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Strategies & Market Trends : Value Investing

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E_K_S

Jurgis Bekepuris

To: E_K_S who wrote (59252)	3/19/2017 6:39:26 PM
From: Spekulatius	2 Recommendations of 78763

The information in MNPP website, regarding the properties they hold is quite good. Their tax rate is about 36% and a good a decent chunk is state taxes. So, I think they would benefit to the tune of a $1M or so, if Trump follows through. They have been restructuring their promptly portfolio for a while now and selling properties in non-core markets and exchanging the, through 1031 exchanges for properties in the tri-state area. They mentioned talks about converting into a REIT structure, but the problem is that a huge amount of taxes becomes due because all the assets get re-valued at fair market value. MNPP pays a dividend of $35/share currently, which has been slowly rising over the years. I have not looked at banks lately because the huge runup has made finding value in this sector difficult. I am also somewhat concerned about retail commercial RE getting under pressure and if that is the case, community banks will suffer, since most of their lending goes towards commercial RE.

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