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Recent Articles
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Digital Realty Trust Has Bucked Broader REIT Sector Weakness
Feb 17, 2024
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Image: Digital Realty Trust has outperformed the broader REIT sector by quite the margin since the beginning of 2023.
Real estate investors have had a difficult time the past year, with shares of the Vanguard Real Estate Index ETF falling roughly 6% versus a 22%+ return on the S&P 500, both measured on a price-only basis. Data center REIT Digital Realty, however, has bucked the trend of the broader real estate sector’s weakness advancing 20% over the same time period on a price only basis. Digital Realty’s fourth-quarter results and guidance for 2024, released February 15, weren’t great, but the company is much better positioned than other REITs, in our view. Shares yield ~3.6% at the time of this writing.
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Latest Report Updates
Feb 16, 2024
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Check out the latest report updates on the website.
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Dividend Increases/Decreases for the Week of February 16
Feb 16, 2024
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Let's take a look at firms raising/lowering their dividends this week.
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Cisco Looks Cheap at 13x Forward Non-GAAP Earnings But Fundamentals Are Deteriorating
Feb 15, 2024
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Image: Cisco has ratcheted down expectations during the past couple quarters, and its shares have been choppy for the better part of a year now.
We’re not liking what we’re seeing from Cisco Systems these days, and this is a change from our generally more upbeat view during the past several months. Revenue is under pressure, guidance continues to come in lower than expectations, its balance sheet will weaken as a result of its pending deal for Splunk, and free cash flow trends haven’t been as strong as they used to be. The company is adjusting its cost structure with layoffs as it continues to work to transform its business model to be more recurring, but the near term will likely continue to be challenging for the company. If free cash flow does not meaningfully improve in the next couple quarters, we’ll look to remove Cisco from the newsletter portfolios, despite its attractive ~13x forward non-GAAP earnings multiple.
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