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Mid-America Apartment Communities Inc. Message Board

beabaggage 10 posts  |  Last Activity: Jul 5, 2016 2:43 PM Member since: Nov 13, 2008
  • Reply to

    I don't get it

    by rcairo98 Jun 22, 2016 9:48 AM
    beabaggage beabaggage Jul 5, 2016 2:43 PM Flag

    agree, UNII is down to .01- could dist be cut? if swap income doesnt play out, maybe later this year.. seems to have a 12% weighting to the UK pound as well..

    and income based cef gains, much like muni and pfd, baby bond fund gains, seem outsized in relation to value. sold small position today for nice gain, maybe early?but just too risky for me now. PCN, PKO etc. lots of gains, prem to nav etc. Bea

    Sentiment: Sell

  • Reply to

    Irt pays off acquisition debt

    by ethison Jun 27, 2016 8:54 AM
    beabaggage beabaggage Jun 27, 2016 12:30 PM Flag

    I just listened again to the REIT week 6/7 presentation available on the irt website and seems like they are driving NOI growth-- improving properties and rent increases are more the focus and it seems like things are on track. they pointed out that RAS mgmt. of properties, while external, is very low cost G&A expense compared to internally managed apt reits- when scale is achieved, internal mgmt. is still an objective.

    No acquisitions planned or share sales at these prices, based on cap rates for recent sales, shares very undervalued. "B" apts very attractive in this market. I see IRT as more of a target than an acquirer? long and dripping monthly into more shares. full yr Thompson/reuters est for ffo is about .86 w 2nd q est at .21.

    recent refi's of mtges at avg cost about 3.6% plus Keybanc doing the 2yr senior term loan on the bal of tradestreet interim at 4 plus libor means bankers see a strong company here- we did not have to do an expensive pfd like BRG did. glad they did not sell anymore properties and if they do,probably could payoff the $40mil no problem, no material debt due.. oh well, hanging in there! under $7 adding more.. glta, Bea

  • Reply to

    New seeking alfalfa article...great read.

    by carl_icant Jun 26, 2016 10:28 AM
    beabaggage beabaggage Jun 27, 2016 12:15 PM Flag

    any focus helps I guess, could have stressed more that SNR's focus is IL/AL while OHI is skilled/ltc focus mostly,and there are really no pure plays like us in the IL/AL space.. .

    the current low price of shares w improving FFO ,consolidation of acquisitions -and potentially declining share count- makes this an attractive holding and acquisition target for a VTR, HCN, HR or OHI seeking more diversification- VTR's share price near 70 again so they have the "currency"- and a less speculative holding on it's own.

    2nd q results should be good and CEO should update where she is on further consolidation of the portfolio. she should do a 20-30m (2-3mil) share tender to remind folks buyback in place too. Bea

    Sentiment: Buy

  • Reply to

    Been a good ride.

    by lamontcranston17 Jun 3, 2016 4:40 PM
    beabaggage beabaggage Jun 24, 2016 3:21 PM Flag

    making new high list near 70, time for them to buy SNR, pick up good AL/IL assets very cheap w the VTR stock up so much. they could probably get it for 13-15$, FIG may be glad to get out of SNR too. Bea

  • holding position as it appears undervalued compared to the run up in most income cef this year. also PCI. Bea

    Sentiment: Hold

  • Reply to

    unii

    by wordscheap Jun 19, 2016 5:41 PM
    beabaggage beabaggage Jun 20, 2016 12:21 PM Flag

    looks like it is still positive at .14 for 5/31/16, latest UNII report available as of 6/20/16. I would imagine, depending on how they hedged etc., that June would be a good month for income funds w gains in most categories.
    these funds are getting more and more difficult to analyze w all the derivative and hedged positions piled on top of high leverage. Bea

  • Reply to

    Long and extensive

    by carl_icant Jun 16, 2016 8:28 AM
    beabaggage beabaggage Jun 16, 2016 10:55 AM Flag

    the #$%$ it's own merits w the consolidation of growth, buyback and good CEO makes the shares worth holding too. really it is a pure play on IL/AL w little LTC exposure and thus little Medicaid exposure. If shares come under pressure more would expect CEO to do a tender. we'll see.. Bea

    Sentiment: Buy

  • Bill Gross position, probably attracting yield seekers today w volume way up. this has lagged the recovery in other cef's this year, w strong yield, positive UNII etc. could get over 20 again.

    Sentiment: Buy

  • Reply to

    IRT

    by alankane77 Jun 6, 2016 2:30 PM
    beabaggage beabaggage Jun 6, 2016 3:11 PM Flag

    EQR indicating weakness last week in NY, SF (A primo properties, not the irt type small market, b/c rental stuff) w lots of supply coming on, some seeing "free" month rents to lure tenants etc. Hitting AVB, ESS as well as AIV, MAA, so probably? by default, IRT which gets lumped in with the hit.. Also some negative articles on apts on seeking alpo site..

    IRT presenting at NAREIT Tue am,, also ESS, EQR later in week, should give some perspective on the apt mkt. maybe IRT updates it's presentation or tidbits on progress w this years plan...Meanwhile recent IRT apt bldg sales have been for great prices, rents rising, executing plan to consolidate tradestreet buy. I don't see garden b/c apts being hurt like these big towers going up in all markets. oh well, long IRT and if we get a dip w summer volatility, would add.

    interesting IRET today announcing total focus on apts, in it's markets vs being diversified in med ofc, industrial etc put that one on my watch list, small players seem undervalued, big ones probably have room to fall w their low yield and the overbuilding in A space.. glta. Bea

  • beabaggage beabaggage Jun 5, 2016 10:51 AM Flag

    these pfds will pay 7% and be non cumulative. would have "preferred" a cumulative issue to interest me for protection in a slow down, but the common seems interesting as the company grows. consistently one of the better rated and managed bdc's. I am a little leary as I was burned in 2007-8 when Capital Source was hit in the recession. put arcc on my watch list. Bea

    Sentiment: Buy

MAA
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