This REIT has horrible fundamentals. The PE ratio & EPS alone are laughable.
I am starting my analysis at:
If you question my fundamental analysis abilities, you can read about my 2008 ProLogis trade and all my analysis at:
I am rarely wrong.
> If you question my fundamental analysis abilities, you can read about my 2008 ProLogis trade and all my analysis at: ...
Never questioned them. I long ago realized (and time has shown) that you don't have any.
How is that "easy" money shorting that you boasted about on the HCP board working out for you?
Well let's see here..If you were really short as of Jan 2009, when this equity was at $15.00, your bank would have already done a margin call, as you would have already lost over 60% of your investment. I must say that your, www.stripnomics.com , is a load of ..BS and you could very well work for MSNBC with your crackpot biased analisis, which lead investors to a loss, just because you were fired from ACC or kicked out of their housing. Go back to school punk!
The short side is looking good. If you read the report leasing is behind at all assets except the GMH portfolio which is only up marginally from last year. I look forward to the call today, hope to hear some questions about the dividend, and how much longer they can sustain it at its current level. Staying short for the long haul!
Good analysis, but if you want to analyze a REIT you do not look at EPS. You have to look at FFO and FFA or FAD, to back out depreciation otherwise you are not looking at the company's cash flow. Real estate is a cash flowing business, andin the last 10-Q for the 3rd quarter the company had $18mm of depreciation in their income statement. Since you don't pay this to anyone, you need to add it back to their income line, among other things.
While I agree with many of your points, especially the debt section and the purchase of GMH, you cannot look at a REITs EPS. I hope this helps with your future investment decisions.
I respectfully disagree with you. FFO is a bogus metric created by NAREIT for convenient accounting games?
You can read my critical analysis of FFO at:
or at www.stripnomics.com
I have just begun publishing my dividend analysis on the company and I will be aggregating all of my ACC analysis on one page.