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Strategies & Market Trends : Dividend investing for retirement

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To: Ditchdigger who wrote (33228)	12/2/2020 8:51:25 AM
From: E_K_S	Read Replies (1) of 34328

Starting to build a position in High End Mall REIT MAC at $10/share or lower. Their reduced dividend now $0.6/year, yields 6% at the current price. MAC has some challenges to exit the COVAD event but they have FFO and money in the bank to work through 2021. Capital projects have been pushed out and those include re-purposing some of their footprint into multi-use tenants (Sears exit and different multi-use tenants on board w/ new leases). The stock is currently priced (1) below BV and (2) at a Cap rate less than 1.25% (normal is between 4%-6%). Company still has debt to pay down and/or refinance (July 2021 is when revolver needs to be extended). Debt/Equity very high at 2.18x. Some of their properties carry mortgages and others are held free and clear. If things get worse, there are marginal properties that can go back to the bank w/ little impact on the current valuation. This is still speculative and w/ their Market Cap only $1.5 Billion, MAC could also be a potential acquisition candidate. There are some excellent Youtube videos that go over the value proposition (I posted one on the Value Income thread). FWIW, have a few buys w/ avg cost at $10.04/share

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