir.maac.com/news-events/press-releases/news-details/2024/MAA-Announces-Pricing-of-Senior-Unsecured-Notes-Offering/default.aspx Unsecured debt capital is available to the large cap apartment #REITs on reasonable terms (Camden issues [--] yrs @ 4.95% YTM): https://t.co/eBhWQcmtoD $CPT $MAA $UDR $EQR $ESS $AVB $AIRC $NXRT $IRT $VNQ #multifamily"
X Link 2024-01-04T23:21Z [----] followers, 15.7K engagements

"Unsecured debt capital is available to the large cap apartment #REITs on reasonable terms (Camden issues [--] yrs @ 4.95% YTM): $CPT $MAA $UDR $EQR $ESS $AVB $AIRC $NXRT $IRT $VNQ #multifamily https://investors.camdenliving.com/investors/news-events-presentations/news/news-details/2024/Camden-Property-Trust-Prices-400-Million-4.900-Senior-Unsecured-Notes-Due-2034/default.aspx https://investors.camdenliving.com/investors/news-events-presentations/news/news-details/2024/Camden-Property-Trust-Prices-400-Million-4.900-Senior-Unsecured-Notes-Due-2034/default.aspx"
X Link 2024-01-03T22:20Z [----] followers, 13.3K engagements

"Not loving my $RPT getting taken out by $KIM. Acquiring $RPT at an implied 8.2% cap rate; $KIM paying with shares trading at a 7% cap. #REITs $BRX $SITC $REG $FRT $WSR $PECO $KRG $ROIC $PECO $RPT https://t.co/jdZo20r0DW $RPT https://t.co/jdZo20r0DW"
X Link 2023-08-28T14:03Z [----] followers, 15.7K engagements

"$RPT https://seekingalpha.com/article/4607538-rpt-realty-reit-strong-leasing-trends-deeply-discounted-valuation-buy https://seekingalpha.com/article/4607538-rpt-realty-reit-strong-leasing-trends-deeply-discounted-valuation-buy"
X Link 2023-05-26T10:56Z [----] followers, [----] engagements

"Bought small positions in battered UK micocaps $KGH (law firm @ 4x EPS) and $MOTR (similar-ish to $KMX looks to be 5x normalized EPS). Anyone have any other UK small/microcap favorites trading at nonsensical valuations"
X Link 2023-07-03T18:20Z [----] followers, [----] engagements

"$BX $60 bn of dry REPE powder (and growing every day) on the prowl in public markets. While #NoSkinInTheGame #REIT-ards $C $MS $DB $PIPR trip over themselves to downgrade the #REITs which are already at big NAV discounts $EQR $CPT $MAA $KRC $HPP. I wonder what will happen next. "The best opportunities today are clearly in the public markets on the screen and that's where we're spending a lot of time." - Jon Gray Blackstone $BX "The best opportunities today are clearly in the public markets on the screen and that's where we're spending a lot of time." - Jon Gray Blackstone $BX"
X Link 2022-07-21T17:10Z [----] followers, [--] engagements

""The best opportunities today are clearly in the public markets on the screen and that's where we're spending a lot of time." - Jon Gray Blackstone $BX"
X Link 2022-07-21T15:34Z [----] followers, [---] engagements

"After bottoming at 7% earlier this year $STOR acquisition cap rates have improved to 7.5-7.7%. Similarly annual escalators are up from 1.7-1.8% to 2-2.5%. At just under 12x 2023e FFO $STOR is too cheap IMO. $O $ADC $WPC $NNN #REITs #dividends #triplenet #cre"
X Link 2022-08-04T18:06Z [----] followers, [--] engagements

"$SBUX call-disaster. Why not just include: "it's all macro/weather. we're doing a great job of managing the business. also our partners in stores are the best" in the release and call it a day I'm to holding b/c I think there's big margin opp here but we might need new mgmt"
X Link 2024-05-01T00:01Z [----] followers, [----] engagements

"3/n with annual escalator based on CPI vast majority is investment grade tenants i.e. $AMT $CLNX $CCI etc). Here is commentary from $APO CEO Mark Rowan on 4Q call re: scarcity of asset origination platforms:"
X Link 2022-04-12T23:13Z [----] followers, [--] engagements

"@sinstockpapi One of the things $MO benefitted from was a steady stream of FCF & persistent undervaluation due to 'tobacco taint'. This allowed them to consistently repurchase stock on the cheap (sometimes stupid cheap like 5-6x earnings and this is when they had Kraft and $PM biz)"
X Link 2021-07-31T02:54Z [----] followers, [--] engagements

"@AnyBodyCanFly Downside risk is ZERO NO you are wrong. Downside risk is 100%. Seems like many in the market today believe downside risk is zero. This INCREASES DOWNSIDE RISK"
X Link 2021-02-20T15:08Z [----] followers, [--] engagements

"2/2 largest competitor says 'business model doesn't work'. And it isn't like Z leaving changes competitive landscape much. [--] million homes sell in the US each year and $Z bought maybe 10k of them which is Nothing. Story for $OPEN is BIZ MODEL doesn't work NOT one less competitor"
X Link 2021-11-02T21:09Z [----] followers, [--] engagements

"@EllliotttB keep an eye on $BRMK - very low leverage mortgage REIT. almost all resi - hard money loans to small for-sale builders SFR and multi as well as some raw land. like 28% of their loans are in default"
X Link 2022-12-05T02:40Z [----] followers, [--] engagements

"CBRE Prime Cl A #multifamily underwriting survey for 3Q23 $CBRE $JLL $AIRC $AVB $CPT $ESS $EQR $MAA $UDR #REITs https://www.cbre.com/insights/briefs/higher-rates-push-up-prime-multifamily-cap-rates-in-q3 https://www.cbre.com/insights/briefs/higher-rates-push-up-prime-multifamily-cap-rates-in-q3"
X Link 2023-10-28T21:52Z [----] followers, [----] engagements

"Miss the apartment REIT run up New England Realty Associates LP ($NEN) trades at less than 1/3 of my estimated NAV. Boston area apartments at a big discount (7.1% cap rate on 2021e; 9% on 2022/23). $EQR $AVB $UDR $AIV $VNQ $CLPR #dividends #REITs $TLT https://www.privateeyecapital.com/another-cheap-publicly-traded-apartment/ https://www.privateeyecapital.com/another-cheap-publicly-traded-apartment/"
X Link 2020-11-16T13:46Z [----] followers, [--] engagements

"$MAA - strong earn-in + decent renewals expected to drive same-store NOI growth of 5.3-7.3% in [----]. $CPT expects something similar (+5%) at the midpoint. Much has been made of supply coming to the sunbelt this year but Class B is priced 20% lower and should do just fine"
X Link 2023-02-02T23:32Z [----] followers, [----] engagements

"UPDATE: I just learned all #REITs are value traps. I'm gonna dump em all tomorrow* $UDR $FR $MAA $SUI $CPT $ESS $EQR $VNQ $PLD $SITC $BX *not really @rhunterh I work in CRE and I would not buy a single REIT today. All value traps IMO. @rhunterh I work in CRE and I would not buy a single REIT today. All value traps IMO"
X Link 2024-05-08T02:06Z [----] followers, [----] engagements

"@rhunterh I work in CRE and I would not buy a single REIT today. All value traps IMO"
X Link 2024-05-08T00:33Z [----] followers, [----] engagements

"I remember thinking 'this is a great business' when I first used $Uber [--] yrs ago. Then I saw the financials in [----] and thought 'I can't believe it loses so much $$'. Now Uber's #s are starting to look as I initially expected. Yet it trades at 12x [--] FCF https://seekingalpha.com/article/4567282-uber-12-5x-2024e-fcf-significant-growth-ahead https://seekingalpha.com/article/4567282-uber-12-5x-2024e-fcf-significant-growth-ahead"
X Link 2023-01-02T12:07Z [----] followers, [----] engagements

"Despite Gray/Schwarzman continuously praising themselves on the 2Q call for delivering alpha $BX $BREITs sunbelt multifam did 16% SS NOI growth in 1H22 vs. 16%/17% @ $CPT / $MAA respectively. So. to be clear the difference in return came from. not being subject to the whims"
X Link 2022-07-28T22:46Z [----] followers, [--] engagements

"Mr. Market asks: Any interest in life sciences in the premier clusters (Bos SF SD) RE @ $850/ft There's almost no vacancy anywhere and it's going for way way more than that in the private market Me: Ok $ARE #reits #CRE"
X Link 2022-06-08T18:57Z [----] followers, [--] engagements

"$KRC - from conf call: tech hiring $QQQ $GOOG $FB $MSFT $AAPL $AMZN is on fire in California/Seattle. Lease tour activity back to pre-pandemic levels. Class A space rents holding better than expected. $BXP $ARE $HPP #reits $VNQ $VNO #dividends"
X Link 2021-04-29T17:39Z [----] followers, [--] engagements

"$EQR $ESS $AVB $VNQ - CA is not dead. Cities are not dead. EQR just sold a large urban San Diego property for 4.1% cap rate ($460k per door). #dividends #reits https://www.privateeyecapital.com/dont-believe-everything-that-youve-heard/ https://www.privateeyecapital.com/dont-believe-everything-that-youve-heard/"
X Link 2020-12-21T23:35Z [----] followers, [--] engagements

"1/n At $6.2/share Sportsmans Warehouse $SPWH is interesting-ish here. SPWH is trading 66% below $18 price at which Bass Pro/Cabela holding co Great Am Outdoors agreed to buy them in Feb [----]. $DKS $ASO $XRT $CAB $RGR $HIBB $SWBI $VSTO"
X Link 2023-04-19T20:27Z [----] followers, [----] engagements

"$KRC - management opportunistic on conversion opportunities of offices to life sciences in San Diego. Sounds like several deals with attractive economics are in the works. $VNQ $BXP #dividends"
X Link 2021-07-29T17:11Z [----] followers, [--] engagements

"1/n Pretty much all apartment #REITs are now at ATHs and sell for roughly NAV (assuming a [--] cap on [----] NOI). $NEN has missed the run. I've got it north of an [--] here. Factoring in leverage trades at 35% of NAV. Mgmt buying stock here https://www.otcmarkets.com/filing/htmlid=15208325&guid=Rx49kFZ6c36Ab3h https://www.otcmarkets.com/filing/htmlid=15208325&guid=Rx49kFZ6c36Ab3h"
X Link 2021-09-02T21:16Z [----] followers, [--] engagements

"Bought a bunch of $AIRC.24 SSNOI guide solid at +3.8%. Like others trends improved into Jan from 4Q23. [---] cap here. Buying back stock. More upside than most given higher (but still conservative leverage at 6.1x ND/EBITDA 35% LTV). #multifamily #REITs $EQR $AVB $UDR $CPT $MAA"
X Link 2024-02-09T14:46Z [----] followers, [----] engagements

"$APO surrender charges & market value adjustments make annuity liabilities much stickier than a 'deposit franchise' $FRC $SIVB $SBNY $CS $KBE $BAC"
X Link 2023-03-21T12:15Z [----] followers, [----] engagements

"$AIV $EQR $ESS $AVB $CPT $MAA $UDR $VNQ #reits #dividends yesterday it was disclosed that AIV received a buyout approach though there was no discussion of price. Today I take a look at what AIV/apartment REITs could be worth to private buyers. https://www.privateeyecapital.com/aiv-gets-approached-will-we-see-bids-for-other-apartment-reits/ https://www.privateeyecapital.com/aiv-gets-approached-will-we-see-bids-for-other-apartment-reits/"
X Link 2020-12-03T13:26Z [----] followers, [--] engagements

"Starwood's $SREIT is another rapidly growing private #REIT. Launched in [----] it now boasts nearly $24 bn in assets (raised $2 bn in new equity in 1Q). SREIT loves #multifamily #CRE even more than $BX's $BREIT with a 66% allocation: #REITs #privateREITs https://www.starwoodnav.reit/wp-content/uploads/2022/04/SREIT-Presentation-Q1-2022.pdf https://www.starwoodnav.reit/wp-content/uploads/2022/04/SREIT-Presentation-Q1-2022.pdf"
X Link 2022-06-08T11:37Z [----] followers, [--] engagements

"Some thoughts on opportunities in shares of economically resilient infrastructure assets with inflation protection: $AMT $CCI $SBAC $HTWS $HTWS.LN $RADI $VNQ $CLNX #reits https://www.privateeyecapital.com/other-things-ive-done-pt-2-towers/ https://www.privateeyecapital.com/other-things-ive-done-pt-2-towers/"
X Link 2022-04-06T12:38Z [----] followers, [--] engagements

"Soft guidance from Essex $ESS w/ [----] SSNOI expected at 3.6% (cash) /4.1% (str line). Expense growth looks high given 80% CA (Prop [--] limits prop tax g to 2%). $EQR $AVB $UDR #REITs $VNQ #dividends"
X Link 2023-02-07T21:45Z [----] followers, [----] engagements

"Interesting that low/no growth (0-2% OP CAGRs over past decade) large cap staples like $KO $CLX $WMT trade at 23-27x forward FCF while #multifamily #REITs $MAA $CPT (w/ 4-5% same store NOI growth over a decade) trade at just 17x FFO-recurring capex (FCF proxy). $XLP $VNQ Good #s from $CPT which at midpoint guides to 0% SS NOI growth for [--] (not much worse than coastal #REITs $EQR $AVB despite deluge of supply). Jan new leases (signed) showed acceleration vs. 4Q23. Occupancy steady at 95%. Turnover very low. $MAA $IRT $NXRT $UDR #multifamily $VNQ https://t.co/weL35D0k8I Good #s from $CPT which"
X Link 2024-02-02T14:01Z [----] followers, [----] engagements

"The point is that @GillianTan has tended to be right when reporting that RE companies are exploring a sale"
X Link 2022-05-07T19:40Z [----] followers, [--] engagements

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