JetlinerimagesOver the past several weeks, we have been revisiting some of our Strong Buy ratings. This spring, we began assigning a series of uncharacteristic Strong Buy ratings to companies across sectors. There have been critical macroeconomic shifts including the recent Federal Reserve pivot that are supporting changes in favor for certain asset classes. In other cases, there has been relative value hiding in plain sight. In our recent article covering Berkshire Hathaway (BRK.B), we discussed some o ...

Supatman/iStock via Getty Images Portfolio Quality Portfolio quality is a topic that often appears in the analysis of most net lease REITs (NETL). Beyond the analysis, the topic of quality is almost certain to trickle down into the comment section as readers opine on what makes for a “high quality” portfolio. Quality is a subjective concept and when subjectivity is applied to real estate, it seems to fall apart. Quality is usually relative. Something is superior to another. But, without a point of compa ...

howtogoto BioNTech SE (NASDAQ:BNTX) has been able to achieve several key milestones regarding its pipeline recently. Most notably, it and its partner MedLink Therapeutics [MedLink] had the lifting of the partial clinical hold by the FDA for the antibody drug conjugate [ADC] being developed for the treatment of patients with different types of solid tumors. This candidate is known as BNT326/YL202, which is being advanced in a phase 1 study. With the removal of this partial clinical hold, this allows the ...

turk_stock_photographer There are some stocks that income investors can buy and hold without having too much worry over the long run. To qualify, these stocks should have a strong track record of shareholder returns and durable revenue streams that can stand the test of time. While many companies get filtered out by this simple criterium, the ones that do make it exemplify the survival of the fittest, and can be great ‘set it and forget it’ type holdings that don’t take up too much of an investor’s time ...

matdesign24 After being one of the worst-performing sectors since the beginning of the Federal Reserve's rate hiking cycle in early 2022, real estate investment trusts (REITs) (VNQ) have flipped the script. Over the past month, they have been one of the best-performing sectors, massively outperforming tech stocks (QQQ) as well as the broader S&P 500 (SPY): Data by YCharts Moreover, there is reason to believe that this trend could continue for the foreseeable future. In this article, we will discuss why and ...

Reduces Borrowing Cost by Five Basis Points and Extends Maturity to 2029ROYAL OAK, Mich., Aug. 8, 2024  /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC) (the "Company") today announced it has entered into a Fourth Amended and Restated Revolving Credit Agreement which increases its senior unsecured revolving credit facility (the "Credit Facility") to $1.25 billion. The Credit Facility includes an accordion option that allows the Company to request additional lender commitments up to a total of $2.0 billi ...

文章核心观点 - 随着经济衰退的担忧加剧,投资者应该采取更加防御性的投资组合策略,以应对可能出现的股息减少和本金永久性损失[4] - 在构建抗衰退的高收益投资组合时,应该重点关注房地产投资信托(REITs)、中游能源、公用事业、基础设施和可再生能源以及业务发展公司(BDCs)等四大行业[4] REITs - 公司在选择REITs时,应该关注B级公寓和三重净租赁,同时还要关注公司的资产负债表状况[5] - 同意地产公司(ADC)拥有高比例的投资级租户,资产负债表稳健,其主要租户包括沃尔玛、特易购、克罗格等抗经济周期性强的行业[5] - 瑞尔收益公司(O)是业内最强大的REITs之一,具有A-级信用评级,其90%的租金收入对经济下行和电子商务冲击具有抗性[5] - 中美洲公寓社区(MAA)拥有A-级信用评级和保守的资产负债表,其物业主要集中在日光带地区,具有较强的长期增长潜力[5] 中游能源 - 企业产品合伙公司(EPD)拥有行业最强的资产负债表,信用评级为A-,杠杆率较低,流动性充足[6] - 恩布里奇公司(ENB)信用评级为BBB+,大部分收入来自监管资产和合约资产,抗风险能力强[6] - MPLX公司杠杆率较低,分红覆盖率高,分红增长稳定,现金流稳定[6] 公用事业和基础设施 - 科恩&斯蒂尔斯基础设施基金(UTF)在基础设施领域广泛多元化,分红收益率高达7.63%[7] - 布鲁克菲尔德基础设施合伙公司(BIP)和布鲁克菲尔德可再生能源合伙公司(BEP)资产组合多元化,信用评级良好,分红收益率和增长率较高[7] 业务发展公司(BDCs) - 黑石担保贷款基金(BXSL)几乎全部投资于担保优先贷款,由黑石公司支持,分红收益率10.5%[8] - 美国资本公司(ARCC)具有良好的长期业绩记录和投资级资产负债表,分红收益率9.4%[8] - 橡树资本贷款公司(OCSL)由著名信用投资者Howard Marks创办,资产负债表良好,近90%投资于担保优先贷款,分红收益率超过14%[8]

ZYNLONTA® net sales of $17.0 million in 2Q 2024; Commercial profitability achieved during first half of 2024 LOTIS-7 trial enrollment on track with efficacy and safety data on eligible patients expected by year-end 2024 and mature data on all patients expected in first half of 2025 Full enrollment in LOTIS-5 trial expected before year-end 2024 Company to host conference call today at 8:30 a.m. EDT LAUSANNE, Switzerland, Aug. 06, 2024 (GLOBE NEWSWIRE) -- ADC Therapeutics SA (NYSE: ADCT), a commercial-stage g ...

文章核心观点 - 公司2024年增长前景乐观 [1][2][3] - 公司二季度业绩稳健增长,调高全年指引 [4][8] - 公司财务状况良好,有足够资金支持未来投资 [6][7][9] - 公司未来有较长的增长空间,股息有望持续增长 [9][10] 公司概况 - 公司是一家零售地产投资信托基金(REIT),拥有超过4%的股息收益率 [2] - 公司过去10年股息年复合增长率达5.7% [2] - 公司主要从事零售物业的收购和运营 [2][9] 业绩表现 - 二季度调整后每股基金营运收益(FFO)同比增长6.4%至1.04美元 [4] - 上半年调整后每股FFO同比增长5.5%至2.07美元 [4] - 公司今年已投资3.43亿美元收购102处零售物业 [4] - 公司调高全年调整后每股FFO指引至4.11-4.14美元,较此前指引上调 [8] 财务状况 - 公司二季度发行320万股股票,筹集1.95亿美元现金 [6] - 公司资产负债率仅4.1倍,流动性充足 [6] - 公司新增10亿美元信贷额度,到期日延长至2029年 [6] - 公司今年计划投资7亿美元收购物业,超出此前指引 [7] - 公司还有1.01亿美元投资于25个开发项目 [7] 未来前景 - 公司保守的股息支付比率和充足的流动性,为未来投资提供支持 [9] - 公司现有租户拥有16.6万处物业,为公司未来收购提供长期增长空间 [9] - 公司有望凭借稳健的财务状况和丰富的增长机会,持续增加股息 [10]

EonerenThis article was written by Christopher H. Volk. Net lease REITs are special. I have some perspective here, having taken three such companies public, two of which I conceived and co-founded. At the top of my list is that net lease REITs provide an essential form of efficient real estate capital for thousands of companies. The three public REITs we operated helped our many customers grow, creating wealth for their collective shareholders, employees, and other stakeholders. Close behind helping so ...