動画公開日：2023-09-08 00:37:01
I expect 5 REITs to cut their dividend, possibly in 2023. Easterly Government Properties (DEA), Outfront Media (OUT), DIC Asset (DIC), Boston Properties (BXP), and Global Net Lease (GNL) have problems that could lead to a dividend cut. I explain why and highlight some better opportunities. Better stick to more consistent dividend payers like Realty Income (O)! You can access my entire REIT Portfolio by taking a 2-week free trial to my REIT newsletter, High Yield Landlord: https://seekingalpha.com/checkout?service_id=mp_1268
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DEA REIT has the following problems: its payout ratio is too high, its tenants are likely to ask for large TI packages as leases expire, its occupancy is likely to drop, its leverage is too high, and finally, the dividend is likely to be cut.
BXP REIT will have to heavily reinvest in its properties and the need for capex could lead to a dividend cut.
GNL REIT is poorly managed, suffers conflicts of interest, has too much debt, and its dividend payout ratios are too high.
DIC has too much leverage. As simple as that. A full dividend suspension is likely. It offers a similar opportunity as Vonovia (VNA) in Germany, but it is riskier and it is even more heavily discounted.
OUT REIT’s business is cyclical and it has too much leverage as well.
Image sources: NAREIT, YCHARTS, EPRA, DEA, BXP, GNL, DIC, OUT, Canva
Important Disclaimer: Leonberg Capital does not hold positions in the 5 REITs discussed in this article. This video is impersonal and does not provide individualized advice or recommendations for any specific person. Viewers/readers should not make any investment decision without conducting their own due diligence and consulting their financial advisor about their specific situation. This video is for entertainment purposes only and you are responsible for your own investment decisions. The information is obtained from sources believed to be reliable, but its accuracy cannot be guaranteed. The opinions expressed are those of the publisher and are subject to change without notice. This YouTube channel is managed by Leonberg Research OÜ, a subsidiary of Leonberg Capital OÜ.
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