The following is an excerpt from What Changes Once Coronavirus Passes … And What Doesn’t?, originally published on Money & Markets. I don’t often go to the mall. I tend to avoid them like the plague. But that’s nothing new. I will dislike the mall no more post-coronavirus than I did before. I’m not alone. Americans...Read More

To say the coronavirus bear market has been hard on REITs would be an understatement. While the S&P 500 was down about 35% at its lowest point (thus far), the Vanguard Real Estate Index Fund (VNQ) was down 44%. And the damage in many individual REITs was far worse. As an example, triple-net retail REIT...Read More

The following is an excerpt from With the US Economy in a Deep Freeze, Is There Value in the REIT Wreck? REITs are normally a quiet corner of the market. Because they tend to pay high dividends, they’re a favorite of income-starved retirees. Well, I’m not speaking in hyperbole when I say they got their...Read More

Macquarie Infrastructure eliminated its dividend yesterday. Shares are now undervalued by at least 50%. The company owns real assets that generate real cash flows.Read More

The following is an excerpt from a piece first published on Money & Markets. I’m the first to admit I don’t know what happens next to stock prices. You could make a credible case that, while the economy might be in for its worst recession since the 1930’s Great Depression, the S&P 500 could hit new all-time highs by year’s end...Read More