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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Grommit who wrote (62387)	8/18/2019 4:20:53 PM
From: Spekulatius	Respond to of 78778

Re GRIF - it started out as a c-corp (Griffin‘s nursery) and was one of the companies in Walkers manual of OTC stocks. i am guessing they never reincorporated as. reit for tax reasons, because if they had done so, a huge tax bill (for regulation of assets to fair market value ) comes due. Also, keep in mind that they are more e developer at this point than an operator, so the taxation matters a bit less. The main attraction to GRIF is that it’s very cheap relative to peers, based on a presentation of their website they trade at ~50% of NAV and building value through development. And yes, their warehouses are smaller and more matched to smaller operators compared to Amazon for example. griffinindustrial.com

To: Grommit who wrote (62387)	8/21/2019 4:58:32 PM
From: Paul Senior	Read Replies (1) \| Respond to of 78778

Congrats once again, Grommit, on your perspicacity in acquiring these mfg/warehousing reits stocks. Going forward perhaps the line of sight does indeed remain clear with "little downside risk due to e. commerce demands". Its's going to have to be that because stocks like LPT seem now near all time highs and the distribution percentages (yields) are small. I am considering whether to add one or more. Maybe not too late. Otoh, I'm attracted to class A mall properties like Macerich (MAC) where the line of sight apparently is also clear --> down (i.e the over-malled USA problem). But with that, I get a 10% distribution (annualized yield... which (sigh) keeps increasing as the stock falls), and a relatively (relative to itself) low stock price. At some point there'll be a leveling off of demand for mfg/warehousing/ e-commerce real estate stocks, and a leveling off of oversupply of mall reit. If it's in a couple three years, perhaps the best bet is to go with your picks in the e-commerce area.