#ffo turnover

[scumnoise]

gleemer | pressure

[themousai]

Q+A: LAULIA

Your new single ‘13/7’ just got released ahead of ‘Outcast Kids’ which luckily, we only have to wait until this Friday to hear when it’s officially available as a double A side vinyl through Rose Coloured Records. How are you feeling about having these songs out in the world? We couldn’t be more excited really. 13/7 was the first track that for us snowballed very quickly, Ollie sent me over a demo and I was instantly inspired, I finished writing my part that evening and ever since then we’ve been raring to get it out. If it were that simple, we would have released it that day if we could. We just wanted people to hear it. So now, having been sat on these tracks for a while whilst we organised promo, videos etc, it’s been like dangling sweets in front of a kid and telling them not to eat it. It’s been hard to keep things all to ourselves, so finally releasing the single is gonna definitely be a buzz for sure.

What made you put ‘13/7’ out first? 13/7 isn’t actually officially out yet, we just released it on Soundcloud for people to get a sneak preview of whats to come. This is purely because for us, we felt the music speaks for itself, and by giving people a preview of it, we hoped that that’d be all they’d need to feel the same excitement we do. It’s a powerful song, and I just think it says it all really. I don’t think we wanted any gimmicks or PR stunts, it was more just about sharing a track that we were insanely proud of and hoping that listeners would connect to it, and want to be a part of the release.

Do the two tracks have a similar idea or story behind them? Both tracks are about toxic relationships, but coming from very different angles. 13/7 is about monotony and habit within our relationships. We often feel it’s our responsibility to take care of the people we care about, but sometimes their self-destructive, co-dependent habits can really take a toll on our lives. 13/7 is about coming to terms with the fact that it is not our job to try and fix somebody who isn’t interested in fixing themselves, and that sometimes we must accept that taking care of ourselves is more important. This may mean stepping back or walking away from a relationship that we care about, but at times this is the best decision we could make for ourselves. / Outcast Kids relates to this, it’s a narrative about a very self-destructive & codependent relationship. The bond these 2 people share is extremely honest, and pure. The pair are inseparable, bound by their flaws. They both have extremely self destructive tendencies, but find comfort in knowing that the other is doing the same. It almost gives them reassurance and helps them justify the negative choices they are making. Essentially, the relationship is doomed with this dynamic as they are constantly feeding off each other, but being the destructive people they are - that’s what they love about it. 

What do you hope people feel when listening to these new songs? For me, music is about connection. These tracks are an expression of how we feel, musically and lyrically, and so however people choose to see themselves in these songs is up to them. If they connect with the stories and the lyrics, or just vibe with the music and wanna jam out with us, that’s all we want. For people to connect and feel whatever they choose to. Music is so subjective, and people enjoy listening to music in different ways. We don’t want anyone to feel 1 particular thing, but to feel a part of something and see themselves in what we’re creating. Our listeners are as much of a part of our music as we are. Having signed to Rose Coloured Records for the release of the Double A Side Vinyl, can you tell us a little about how this experience has gone compared to when you independently released your ‘Burning Out’ 7″ earlier this year? Andy from Rose Coloured Records has always been a good friend, and supporter of the band. We love what he’s doing for new bands/artists and always wanted to work together with him on a release. Joining forces to make 13/7 / Outcast Kids a reality felt like the right step forwards for us, we love working with new people and this whole experience has been something totally different from what we’re used to. It’s nice to have some guidance, and whilst we’ve still maintained control of our creative output, having some support with the PR, planning and distribution side of things has made a huge difference. We’re all extremely grateful to Andy for his hard work and support, as a genuine music fan, his intentions are nothing but what you’d want from a label. We’re lucky to have him on our side.

Do you write more often from a third person perspective or from personal experience? Why do you think you lean more towards one than the other? I don’t usually write with an intention, my writing is almost always an expression of my emotions. I often feel a certain way, or have experienced something that’s left a sour taste, and writing is my way of processing and dealing with it. There’s nothing more therapeutic than shouting about how you feel from the top of your lungs, or turning pain into something beautiful. There are times though, when my mind goes into overdrive, and I get inspiration purely from my imagination. Stories, ideas or things I have witnessed turn into narratives and I love running with those ideas, but I would never confine myself to writing a particular way or about a certain topic, it’s an expression and I think containing that achieves the exact opposite of what it’s meant to.

What are your musical influences like? Do you each bring very different ideas to the table when writing or are you quite similar in this aspect? We all take inspiration from different music, having been shaped by different bands/artists as we’ve developed our personal love for music, this is why our songwriting process is so interesting - we draw inspiration from different genres and styles and sorta merge it to create our own. Of course we have mutual loves, and our inspirations cross over a lot (I mean, that’s why we’re in a band together), but we’re all very individual in what drives us, and that’s where I think our sound comes from. 

You were included in Blood Records ‘Girls Against’ compilation last year in the great company of Courtney Barnett, Dream Wife, PINS and many more - how did you feel when you found out about that? Do you think it helped put your music out to a wider range of listeners? It was crazy, especially since the opportunity came to us so early on, we’d barely been a band for longer than a few months so it was very surreal. Being a part of a record alongside bands/artists that we all admired was like a massive wake up call, it sorta gave us an insight into what we could achieve with this band and the potential that it had. Knowing that our music could exist alongside names like that, I think was the catalyst for us, we just wanted to go full speed ahead from that point on. It also sorta laid some groundwork for us, we were introduced to fans of the exact kind of music we were looking to produce, whilst supporting a cause that we so heavily believed in, so yeah it was a total blessing - we couldn’t be more grateful. 

Ahead of your release show in London, what should we be expecting from your live set? Performing live is easily my favourite part about being in this band. The stage is our home, and we feel comfiest up there. It gives us the chance to fully immerse ourselves in what we’re creating, and there’s no other feeling like it. Our set is filled with highs and lows, expect ethereal moments of emptiness, followed by immense soundscapes, grungy riffs and lots of throwing ourselves about & hair flicking haha. 

Lastly, what does LAULIA have in the works for the future? The coming months are gonna be pretty crazy for us I think. Once we’ve come out the other end of celebrating this release, we wanna get straight onto working towards another record. The next step for us is putting out an EP, we’d love something that really introduces us to the world and shows everyone what we’re really about as a band. We’re still very new and we’re still kind of shaking the hands of everyone at the moment. The next coming months I think we really want to start breaking the ice within the industry, and with our supporters as well. We want people to know who we are and what were about, and feel a part of that. So plenty of shows, tours, and connecting with people is what we want to work towards. That and getting an EP out are our main focuses. Oh, and Glastonbury of course.

Stream 13/7 / Outcast Kids on Spotify and Apple Music now and be sure to purchase the Double A Side 7″ Vinyl here!

Quick Fire:

The one song I wish I wrote is... Lauren: Hmmm, either ‘Formidable Cool’  by Wolf Alice or ‘No Care’ by Daughter. Ollie: ‘She Changes The Weather’ by Swim Deep. Harry: ‘Jet’ by Wings. Kurt: ‘Electric Feel’ by MGMT.

Three things I can’t live without are... Lauren: Yoga, laughter, and obviously hummus with pitta. Ollie: Garlic, Electroharmonix Memory Man & Rome total war. Kurt: Lucky charms, Dr Pepper, Drums. Harry: Ginger tea, Labradors, Sports Socks.

Phones out, or phones away if you're watching a band live... Lauren: Phones away always, gotta live in the moment. Harry & Kurt: Ditto. Ollie: Depends if they’re good or not.

Three adjectives that describe my life are... Lauren: Hectic, Fulfilling, Vibrant. Ollie: Umami, Comfortable & Accelerating. Harry: Cosy, Wholesome, Exciting.  Kurt: Organised, Busy & Energetic.

If I held a world record it would be for... Lauren: Fastest person to finish a bottle of wine. Ollie: Most words incorrectly spelled in a single message. Harry: Most unimpressed facial expressions made in one day. Kurt: Longest time to answer a quick fire question.. Still waiting.

My first memory of loving music is... Lauren: Dancing to MTV as a 2/3 year old and stealing every dance floor I could no matter where my parents took me. Ollie: Playing ‘Parklife’ on repeat whilst bouncing on my sisters bed at the age of 5. Harry: Listening to style council records in my uncle’s kitchen. Kurt: Trying to play along to the radio on my dads suitcase with sticks that I found.

The song of mine that I am the proudest of is… Lauren: Bloody Knees or 13/7, both for very different reasons. Ollie: Wide Eyes. Harry: Gloe. Kurt: The Collectors.

My favourite venue I've ever played is… Lauren: The Facebar in Reading. Ollie: BLove because I loved playing a huge stage, and my mum came along. Kurt: The Boileroom. Harry: The New Cross Inn.

The ideal environment for me to create music in is… Lauren: Whilst I would love it to be on a scenic beach or waterfall somewhere, it tends to be alone in my bedroom. Kurt: My home studio. Harry: My shed. Ollie: With my pedal board and people I trust.

If I could tour with any two bands, they would be… Lauren: Idles (easily my favourite band to see live), and Cherry Glazerr. Ollie: Pulled Apart by Horses and S club 7. Harry: Gurr and Queens of The Stone Age. Kurt: Marmozets and Foals.  

Follow LAULIA on Social Media!

FACEBOOK | SPOTIFY | TWITTER | INSTAGRAM

Interview by Scarlett Dellow, photo by Fraser H-N

[liottaseoul-blog]

Our album is out now for a few days! Get it here: http://smarturl.it/liottaseoul

[dreamhazeband]

would anyone order these bad boys??? thinkin about throwing em up online for purchase! lemme know

DREAM HAZE

ffo: title fight, turnover, joyce manor, tssf you know

https://open.spotify.com/track/1OiPdNUmVrmZ3ugDTKdFrF?si=GDi6K_MOSKmA6bQXyPH8Jg

[rainydawgradioblog]

RDR Essentials – Pop/Electronic (11/18)

RDR Essentials is a weekly newsletter of alternating genres that outlines key releases of the past month, upcoming events around Seattle and happenings in the specified music genre.

Made in collaboration between Rainy Dawg DJs and the Music Director.

Releases

FKA Twigs – MAGDALENE

After four intense years containing heartbreak, a life-threatening disease, and sudden tabloid fame, FKA Twigs is back with her magnum opus. Magdalene is an exposition of Twigs’ vulnerability and raw emotion. With her unmatched lyricism and haunting voice, Twigs details her journey and eventual triumph through the pain and sorrow that plagued the last four years of her life. Attaching herself to the story of Mary Magdalene, Twigs lashes out at society’s overbearing expectations of women. On “Fallen Alien”, Twigs admonishes a lover with a tone so harsh you can feel her anger and despair. On “Daybed” Twigs sings about masturbation as if it were a religious experience. Your heart will skip a beat when Twigs croons “Lower is my ceiling, pressing are my feelings” as the production begins to swirl around you. Finally, on the album highlight “Cellophane” (which is also one of the top highlights of 2019), Twigs makes every hair on your body stand as her voice pierces your soul, forcing you to feel her emotions. Magdalene is a masterpiece from front to back and deserves your attention.

FFO – Kelsey Lu, Kelela, Grimes

- Jackson Fennell

Caroline Polachek – PANG

On the first album under her name, Caroline Polachek creates a world full of enchantment and emotion. In an interview with Pitchfork, she explains that Pang was inspired by Disney movies, Magic: The Gathering, PC Music, and more. Throughout Pang, Polachek, along with executive producer Danny L Harle, combines traditional instrumentals with slight electronic twinges to keep you on your toes and pull at your heart strings. “New Normal” begins with twangy instrumental, complete with guitar strums, until a loud synth pierces the song and sets the stage for the unpredictability to come. On the fantastic “Hit Me Where It Hurts” Polachek sings about a taxing relationship, employing ingenious imagery such as “a butterfly tapped inside a plane” to illustrate her resulting anxiety. Later, on another highlight: “Caroline Shut Up”, Polachek begs herself to ignore her anxiety toward falling in love in order to appreciate her relationship. Pang explores the many facets of Polachek’s world and successfully utilizes captivating melodies, production, and lyrics along the way.

FFO – Chairlift, HAIM, A.G. Cook

- Jackson Fennell

Vegyn – Only Diamonds Cut Diamonds

Coming into the public view on the album credits of Blonde by Frank Ocean, Vegyn set a high expectation for fans of R&B right out the gate. On Only Diamonds Cut Diamonds Vegyn subverts this expectation with 16 hazy, electronic tracks. Save for “Nauseous/Devilish”, which features a fantastic appearance from JPEGMAFIA, the songs on the album are mainly ambient and filled with airy synths and playful melodies. On “That Ain’t No Dang Cat!” synths bubble cutely while distorted voices occasionally yell in the background creating a captivating dichotomy. On “It’s Nice To Be Alive” the synths are back, this time accompanied by a snare beat, lifting you into the air like a soft cloud. Random samples go in and out of each song throughout Only Diamonds Cut Diamonds creating a unique atmosphere reminiscent of UK garage. Overall the album embodies a remarkable combination of classic ambient music, garage, and late 2010’s bedroom pop that warrants a listen.

FFO: Aphex Twin, Yaeji, Flying Lotus

- Jackson Fennell

Upcoming Releases:

~ 11/22 Hannah Diamond – Reflections

~ 11/22 Chemical Brothers – Surrender (20th anniversary edition)

~ 12/6 Burial – Tunes 2011-2019

~ 12/13 Fever Ray – Plunge Remix

~ 1/10 Georgia – Seeking Thrills

Events:

11/21: Haused: Catz n’ Dogz @ Kremwerk

9PM / 21+ / $13.44

11/29: Eevee / Stonemist / Human Error @ the Timbre Room

6:30PM / 21+ / $15

11/30: Men I Trust / Turnover / Renata Zeiguer @ The Neptune

7PM / AA / $23.50

12/7: Conan Gray @ Showbox Sodo

8PM / AA / $32.50

1/4: Cashmere Cat @ Showbox

9PM / 18+ / $25

[thejamzine-blog]

NOT ANOTHER GENRE CHANGE!

Title Fight frontman follows another trend with bedroom pop solo project Glitterer.

FFO: Title Fight, Wicca Phase Springs Eternal, Porches

In 2009, as suburban kids that grew up in the mainstream pop-punk heyday of Blink-182 and Green Day came of age in music scenes driven by hardcore and metal, Title Fight’s The Last Thing You Forget felt like a small revelation. There was an armada of teenagers ready to be punk but not that punk and Title Fight’s blend of hardcore speed, angst, and style (bassist/vocalist Ned Russin has even featured his hardcore t-shirt collection on GQ) with the simple melodic sense and youthful lyrical focuses of pop-punk was a perfect appeal. Much less violence, much more understable vocals.

Quickly reaching the forefront of that emerging hardcore/pop-punk scene, Title Fight became the band that switched genres. As music blogs debated on the correct terms for the “emo revival” and record labels like Topshelf and Count Your Lucky Stars flourished, Title Fight’s 2012 emo-endeavor Floral Green embraced greater dissonance, slowed-down burners, and the totally-not-hardcore “Head In The Ceiling Fan.” Hardcore kids loved it and the whole scene seemed to follow--see Citizen’s Youth (the title is written in flowers on the cover) and Turnover’s Magnolia (are you catching the flower trend yet?). From there, 2015 saw the Kingston, PA quartet stretching into shoegaze. With fuzzy acts like Pity Sex gaining punk popularity and a slew of shoegaze classics reuniting in the wake of My Bloody Valentine’s first album in more than 20 years, Hyperview sulked in with mumbled vocals and wobbling chorus effect guitars, even featuring a couple moody ballads. While not as nimble as Floral Green, the band’s fourth album was a decisive, albeit controversial, step into the now trendy shoegaze revival. Once again right on time, everyone in that scene seemed to follow, if a little quicker: Turnover’s Peripheral Vision came out three months later and Citizen’s Everybody Is Going To Heaven appeared four months later. With skill and speed, Title Fight follows hip punk genres just ahead of the curve while hip punk kids gleefully tag along.

In Ned Russin’s new solo project, Glitterer, he has once again abandoned his past sound. For what? Bedroom pop. On the eight track self-titled debut, Russin buries his vocals in lo-fi drum machines and cheap-sounding synths, his bass remains present as well. None of the tracks breach two minutes, the lyrics run through a few lines before repeating the hook till the end, and it’s all packaged in a homemade aesthetic. It’s down to a science bedroom pop. But bedroom pop has never been a science and it’s unclear why the hardcore-worshipping, emo-tilted Russin should be the one to define it. The genre has thus far been loosely specified, connected mainly by similar creative sensibilities that value intimacy, homemade creations, and everyday beauty, but Russin’s Glitterer might be the Rosetta Stone to point out all of bedroom pop’s stereotypes; this project is like the missing line that completes the formula. The childlike, twee name is one thing, the album cover is another. Practically a rote copy of Porches’ style, Glitterer features handmade modernist-style art surrounded by a plain border with the name--again, Glitterer?!--centered above. Remind you of anything? Hmm? The center artwork’s style is remarkably similar to that of Florist or Frankie Cosmos (most artists who’ve held affiliations with the Double Double Whammy record label, really). It’s colorful, yet plain, with a dominant hue in a fairly monochromatic background. Musically, the Porches influence is even clearer though. Glitterer could be a tribute album the way it mirrors Porches’ lo-fi simplification of dance-pop style.

Glitterer by Glitterer

Russin remains starkly committed to his interpretation of the bedroom pop aesthetic with Glitterer, more so than the occasionally hesitant shoegaze adventures on Hyperview that still smelled of hardcore and emo. He keeps the production simple, the lyrics aren’t over thought, and his contemporaries are clear. However, Title Fight, though never quite the first innovator, usually manages to embed some originality in each style it attempts, synthesizing tropes of the current trends effectively. Glitterer does more tropes than originality. You can easily imagine Russin hearing Frankie Cosmos “Sand” for the first time, playing it on repeat, and pumping out “Self Portrait.” The song lengths are even an eerie two seconds apart, which is notable given that they’re both sub-50 seconds. But for the best bedroom pop acts, these elements are used with purpose. “Sand” captures a moment. The song is brief, the lyrics are strikingly commonplace, and then it ends. And then we play it over and over again, because we love the song, because we want to relive that moment. “Self Portrait,” on the other hand, merely summarizes the bedroom pop agenda as Russin sees it, a shell of what the creative movement is: photos taken on phones, making music alone, “then you’ll be like no one else.”

More than anything, Glitterer sounds like an enthusiastic fan of the many great things happening in the bedroom pop world. It’s likeable and well-intentioned but a little overeager with a bit too much reliance on its influences. Russin’s history with the genre-shifting Title Fight makes it kind of uncomfortable. The band was at the forefront of several recent musical trends in punk music, but were they imitating as much as Glitterer and merely catching on quicker? Title Fight was often one of the first to do it great, but plenty fiddled with similar ideas before them. This time, Russin seems to have fallen behind the curve with plenty doing it great ahead of him. If you’re a fan of bedroom pop, your time is likely better spent on those greats or plenty of lesser-known acts that hold similar artistic and aesthetic values. At the end of the day, Glitterer will appeal most to one specific audience: Title Fight fans. —CC

TOP TRACKS: “Little Song,” “Self Portrait”

[unlitbones]

Subtlety Official Music Video - Track 2 off of my upcoming Debut album, lights forever, which releases 21/03/2019 on ALL PLATFORMS. I can’t wait :-)  FFO Tame Impala, Mac Demarco, Turnover, Citizen, Synth Pop, Acoustics, Ambience etc. etc.  . LYRICS

i don't mean no disrespect but i need to get this off my chest i don't need encouragement to find happiness, no you probably think 'happy' is this fucked up term kids dream of i'm not saying you're wrong but it'd help us if you had some kind of subtlety . LISTEN TO MY MUSIC UB's Spotify: https://artists.spotify.com/c/artist/... UB's Bandcamp: https://unlitbones.bandcamp.com/ UB's Soundcloud: https://soundcloud.com/unlitbones  OTHER LINKS TO CHECK OUT UB's Facebook: https://www.facebook.com/unlitbones/ (join the) UB Family: https://www.facebook.com/groups/12135... UB's Twitter: https://twitter.com/unlit_bones UB's Instagram: https://www.instagram.com/unlit_bones/ Snapchat: unlit_bones

[t3hrecords]

Stoked to bring you the new music video for "Minco" from Fossil Youth's new album "A Glimpse Of Self Joy".

FFO: Turnover, Citizen, Taking Back Sunday

Vinyl/CS/CD - http://bit.ly/AGOSJ iTunes - http://bit.ly/iTunesAGOSJ Spotify - http://bit.ly/SpotifyAGOSJ

[errorrecords]

KRELBOYNE - GHOST OF AN EMPIRE (ER030) CD / DIGI Error Records is pleased to announce the release of the new Krelboyne EP on CD & Digital formats 02.03.17. The midwestern emo-pop / post-hardcore crossover express their everyday life hardships through the nineteen minute EP, Ghost of an Empire. The four tracks strangely flow with ease from gut wrenching harsh screaming to catchy clean vocals throughout. The juxtaposition of the dual vocal style parallels with the unsettling lyrical content about love, pain, and bodies in freezers. Krelboyne's instrumentation follows the same winding ebb and flow of emotion - from indie rock stylings to touchings of screamo intensity. It’s an understatement to say they've fallen in love with being uncomfortable, as this is their darkest and most heartfelt work to date. Ghost of an Empire is a journey of self-expression that you’re going to want to take repeatedly. FFO: #BrandNew, #Citizen, #Turnover Track listing: 1) Life and Limb 2) The Beauty of Not Feeling Anything 3) Cloak and Dagger 4) Beguiler Pre-order link in bio! Cassettes through Sonic Dust Records. Release date February 3, 2017. #krelboyne #ghostofanempire #emo #poppunk #posthardcore #errorrecords

[liottaseoul-blog]

Mothers and fathers, sons and daughters! Check out our new single „Counting Birthmarks (Umbilical)“ via Stageload.

You can buy the song on cassette which features another song that is exclusive to the cassette release and a remix of „Quite, Quiet“ by our buddy TESTAROSAH.

[dreamhazeband]

DREAM HAZE

FFO: CITIZEN, TURNOVER, TSSF, JOYCE MANOR

https://open.spotify.com/track/73uF0p33soZOmQomXGGKBd?si=TFqslB9KSZGRJjufWEx7MQ

[lovehvm70]

Terms Beginning With 'F' 1913 Federal Reserve Act FAANG Stocks Face Value Facility Factor Factor Investing Factor Market Factors of Production FactSet Facultative Reinsurance Fail Fair Credit Billing Act (FCBA) Fair Credit Reporting Act (FCRA) Fair Debt Collection Practices Act (FDCPA) Fair Labor Standards Act Fair Market Value (FMV) Fair Value Fallen Angel Falling Knife Fama and French Three Factor Model Family and Medical Leave Act (FMLA) Family Limited Partnership (FLP) Family Offices FANG Stocks Farmers Home Administration (FmHA) Fast Fashion Fast-Moving Consumer Goods (FMCG) FDIC Insured Account Fear and Greed Index Fed Balance Sheet Federal Agencies Federal Communications Commission (FCC) Federal Deposit Insurance Corporation (FDIC) Federal Direct Loan Program Federal Discount Rate Federal Funds Federal Funds Rate Federal Home Loan Bank System (FHLB) Federal Housing Administration (FHA) Federal Housing Administration Loan Federal Income Federal Insurance Contributions Act (FICA) Federal Open Market Committee (FOMC) Federal Open Market Committee Meeting (FOMC Meeting) Federal Poverty Level (FPL) Federal Reserve Bank Federal Reserve Board (FRB) Federal Reserve System (FRS) Federal Trade Commission (FTC) Federal Unemployment Tax Act (FUTA) Feasibility Study Fee Feed-In Tariff (FIT) Feeder Fund FHA 203(k) Loan Fiat Money Fibonacci Extensions Fibonacci Numbers and Lines Fibonacci Retracement FICO Score Fidelity Bond Fiduciary Filing Status Fill Or Kill (FOK) Finance Financial Account Financial Accounting Financial Accounting Standards Board (FASB) Financial Advisor Financial Analysis Financial Asset Finance Charge Financial Crisis Financial Distress Financial Economics Financial Engineering Financial Exposure Financial Guarantee Financial Health Financial Inclusion Financial Independence, Retire Early (FIRE) Financial Industry Regulatory Authority (FINRA) Financial Information Exchange (FIX) Financial Institution (FI) Financial Instrument Financial Intermediary Financial Literacy Financial Market Financial Modeling Financial Performance Financial Plan Financial Planner Financial Risk Financial Risk Manager (FRM) Financial Sector Financial Statement Analysis Financial Statements Financial Structure Financial System Financial Technology (Fintech) Financial Times Stock Exchange Group (FTSE) Financing Finder's Fee FINRA BrokerCheck Fire Insurance Firm First In, First Out (FIFO) First Mortgage First Mover First Notice of Loss (FNOL) First World Fiscal Deficit Fiscal Multiplier Fiscal Policy Fiscal Year (FY) Fiscal Year-End Fisher Effect Fisher Transform Indicator Fitch Ratings Five Cs of Credit Five-Year Rule Fixed Annuity Fixed Asset Fixed Asset Turnover Ratio Fixed Capital Fixed-Charge Coverage Ratio Fixed Cost Fixed Exchange Rate Fixed Income Fixed Income Clearing Corporation (FICC) Fixed-Income Security Fixed Interest Rate Fixed-Rate Mortgage Fixed-Rate Payment Flat Flat Tax Flat Yield Curve Flexible Manufacturing Systems (FMS) Flexible Spending Account (FSA) Flip Float Floating Charge Floating Exchange Rate Floating Interest Rate Floating Rate Fund Floating Rate Note (FRN) Floating Stock Floor Area Ratio (FAR) Floor Trader (FT) Flotation Flotation Cost Flow of Funds (FOF) Flow-Through Entity Folio Number Follow-On Offering Follow On Public Offer (FPO) Food And Drug Administration (FDA) Footnotes to the Financial Statements For Sale By Owner (FSBO) Forbearance Force Majeure Forecasting Foreclosure Foregone Earnings Foreign Account Tax Compliance Act (FATCA) Foreign Aid Foreign Corrupt Practices Act Foreign Currency Convertible Bond (FCCB) Foreign Currency Swap Foreign Direct Investment (FDI) Foreign Earned Income Exclusion Foreign Exchange Foreign Exchange Reserves Foreign Exchange Risk Foreign Institutional Investor (FII) Foreign Investment Foreign Portfolio Investment (FPI) Foreign Tax Credit Forensic Accounting Forensic Audit Forex (FX) Forfaiting Forfeited Share Form 3 Form 4 Form 144 Form 1040X Form 1045 Form 1065 Form 1095-A Form 1095-B Form 1095-C Form 1098 Form 1099-B Form 1099-DIV Form 1099-INT Form 1099-MISC Form 1099-R Form 1099-Q Form 1120S Form 1310 Form 13F (SEC) Form 2106: Employee Business Expenses Form 2106-EZ: Unreimbursed Employee Business Expenses Form 2439 Form 2848 Form 4506: Request for Copy of Tax Return Form 4562 Form 4684 Form 4797 Form 4952 Form 5405 Form 6251 Form 6252 Form 6781 Form 706 Form 8283 Form 8379 Form 8396 Form 843 Form 8606 Form 8949 Form ADV Fortune 100 Fortune 500 Forward Contract Forward Dividend Yield Forward Exchange Contract Forward Integration Forward Market Forward Points Forward Premium Forward Price Forward Price-To-Earnings (Forward P/E) Forward Rate Forward Rate Agreement (FRA) Four Asian Tigers Four Percent Rule Four Ps Fourth World Fractal Indicator Fractional Reserve Banking Fractional Share Franchise Franchise Tax Franchisee Franked Dividend Fraud Freddie Mac Free Carrier (FCA) Free Cash Flow (FCF) Free Cash Flow to Equity (FCFE) Free Cash Flow to the Firm (FCFF) Free Cash Flow Yield Free Enterprise Free-Float Methodology Free Look Period Free Market Free On Board (FOB) Free Rider Problem Free Trade Free Trade Area Freemium Frequency Distribution Freudian Motivation Theory Frictional Unemployment Friedrich Engels Friedrich Hayek Fringe Benefits Front-End Debt-to-Income Ratio (DTI) Front-End Load Front Office Front-Running Full Costing Full Disclosure Full Employment Full Ratchet Fully Amortizing Payment Fully Diluted Shares Fully Vested Functional Currency Functional Obsolescence Fund Fund Flow Fund Manager Fund of Funds (FOF) Fundamental Analysis Fundamentals Funded Debt Funds From Operations (FFO) Funds Transfer Pricing (FTP) Fungibility Furniture, Fixtures, and Equipment (FF&E) Future Value (FV) Future Value of an Annuity Futures Futures Commission Merchant (FCM) Futures Contract Futures Market More Terms "Your imagination is our reality" "Your dream becomes reality with us" - AKAL HATI Technology -

[awesomecolorfulcollectorwombat]

The Healthiest Healthcare REITs

New Post has been published on http://tradewithoutfear.com/the-healthiest-healthcare-reits/

The Healthiest Healthcare REITs

The U.S. Census Bureau categorizes Baby Boomers as individuals born between 1946 and 1964, and the effects of having to care for such a large group will be felt in many areas.

By 2029, when the last round of Boomers reaches retirement age, the number of Americans 65 or older will climb to more than 71 million, up from about 41 million in 2011, a 73 percent increase, according to Census Bureau estimates.

As Ventas CEO Debra Cafaro points out, “we know that the silver wave of the over 75 population will experience a net gain of 70 million individuals between 2020 and 2035, boarding well for our business and giving us confidence in the future while we manage through current operating condition.”

According to CBRE’s 2018 U.S. Real Estate Market Outlook, the aging U.S. population will be a significant tailwind for medical office demand in the years ahead.

“We expect demand for medical office buildings to grow, fueled by a shift away from the delivery of patient services on hospital campuses, the adoption of new technology, the aging population, healthcare job growth, tight market conditions and the relative recession-resistance of these properties,” said Andrea Cross, Americas head of office research, CBRE.

The medical office market has performed well in recent years, registering a lower peak vacancy rate than traditional office properties during the 2008 recession and showing a steady decline in vacancy during the recovery. Net absorption has outpaced new supply in 24 of the past 29 quarters, with particularly large imbalances since 2015.

Gross asking rents have been stable, reflecting consistent user demand and long lease terms that limit tenant turnover. New medical space completions have also been low relative to pre-recession levels, and the amount of space under construction has decreased slightly from the Q2 2016 peak. Chris Bodnar, vice chairman, Healthcare, CBRE Capital Markets, explains:

“Investment trends reflect strong medical-office market fundamentals and a broadening pool of interested investors. While uncertainty about healthcare policy poses a risk to the medical office market, favorable demographic trends point to continued strong healthcare demand, regardless of any policy changes.”

The core business of healthcare is inherently driven by demand for patient care, providing a stable foundation to support investment in the sector. The need for more facilities and services to manage the chronic illnesses of this aging population will be a major driver for growth.

Despite the controversy around these and future changes to reimbursement, healthcare is a required service that will continue to need real estate assets, and REITs provide an excellent vehicle for healthcare providers to become more efficient by partnering with “healthy” capitalized companies.

(Photo Source)

The Healthiest Healthcare REITs

So, shoulders back, chin up, deep breath… here’s a handful of hearty and healthy healthcare REITs:

HEALTHY HEALTHCARE REIT #1: Ventas Inc. (NYSE:VTR)

The Big WHY: Champion, diversified healthcare REIT with deliberately constructed portfolio of more than 1,200 assets

Feathers in its Cap: Focused on high-quality real estate well located in attractive markets (with high barriers to entry). Partners with top operators in each asset class – sector leaders, well-positioned for growth. Properties in U.S., Canada, United Kingdom. Portfolio: Senior Housing 62%, Medical Office 20%, Life Science 7%, Health Systems 5%, IRFs/LTACs 2%, Skilled Nursing 1%.

Downsides: Though skilled nursing triple net is 1% of NOI, VTR experienced continued decline in Genesis’s (NYSE:GEN) performance given ongoing industry SNF headwinds.

Performance YTD: 1.2%.

Alpha Insider Management Update: The company’s investments across the healthcare real estate spectrum provide sustainable, growing cash flow during strong economic cycles and resilience during downturns.

Bottom Line: VTR has the absolutely best credit profile and balance sheet. Its net debt-to-EBITDA ratio now stands at an excellent 5.3x and debt-to-assets is also robust at 36%. Substantial dry powder ($3.1 billion on credit facility) for any M&A. Successful history of dividend performance, and growth profile, current yield 5.38%. Payout ratio 78% on FFO. STRONG BUY (as in “buy, and hold onto this one!”)

HEALTHY HEALTHCARE REIT #2: LTC Properties, Inc. (NYSE:LTC)

The Big WHY: Triple net leases primarily in senior housing and healthcare properties via joint ventures, sale-leaseback transactions, mortgage financing, preferred equity, mezzanine lending.

Feathers in its Cap: In business over 25 years. Enterprise value as of June 30 over $2.1 billion. Holds 199 investments in nearly balanced capital allocation: assisted living communities (102, includes independent living & memory care communities), skilled nursing centers (96), and behavioral healthcare hospital. Located in 28 states. Funds From Operations (FFO): $29.6 million for Q2-18, compared with $31.4 million Q2-17 (per diluted common share $0.75 and $0.79).

Downsides: Decreases in Q2-18 results mostly due to defaulted master lease on cash basis in third quarter 2017 and reduction in rental income related to properties sold the past year.

Performance YTD: 6.2%.

Alpha Insider Management Update: Sold portfolio of six assisted living and memory care communities at a net gain of $48.3 million. Completed acquisition of two memory care communities in Texas for $25.2 million with 10-year master lease and 7.25% initial cash yield. Entered into partnership for properties in Medford, OR, and opened new facility in Illinois. New unsecured credit agreement has the opportunity to increase to $1.0 billion.

Bottom Line: Rated as a STRONG BUY. Dividend payout ratio of 76%, yielding 5.09%.

HEALTHY HEALTHCARE REIT #3: Healthcare Trust of America, Inc. (NYSE:HTA)

The Big WHY: Largest dedicated owner and operator of 450 medical office buildings (MOBs) in the U.S. (33 states), across more than 24 million square feet. Over $7 billion invested.

Feathers in its Cap: Provides real estate infrastructure for integrated delivery of healthcare services in highly desirable locations, targeted to build critical mass in 20-25 leading gateway markets generally with leading university and medical institutions, to support a strong, long-term demand for quality medical office space. Q2-18 FFO increased 55.8% to $84.4 million (Q2-17 comparison), or per diluted share +33.3%, to $0.40. During Q2-18, new and renewed leases on approximately 1.0 million square feet (4.2% of portfolio). Tenant retention rate of 86%. Occupancy rate of 90.9%. The company just increased its dividend by 1.6% (payable October 5).

Downsides: MOB is out of favor with institutions, yet sector rotation can provide attractive opportunities for intelligent REIT investors.

Performance YTD: -1.0%.

Alpha Insider Management Update: (“BBB” balance sheet) Announced new development in key gateway market (Miami), and commenced two redevelopments, including on-campus MOB in Raleigh, NC. Sell agreements: Greenville, South Carolina MOB portfolio, $294.3 million. Total leverage 31.8% (debt less cash and cash equivalents to total capitalization). Total liquidity end of quarter $1.0 billion. During Q2, paid down $96.0 million on $286.0 million promissory note in Duke acquisition.

Bottom Line: Founded in 2006 and NYSE-listed in 2012, HTA’s returns have outperformed those of the S&P 500 and US REIT indices. 75% payout ratio, dividend 4.28%. STRONG BUY.

HEALTHY HEALTHCARE REIT #4: Welltower Inc. (NYSE:WELL)

The Big WHY: The operating environment for seniors housing remains challenging, but the benefit of owning a premier major urban market-focused portfolio is attractive. WELL’s operating portfolio continues to show the resiliency expected from the premier operators in top markets and submarkets.

Feathers in its Cap: The REIT’s Q2-18 closing balance sheet position was strong with $215 million of cash and equivalents and $2.5 billion of capacity under the primary unsecured credit facility. The leverage metrics were at robust levels, with net debt-to-adjusted EBITDA of 5.4x and net debt-to-undepreciated book capitalization ratio of 35.6%, while the adjusted fixed charge cover ratio remained strong at 3.5x. WELL increased the normalized FFO range to $3.99-4.06 per share from $3.95-4.05 per share prior.

Downsides: QCP, and partnering with ProMedica is a pretty unique transaction that provides integration and complexity risk.

Performance YTD: 5.9%.

Alpha Insider Management Update: Strong balance sheet with investment grade credit ratings from Moody’s (Baa1), Standard & Poor’s (BBB+), and Fitch (BBB+).

Bottom Line: 5.33% dividend yield, and we are updating from a HOLD to a BUY.

HEALTHY HEALTHCARE REIT #5: Physicians Realty Trust (NYSE:DOC)

The Big WHY: The most important factor in accessing the quality of a medical office building is the health system affiliation, credit quality to tenant, age of the building, occupancy, market share as a tenant, average remaining lease term, size of the building, and the client services and mix of services in the facility. Around 88% of DOC’s growth space is on campus and/or affiliated with a healthcare system.

Feathers in its Cap: DOC’s disciplined approach to investments continues to improve portfolio metrics, narrowing the gap with competitors at an aggressive pace. For example, the company has just 4.4% of leases expiring through 2022 (the peer average is 11.8%).

Downsides: Same as HTA – institutional investors have rotated out of the MOB sector. Also, DOC has yet to increase its dividend.

Performance YTD: -1.4%.

Alpha Insider Management Update: The REIT’s balance sheet metrics remain strong, with debt-to-firm value of 34% and net debt-to-EBITDA of 5.5x. DOC is extremely well-positioned in the rising rate environment. 99% of debt is at a fixed interest rate or is completely hedged, with no significant maturities until 2023.

Bottom Line: DOC’s dividend yields 5.36%, and it’s a STRONG BUY.

(Source: F.A.S.T. Graphs)

Note: We will be providing a detailed SWAN (sleep well at night) research report in the upcoming (September) edition of the Forbes Real Estate Investor.

Note: Brad Thomas is a Wall Street writer, and that means he is not always right with his predictions or recommendations. That also applies to his grammar. Please excuse any typos, and be assured that he will do his best to correct any errors, if they are overlooked.

Finally, this article is free, and the sole purpose for writing it is to assist with research, while also providing a forum for second-level thinking. If you have not followed him, please take five seconds and click his name above (top of the page).

Each week, Brad provides Marketplace subscribers with actionable REIT news, including (1) Friday afternoon subscriber calls, (2) Weekender updates, (3) Google portfolios, (4) Real-time alerts, (5) Early AM REIT news, (6) chat rooms, (7) the monthly newsletter, and (8) earnings results in Google Sheets.

Marketplace subscribers have access to a wide range of services, including weekly property sector updates and weekly Buy/Sell picks. We provide most all research to marketplace subscribers, and we also provide a “weekender” report and a “motivational Monday” report. We stream relevant real-time REIT news so that you can stay informed.

All of our portfolios are updated daily, and subscribers have access to all of the tools via Google Sheets. REITs should be part of your daily diet, and we would like to help you construct an Intelligent REIT portfolio, utilizing our portfolio modeling strategies. Brad reminds all subscribers and prospective subscribers that “the safest dividend is the one that’s just been raised.”

Disclosure: I am/we are long ACC, AVB, BHR, BPY, BRX, BXMT, CCI, CHCT, CIO, CLDT, CONE, CORR, CTRE, CXP, CUBE, DEA, DLR, DOC, EPR, EQIX, ESS, EXR, FRT, GEO, GMRE, GPT, HASI, HT, HTA, INN, IRET, IRM, JCAP, KIM, KREF, KRG, LADR, LAND, LMRK, LTC, MNR, NNN, NXRT, O, OFC, OHI, OUT, PEB, PEI, PK, PSB, PTTTS, QTS, REG, RHP, ROIC, SBRA, SKT, SPG, SRC, STAG, STOR, TCO, TRTX, UBA, UMH, UNIT, VER, VICI, VNO, VNQ, VTR, WPC.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

[smartwebhostingblog]

The Healthiest Healthcare REITs

New Post has been published on http://cloudwebhostingproviders.com/2018/08/17/the-healthiest-healthcare-reits/

The Healthiest Healthcare REITs

The U.S. Census Bureau categorizes Baby Boomers as individuals born between 1946 and 1964, and the effects of having to care for such a large group will be felt in many areas.

By 2029, when the last round of Boomers reaches retirement age, the number of Americans 65 or older will climb to more than 71 million, up from about 41 million in 2011, a 73 percent increase, according to Census Bureau estimates.

As Ventas CEO Debra Cafaro points out, “we know that the silver wave of the over 75 population will experience a net gain of 70 million individuals between 2020 and 2035, boarding well for our business and giving us confidence in the future while we manage through current operating condition.”

According to CBRE’s 2018 U.S. Real Estate Market Outlook, the aging U.S. population will be a significant tailwind for medical office demand in the years ahead.

“We expect demand for medical office buildings to grow, fueled by a shift away from the delivery of patient services on hospital campuses, the adoption of new technology, the aging population, healthcare job growth, tight market conditions and the relative recession-resistance of these properties,” said Andrea Cross, Americas head of office research, CBRE.

The medical office market has performed well in recent years, registering a lower peak vacancy rate than traditional office properties during the 2008 recession and showing a steady decline in vacancy during the recovery. Net absorption has outpaced new supply in 24 of the past 29 quarters, with particularly large imbalances since 2015.

Gross asking rents have been stable, reflecting consistent user demand and long lease terms that limit tenant turnover. New medical space completions have also been low relative to pre-recession levels, and the amount of space under construction has decreased slightly from the Q2 2016 peak. Chris Bodnar, vice chairman, Healthcare, CBRE Capital Markets, explains:

“Investment trends reflect strong medical-office market fundamentals and a broadening pool of interested investors. While uncertainty about healthcare policy poses a risk to the medical office market, favorable demographic trends point to continued strong healthcare demand, regardless of any policy changes.”

The core business of healthcare is inherently driven by demand for patient care, providing a stable foundation to support investment in the sector. The need for more facilities and services to manage the chronic illnesses of this aging population will be a major driver for growth.

Despite the controversy around these and future changes to reimbursement, healthcare is a required service that will continue to need real estate assets, and REITs provide an excellent vehicle for healthcare providers to become more efficient by partnering with “healthy” capitalized companies.

(Photo Source)

The Healthiest Healthcare REITs

So, shoulders back, chin up, deep breath… here’s a handful of hearty and healthy healthcare REITs:

HEALTHY HEALTHCARE REIT #1: Ventas Inc. (NYSE:VTR)

The Big WHY: Champion, diversified healthcare REIT with deliberately constructed portfolio of more than 1,200 assets

Feathers in its Cap: Focused on high-quality real estate well located in attractive markets (with high barriers to entry). Partners with top operators in each asset class – sector leaders, well-positioned for growth. Properties in U.S., Canada, United Kingdom. Portfolio: Senior Housing 62%, Medical Office 20%, Life Science 7%, Health Systems 5%, IRFs/LTACs 2%, Skilled Nursing 1%.

Downsides: Though skilled nursing triple net is 1% of NOI, VTR experienced continued decline in Genesis’s (NYSE:GEN) performance given ongoing industry SNF headwinds.

Performance YTD: 1.2%.

Alpha Insider Management Update: The company’s investments across the healthcare real estate spectrum provide sustainable, growing cash flow during strong economic cycles and resilience during downturns.

Bottom Line: VTR has the absolutely best credit profile and balance sheet. Its net debt-to-EBITDA ratio now stands at an excellent 5.3x and debt-to-assets is also robust at 36%. Substantial dry powder ($3.1 billion on credit facility) for any M&A. Successful history of dividend performance, and growth profile, current yield 5.38%. Payout ratio 78% on FFO. STRONG BUY (as in “buy, and hold onto this one!”)

HEALTHY HEALTHCARE REIT #2: LTC Properties, Inc. (NYSE:LTC)

The Big WHY: Triple net leases primarily in senior housing and healthcare properties via joint ventures, sale-leaseback transactions, mortgage financing, preferred equity, mezzanine lending.

Feathers in its Cap: In business over 25 years. Enterprise value as of June 30 over $2.1 billion. Holds 199 investments in nearly balanced capital allocation: assisted living communities (102, includes independent living & memory care communities), skilled nursing centers (96), and behavioral healthcare hospital. Located in 28 states. Funds From Operations (FFO): $29.6 million for Q2-18, compared with $31.4 million Q2-17 (per diluted common share $0.75 and $0.79).

Downsides: Decreases in Q2-18 results mostly due to defaulted master lease on cash basis in third quarter 2017 and reduction in rental income related to properties sold the past year.

Performance YTD: 6.2%.

Alpha Insider Management Update: Sold portfolio of six assisted living and memory care communities at a net gain of $48.3 million. Completed acquisition of two memory care communities in Texas for $25.2 million with 10-year master lease and 7.25% initial cash yield. Entered into partnership for properties in Medford, OR, and opened new facility in Illinois. New unsecured credit agreement has the opportunity to increase to $1.0 billion.

Bottom Line: Rated as a STRONG BUY. Dividend payout ratio of 76%, yielding 5.09%.

HEALTHY HEALTHCARE REIT #3: Healthcare Trust of America, Inc. (NYSE:HTA)

The Big WHY: Largest dedicated owner and operator of 450 medical office buildings (MOBs) in the U.S. (33 states), across more than 24 million square feet. Over $7 billion invested.

Feathers in its Cap: Provides real estate infrastructure for integrated delivery of healthcare services in highly desirable locations, targeted to build critical mass in 20-25 leading gateway markets generally with leading university and medical institutions, to support a strong, long-term demand for quality medical office space. Q2-18 FFO increased 55.8% to $84.4 million (Q2-17 comparison), or per diluted share +33.3%, to $0.40. During Q2-18, new and renewed leases on approximately 1.0 million square feet (4.2% of portfolio). Tenant retention rate of 86%. Occupancy rate of 90.9%. The company just increased its dividend by 1.6% (payable October 5).

Downsides: MOB is out of favor with institutions, yet sector rotation can provide attractive opportunities for intelligent REIT investors.

Performance YTD: -1.0%.

Alpha Insider Management Update: (“BBB” balance sheet) Announced new development in key gateway market (Miami), and commenced two redevelopments, including on-campus MOB in Raleigh, NC. Sell agreements: Greenville, South Carolina MOB portfolio, $294.3 million. Total leverage 31.8% (debt less cash and cash equivalents to total capitalization). Total liquidity end of quarter $1.0 billion. During Q2, paid down $96.0 million on $286.0 million promissory note in Duke acquisition.

Bottom Line: Founded in 2006 and NYSE-listed in 2012, HTA’s returns have outperformed those of the S&P 500 and US REIT indices. 75% payout ratio, dividend 4.28%. STRONG BUY.

HEALTHY HEALTHCARE REIT #4: Welltower Inc. (NYSE:WELL)

The Big WHY: The operating environment for seniors housing remains challenging, but the benefit of owning a premier major urban market-focused portfolio is attractive. WELL’s operating portfolio continues to show the resiliency expected from the premier operators in top markets and submarkets.

Feathers in its Cap: The REIT’s Q2-18 closing balance sheet position was strong with $215 million of cash and equivalents and $2.5 billion of capacity under the primary unsecured credit facility. The leverage metrics were at robust levels, with net debt-to-adjusted EBITDA of 5.4x and net debt-to-undepreciated book capitalization ratio of 35.6%, while the adjusted fixed charge cover ratio remained strong at 3.5x. WELL increased the normalized FFO range to $3.99-4.06 per share from $3.95-4.05 per share prior.

Downsides: QCP, and partnering with ProMedica is a pretty unique transaction that provides integration and complexity risk.

Performance YTD: 5.9%.

Alpha Insider Management Update: Strong balance sheet with investment grade credit ratings from Moody’s (Baa1), Standard & Poor’s (BBB+), and Fitch (BBB+).

Bottom Line: 5.33% dividend yield, and we are updating from a HOLD to a BUY.

HEALTHY HEALTHCARE REIT #5: Physicians Realty Trust (NYSE:DOC)

The Big WHY: The most important factor in accessing the quality of a medical office building is the health system affiliation, credit quality to tenant, age of the building, occupancy, market share as a tenant, average remaining lease term, size of the building, and the client services and mix of services in the facility. Around 88% of DOC’s growth space is on campus and/or affiliated with a healthcare system.

Feathers in its Cap: DOC’s disciplined approach to investments continues to improve portfolio metrics, narrowing the gap with competitors at an aggressive pace. For example, the company has just 4.4% of leases expiring through 2022 (the peer average is 11.8%).

Downsides: Same as HTA – institutional investors have rotated out of the MOB sector. Also, DOC has yet to increase its dividend.

Performance YTD: -1.4%.

Alpha Insider Management Update: The REIT’s balance sheet metrics remain strong, with debt-to-firm value of 34% and net debt-to-EBITDA of 5.5x. DOC is extremely well-positioned in the rising rate environment. 99% of debt is at a fixed interest rate or is completely hedged, with no significant maturities until 2023.

Bottom Line: DOC’s dividend yields 5.36%, and it’s a STRONG BUY.

(Source: F.A.S.T. Graphs)

Note: We will be providing a detailed SWAN (sleep well at night) research report in the upcoming (September) edition of the Forbes Real Estate Investor.

Note: Brad Thomas is a Wall Street writer, and that means he is not always right with his predictions or recommendations. That also applies to his grammar. Please excuse any typos, and be assured that he will do his best to correct any errors, if they are overlooked.

Finally, this article is free, and the sole purpose for writing it is to assist with research, while also providing a forum for second-level thinking. If you have not followed him, please take five seconds and click his name above (top of the page).

Each week, Brad provides Marketplace subscribers with actionable REIT news, including (1) Friday afternoon subscriber calls, (2) Weekender updates, (3) Google portfolios, (4) Real-time alerts, (5) Early AM REIT news, (6) chat rooms, (7) the monthly newsletter, and (8) earnings results in Google Sheets.

Marketplace subscribers have access to a wide range of services, including weekly property sector updates and weekly Buy/Sell picks. We provide most all research to marketplace subscribers, and we also provide a “weekender” report and a “motivational Monday” report. We stream relevant real-time REIT news so that you can stay informed.

All of our portfolios are updated daily, and subscribers have access to all of the tools via Google Sheets. REITs should be part of your daily diet, and we would like to help you construct an Intelligent REIT portfolio, utilizing our portfolio modeling strategies. Brad reminds all subscribers and prospective subscribers that “the safest dividend is the one that’s just been raised.”

Disclosure: I am/we are long ACC, AVB, BHR, BPY, BRX, BXMT, CCI, CHCT, CIO, CLDT, CONE, CORR, CTRE, CXP, CUBE, DEA, DLR, DOC, EPR, EQIX, ESS, EXR, FRT, GEO, GMRE, GPT, HASI, HT, HTA, INN, IRET, IRM, JCAP, KIM, KREF, KRG, LADR, LAND, LMRK, LTC, MNR, NNN, NXRT, O, OFC, OHI, OUT, PEB, PEI, PK, PSB, PTTTS, QTS, REG, RHP, ROIC, SBRA, SKT, SPG, SRC, STAG, STOR, TCO, TRTX, UBA, UMH, UNIT, VER, VICI, VNO, VNQ, VTR, WPC.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

[lazilysillyprince]

The Healthiest Healthcare REITs

New Post has been published on http://cloudwebhostingproviders.com/2018/08/17/the-healthiest-healthcare-reits/

The Healthiest Healthcare REITs

The U.S. Census Bureau categorizes Baby Boomers as individuals born between 1946 and 1964, and the effects of having to care for such a large group will be felt in many areas.

By 2029, when the last round of Boomers reaches retirement age, the number of Americans 65 or older will climb to more than 71 million, up from about 41 million in 2011, a 73 percent increase, according to Census Bureau estimates.

As Ventas CEO Debra Cafaro points out, “we know that the silver wave of the over 75 population will experience a net gain of 70 million individuals between 2020 and 2035, boarding well for our business and giving us confidence in the future while we manage through current operating condition.”

According to CBRE’s 2018 U.S. Real Estate Market Outlook, the aging U.S. population will be a significant tailwind for medical office demand in the years ahead.

“We expect demand for medical office buildings to grow, fueled by a shift away from the delivery of patient services on hospital campuses, the adoption of new technology, the aging population, healthcare job growth, tight market conditions and the relative recession-resistance of these properties,” said Andrea Cross, Americas head of office research, CBRE.

The medical office market has performed well in recent years, registering a lower peak vacancy rate than traditional office properties during the 2008 recession and showing a steady decline in vacancy during the recovery. Net absorption has outpaced new supply in 24 of the past 29 quarters, with particularly large imbalances since 2015.

Gross asking rents have been stable, reflecting consistent user demand and long lease terms that limit tenant turnover. New medical space completions have also been low relative to pre-recession levels, and the amount of space under construction has decreased slightly from the Q2 2016 peak. Chris Bodnar, vice chairman, Healthcare, CBRE Capital Markets, explains:

“Investment trends reflect strong medical-office market fundamentals and a broadening pool of interested investors. While uncertainty about healthcare policy poses a risk to the medical office market, favorable demographic trends point to continued strong healthcare demand, regardless of any policy changes.”

The core business of healthcare is inherently driven by demand for patient care, providing a stable foundation to support investment in the sector. The need for more facilities and services to manage the chronic illnesses of this aging population will be a major driver for growth.

Despite the controversy around these and future changes to reimbursement, healthcare is a required service that will continue to need real estate assets, and REITs provide an excellent vehicle for healthcare providers to become more efficient by partnering with “healthy” capitalized companies.

(Photo Source)

The Healthiest Healthcare REITs

So, shoulders back, chin up, deep breath… here’s a handful of hearty and healthy healthcare REITs:

HEALTHY HEALTHCARE REIT #1: Ventas Inc. (NYSE:VTR)

The Big WHY: Champion, diversified healthcare REIT with deliberately constructed portfolio of more than 1,200 assets

Feathers in its Cap: Focused on high-quality real estate well located in attractive markets (with high barriers to entry). Partners with top operators in each asset class – sector leaders, well-positioned for growth. Properties in U.S., Canada, United Kingdom. Portfolio: Senior Housing 62%, Medical Office 20%, Life Science 7%, Health Systems 5%, IRFs/LTACs 2%, Skilled Nursing 1%.

Downsides: Though skilled nursing triple net is 1% of NOI, VTR experienced continued decline in Genesis’s (NYSE:GEN) performance given ongoing industry SNF headwinds.

Performance YTD: 1.2%.

Alpha Insider Management Update: The company’s investments across the healthcare real estate spectrum provide sustainable, growing cash flow during strong economic cycles and resilience during downturns.

Bottom Line: VTR has the absolutely best credit profile and balance sheet. Its net debt-to-EBITDA ratio now stands at an excellent 5.3x and debt-to-assets is also robust at 36%. Substantial dry powder ($3.1 billion on credit facility) for any M&A. Successful history of dividend performance, and growth profile, current yield 5.38%. Payout ratio 78% on FFO. STRONG BUY (as in “buy, and hold onto this one!”)

HEALTHY HEALTHCARE REIT #2: LTC Properties, Inc. (NYSE:LTC)

The Big WHY: Triple net leases primarily in senior housing and healthcare properties via joint ventures, sale-leaseback transactions, mortgage financing, preferred equity, mezzanine lending.

Feathers in its Cap: In business over 25 years. Enterprise value as of June 30 over $2.1 billion. Holds 199 investments in nearly balanced capital allocation: assisted living communities (102, includes independent living & memory care communities), skilled nursing centers (96), and behavioral healthcare hospital. Located in 28 states. Funds From Operations (FFO): $29.6 million for Q2-18, compared with $31.4 million Q2-17 (per diluted common share $0.75 and $0.79).

Downsides: Decreases in Q2-18 results mostly due to defaulted master lease on cash basis in third quarter 2017 and reduction in rental income related to properties sold the past year.

Performance YTD: 6.2%.

Alpha Insider Management Update: Sold portfolio of six assisted living and memory care communities at a net gain of $48.3 million. Completed acquisition of two memory care communities in Texas for $25.2 million with 10-year master lease and 7.25% initial cash yield. Entered into partnership for properties in Medford, OR, and opened new facility in Illinois. New unsecured credit agreement has the opportunity to increase to $1.0 billion.

Bottom Line: Rated as a STRONG BUY. Dividend payout ratio of 76%, yielding 5.09%.

HEALTHY HEALTHCARE REIT #3: Healthcare Trust of America, Inc. (NYSE:HTA)

The Big WHY: Largest dedicated owner and operator of 450 medical office buildings (MOBs) in the U.S. (33 states), across more than 24 million square feet. Over $7 billion invested.

Feathers in its Cap: Provides real estate infrastructure for integrated delivery of healthcare services in highly desirable locations, targeted to build critical mass in 20-25 leading gateway markets generally with leading university and medical institutions, to support a strong, long-term demand for quality medical office space. Q2-18 FFO increased 55.8% to $84.4 million (Q2-17 comparison), or per diluted share +33.3%, to $0.40. During Q2-18, new and renewed leases on approximately 1.0 million square feet (4.2% of portfolio). Tenant retention rate of 86%. Occupancy rate of 90.9%. The company just increased its dividend by 1.6% (payable October 5).

Downsides: MOB is out of favor with institutions, yet sector rotation can provide attractive opportunities for intelligent REIT investors.

Performance YTD: -1.0%.

Alpha Insider Management Update: (“BBB” balance sheet) Announced new development in key gateway market (Miami), and commenced two redevelopments, including on-campus MOB in Raleigh, NC. Sell agreements: Greenville, South Carolina MOB portfolio, $294.3 million. Total leverage 31.8% (debt less cash and cash equivalents to total capitalization). Total liquidity end of quarter $1.0 billion. During Q2, paid down $96.0 million on $286.0 million promissory note in Duke acquisition.

Bottom Line: Founded in 2006 and NYSE-listed in 2012, HTA’s returns have outperformed those of the S&P 500 and US REIT indices. 75% payout ratio, dividend 4.28%. STRONG BUY.

HEALTHY HEALTHCARE REIT #4: Welltower Inc. (NYSE:WELL)

The Big WHY: The operating environment for seniors housing remains challenging, but the benefit of owning a premier major urban market-focused portfolio is attractive. WELL’s operating portfolio continues to show the resiliency expected from the premier operators in top markets and submarkets.

Feathers in its Cap: The REIT’s Q2-18 closing balance sheet position was strong with $215 million of cash and equivalents and $2.5 billion of capacity under the primary unsecured credit facility. The leverage metrics were at robust levels, with net debt-to-adjusted EBITDA of 5.4x and net debt-to-undepreciated book capitalization ratio of 35.6%, while the adjusted fixed charge cover ratio remained strong at 3.5x. WELL increased the normalized FFO range to $3.99-4.06 per share from $3.95-4.05 per share prior.

Downsides: QCP, and partnering with ProMedica is a pretty unique transaction that provides integration and complexity risk.

Performance YTD: 5.9%.

Alpha Insider Management Update: Strong balance sheet with investment grade credit ratings from Moody’s (Baa1), Standard & Poor’s (BBB+), and Fitch (BBB+).

Bottom Line: 5.33% dividend yield, and we are updating from a HOLD to a BUY.

HEALTHY HEALTHCARE REIT #5: Physicians Realty Trust (NYSE:DOC)

The Big WHY: The most important factor in accessing the quality of a medical office building is the health system affiliation, credit quality to tenant, age of the building, occupancy, market share as a tenant, average remaining lease term, size of the building, and the client services and mix of services in the facility. Around 88% of DOC’s growth space is on campus and/or affiliated with a healthcare system.

Feathers in its Cap: DOC’s disciplined approach to investments continues to improve portfolio metrics, narrowing the gap with competitors at an aggressive pace. For example, the company has just 4.4% of leases expiring through 2022 (the peer average is 11.8%).

Downsides: Same as HTA – institutional investors have rotated out of the MOB sector. Also, DOC has yet to increase its dividend.

Performance YTD: -1.4%.

Alpha Insider Management Update: The REIT’s balance sheet metrics remain strong, with debt-to-firm value of 34% and net debt-to-EBITDA of 5.5x. DOC is extremely well-positioned in the rising rate environment. 99% of debt is at a fixed interest rate or is completely hedged, with no significant maturities until 2023.

Bottom Line: DOC’s dividend yields 5.36%, and it’s a STRONG BUY.

(Source: F.A.S.T. Graphs)

Note: We will be providing a detailed SWAN (sleep well at night) research report in the upcoming (September) edition of the Forbes Real Estate Investor.

Note: Brad Thomas is a Wall Street writer, and that means he is not always right with his predictions or recommendations. That also applies to his grammar. Please excuse any typos, and be assured that he will do his best to correct any errors, if they are overlooked.

Finally, this article is free, and the sole purpose for writing it is to assist with research, while also providing a forum for second-level thinking. If you have not followed him, please take five seconds and click his name above (top of the page).

Each week, Brad provides Marketplace subscribers with actionable REIT news, including (1) Friday afternoon subscriber calls, (2) Weekender updates, (3) Google portfolios, (4) Real-time alerts, (5) Early AM REIT news, (6) chat rooms, (7) the monthly newsletter, and (8) earnings results in Google Sheets.

Marketplace subscribers have access to a wide range of services, including weekly property sector updates and weekly Buy/Sell picks. We provide most all research to marketplace subscribers, and we also provide a “weekender” report and a “motivational Monday” report. We stream relevant real-time REIT news so that you can stay informed.

All of our portfolios are updated daily, and subscribers have access to all of the tools via Google Sheets. REITs should be part of your daily diet, and we would like to help you construct an Intelligent REIT portfolio, utilizing our portfolio modeling strategies. Brad reminds all subscribers and prospective subscribers that “the safest dividend is the one that’s just been raised.”

Disclosure: I am/we are long ACC, AVB, BHR, BPY, BRX, BXMT, CCI, CHCT, CIO, CLDT, CONE, CORR, CTRE, CXP, CUBE, DEA, DLR, DOC, EPR, EQIX, ESS, EXR, FRT, GEO, GMRE, GPT, HASI, HT, HTA, INN, IRET, IRM, JCAP, KIM, KREF, KRG, LADR, LAND, LMRK, LTC, MNR, NNN, NXRT, O, OFC, OHI, OUT, PEB, PEI, PK, PSB, PTTTS, QTS, REG, RHP, ROIC, SBRA, SKT, SPG, SRC, STAG, STOR, TCO, TRTX, UBA, UMH, UNIT, VER, VICI, VNO, VNQ, VTR, WPC.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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The Healthiest Healthcare REITs

New Post has been published on http://ritzywordpressthemes.com/the-healthiest-healthcare-reits/

The Healthiest Healthcare REITs

The U.S. Census Bureau categorizes Baby Boomers as individuals born between 1946 and 1964, and the effects of having to care for such a large group will be felt in many areas.

By 2029, when the last round of Boomers reaches retirement age, the number of Americans 65 or older will climb to more than 71 million, up from about 41 million in 2011, a 73 percent increase, according to Census Bureau estimates.

As Ventas CEO Debra Cafaro points out, “we know that the silver wave of the over 75 population will experience a net gain of 70 million individuals between 2020 and 2035, boarding well for our business and giving us confidence in the future while we manage through current operating condition.”

According to CBRE’s 2018 U.S. Real Estate Market Outlook, the aging U.S. population will be a significant tailwind for medical office demand in the years ahead.

“We expect demand for medical office buildings to grow, fueled by a shift away from the delivery of patient services on hospital campuses, the adoption of new technology, the aging population, healthcare job growth, tight market conditions and the relative recession-resistance of these properties,” said Andrea Cross, Americas head of office research, CBRE.

The medical office market has performed well in recent years, registering a lower peak vacancy rate than traditional office properties during the 2008 recession and showing a steady decline in vacancy during the recovery. Net absorption has outpaced new supply in 24 of the past 29 quarters, with particularly large imbalances since 2015.

Gross asking rents have been stable, reflecting consistent user demand and long lease terms that limit tenant turnover. New medical space completions have also been low relative to pre-recession levels, and the amount of space under construction has decreased slightly from the Q2 2016 peak. Chris Bodnar, vice chairman, Healthcare, CBRE Capital Markets, explains:

“Investment trends reflect strong medical-office market fundamentals and a broadening pool of interested investors. While uncertainty about healthcare policy poses a risk to the medical office market, favorable demographic trends point to continued strong healthcare demand, regardless of any policy changes.”

The core business of healthcare is inherently driven by demand for patient care, providing a stable foundation to support investment in the sector. The need for more facilities and services to manage the chronic illnesses of this aging population will be a major driver for growth.

Despite the controversy around these and future changes to reimbursement, healthcare is a required service that will continue to need real estate assets, and REITs provide an excellent vehicle for healthcare providers to become more efficient by partnering with “healthy” capitalized companies.

(Photo Source)

The Healthiest Healthcare REITs

So, shoulders back, chin up, deep breath… here’s a handful of hearty and healthy healthcare REITs:

HEALTHY HEALTHCARE REIT #1: Ventas Inc. (NYSE:VTR)

The Big WHY: Champion, diversified healthcare REIT with deliberately constructed portfolio of more than 1,200 assets

Feathers in its Cap: Focused on high-quality real estate well located in attractive markets (with high barriers to entry). Partners with top operators in each asset class – sector leaders, well-positioned for growth. Properties in U.S., Canada, United Kingdom. Portfolio: Senior Housing 62%, Medical Office 20%, Life Science 7%, Health Systems 5%, IRFs/LTACs 2%, Skilled Nursing 1%.

Downsides: Though skilled nursing triple net is 1% of NOI, VTR experienced continued decline in Genesis’s (NYSE:GEN) performance given ongoing industry SNF headwinds.

Performance YTD: 1.2%.

Alpha Insider Management Update: The company’s investments across the healthcare real estate spectrum provide sustainable, growing cash flow during strong economic cycles and resilience during downturns.

Bottom Line: VTR has the absolutely best credit profile and balance sheet. Its net debt-to-EBITDA ratio now stands at an excellent 5.3x and debt-to-assets is also robust at 36%. Substantial dry powder ($3.1 billion on credit facility) for any M&A. Successful history of dividend performance, and growth profile, current yield 5.38%. Payout ratio 78% on FFO. STRONG BUY (as in “buy, and hold onto this one!”)

HEALTHY HEALTHCARE REIT #2: LTC Properties, Inc. (NYSE:LTC)

The Big WHY: Triple net leases primarily in senior housing and healthcare properties via joint ventures, sale-leaseback transactions, mortgage financing, preferred equity, mezzanine lending.

Feathers in its Cap: In business over 25 years. Enterprise value as of June 30 over $2.1 billion. Holds 199 investments in nearly balanced capital allocation: assisted living communities (102, includes independent living & memory care communities), skilled nursing centers (96), and behavioral healthcare hospital. Located in 28 states. Funds From Operations (FFO): $29.6 million for Q2-18, compared with $31.4 million Q2-17 (per diluted common share $0.75 and $0.79).

Downsides: Decreases in Q2-18 results mostly due to defaulted master lease on cash basis in third quarter 2017 and reduction in rental income related to properties sold the past year.

Performance YTD: 6.2%.

Alpha Insider Management Update: Sold portfolio of six assisted living and memory care communities at a net gain of $48.3 million. Completed acquisition of two memory care communities in Texas for $25.2 million with 10-year master lease and 7.25% initial cash yield. Entered into partnership for properties in Medford, OR, and opened new facility in Illinois. New unsecured credit agreement has the opportunity to increase to $1.0 billion.

Bottom Line: Rated as a STRONG BUY. Dividend payout ratio of 76%, yielding 5.09%.

HEALTHY HEALTHCARE REIT #3: Healthcare Trust of America, Inc. (NYSE:HTA)

The Big WHY: Largest dedicated owner and operator of 450 medical office buildings (MOBs) in the U.S. (33 states), across more than 24 million square feet. Over $7 billion invested.

Feathers in its Cap: Provides real estate infrastructure for integrated delivery of healthcare services in highly desirable locations, targeted to build critical mass in 20-25 leading gateway markets generally with leading university and medical institutions, to support a strong, long-term demand for quality medical office space. Q2-18 FFO increased 55.8% to $84.4 million (Q2-17 comparison), or per diluted share +33.3%, to $0.40. During Q2-18, new and renewed leases on approximately 1.0 million square feet (4.2% of portfolio). Tenant retention rate of 86%. Occupancy rate of 90.9%. The company just increased its dividend by 1.6% (payable October 5).

Downsides: MOB is out of favor with institutions, yet sector rotation can provide attractive opportunities for intelligent REIT investors.

Performance YTD: -1.0%.

Alpha Insider Management Update: (“BBB” balance sheet) Announced new development in key gateway market (Miami), and commenced two redevelopments, including on-campus MOB in Raleigh, NC. Sell agreements: Greenville, South Carolina MOB portfolio, $294.3 million. Total leverage 31.8% (debt less cash and cash equivalents to total capitalization). Total liquidity end of quarter $1.0 billion. During Q2, paid down $96.0 million on $286.0 million promissory note in Duke acquisition.

Bottom Line: Founded in 2006 and NYSE-listed in 2012, HTA’s returns have outperformed those of the S&P 500 and US REIT indices. 75% payout ratio, dividend 4.28%. STRONG BUY.

HEALTHY HEALTHCARE REIT #4: Welltower Inc. (NYSE:WELL)

The Big WHY: The operating environment for seniors housing remains challenging, but the benefit of owning a premier major urban market-focused portfolio is attractive. WELL’s operating portfolio continues to show the resiliency expected from the premier operators in top markets and submarkets.

Feathers in its Cap: The REIT’s Q2-18 closing balance sheet position was strong with $215 million of cash and equivalents and $2.5 billion of capacity under the primary unsecured credit facility. The leverage metrics were at robust levels, with net debt-to-adjusted EBITDA of 5.4x and net debt-to-undepreciated book capitalization ratio of 35.6%, while the adjusted fixed charge cover ratio remained strong at 3.5x. WELL increased the normalized FFO range to $3.99-4.06 per share from $3.95-4.05 per share prior.

Downsides: QCP, and partnering with ProMedica is a pretty unique transaction that provides integration and complexity risk.

Performance YTD: 5.9%.

Alpha Insider Management Update: Strong balance sheet with investment grade credit ratings from Moody’s (Baa1), Standard & Poor’s (BBB+), and Fitch (BBB+).

Bottom Line: 5.33% dividend yield, and we are updating from a HOLD to a BUY.

HEALTHY HEALTHCARE REIT #5: Physicians Realty Trust (NYSE:DOC)

The Big WHY: The most important factor in accessing the quality of a medical office building is the health system affiliation, credit quality to tenant, age of the building, occupancy, market share as a tenant, average remaining lease term, size of the building, and the client services and mix of services in the facility. Around 88% of DOC’s growth space is on campus and/or affiliated with a healthcare system.

Feathers in its Cap: DOC’s disciplined approach to investments continues to improve portfolio metrics, narrowing the gap with competitors at an aggressive pace. For example, the company has just 4.4% of leases expiring through 2022 (the peer average is 11.8%).

Downsides: Same as HTA – institutional investors have rotated out of the MOB sector. Also, DOC has yet to increase its dividend.

Performance YTD: -1.4%.

Alpha Insider Management Update: The REIT’s balance sheet metrics remain strong, with debt-to-firm value of 34% and net debt-to-EBITDA of 5.5x. DOC is extremely well-positioned in the rising rate environment. 99% of debt is at a fixed interest rate or is completely hedged, with no significant maturities until 2023.

Bottom Line: DOC’s dividend yields 5.36%, and it’s a STRONG BUY.

(Source: F.A.S.T. Graphs)

Note: We will be providing a detailed SWAN (sleep well at night) research report in the upcoming (September) edition of the Forbes Real Estate Investor.

Note: Brad Thomas is a Wall Street writer, and that means he is not always right with his predictions or recommendations. That also applies to his grammar. Please excuse any typos, and be assured that he will do his best to correct any errors, if they are overlooked.

Finally, this article is free, and the sole purpose for writing it is to assist with research, while also providing a forum for second-level thinking. If you have not followed him, please take five seconds and click his name above (top of the page).

Each week, Brad provides Marketplace subscribers with actionable REIT news, including (1) Friday afternoon subscriber calls, (2) Weekender updates, (3) Google portfolios, (4) Real-time alerts, (5) Early AM REIT news, (6) chat rooms, (7) the monthly newsletter, and (8) earnings results in Google Sheets.

Marketplace subscribers have access to a wide range of services, including weekly property sector updates and weekly Buy/Sell picks. We provide most all research to marketplace subscribers, and we also provide a “weekender” report and a “motivational Monday” report. We stream relevant real-time REIT news so that you can stay informed.

All of our portfolios are updated daily, and subscribers have access to all of the tools via Google Sheets. REITs should be part of your daily diet, and we would like to help you construct an Intelligent REIT portfolio, utilizing our portfolio modeling strategies. Brad reminds all subscribers and prospective subscribers that “the safest dividend is the one that’s just been raised.”

Disclosure: I am/we are long ACC, AVB, BHR, BPY, BRX, BXMT, CCI, CHCT, CIO, CLDT, CONE, CORR, CTRE, CXP, CUBE, DEA, DLR, DOC, EPR, EQIX, ESS, EXR, FRT, GEO, GMRE, GPT, HASI, HT, HTA, INN, IRET, IRM, JCAP, KIM, KREF, KRG, LADR, LAND, LMRK, LTC, MNR, NNN, NXRT, O, OFC, OHI, OUT, PEB, PEI, PK, PSB, PTTTS, QTS, REG, RHP, ROIC, SBRA, SKT, SPG, SRC, STAG, STOR, TCO, TRTX, UBA, UMH, UNIT, VER, VICI, VNO, VNQ, VTR, WPC.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.