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Realty Income Signals Turbulence Ahead, Shores Up Liquidity Position

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Image Source: Realty Income Corporation – First Quarter of 2020 Earnings IR Presentation By Callum Turcan On May 4, the real estate investment trust (‘REIT’) Realty Income Corporation (O) posted first-quarter 2020 earnings that saw its adjusted funds from operations (‘AFFO’) per share jump by over 7% year-over-year, hitting $0.78 last quarter. Realty Income pays out a monthly dividend, and shares of O yield ~5.1% as of this writing. We like the REIT’s business model, which invests in single-tenant commercial properties, and we view Realty Income as well-positioned to ride out the ongoing coronavirus (‘COVID-19’) pandemic. However, we caution that its near-term financial performance will come under fire from some of its tenants no longer being able to (or willing … Read more

Brace for More Volatility

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Image shown: The S&P 500 ETF (SPY) since August of last year. The markets have broken through key support levels, and now support has become resistance. Volatility remains heightened since the low-vol ETN blew up in February. This article is the introduction to both the Dividend Growth Newsletter and High Yield Dividend Newsletter, both of which will be released today due to the holiday January 1. By Brian Nelson, CFA Markets are facing big pressure on the trading session January 3. There’s more to the story than rising interest rates. There’s more to the story than the US-China trade war. There’s more to the story than concerns about the political environment. Price-agnostic (indexing and quant) trading, as I outline in … Read more

Dividend Increases/Decreases for the Week Ending July 20

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Below we provide a list of firms that raised their dividends during the week ending July 20. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week 1st Source (SRCE): now $0.25 per share quarterly dividend, was $0.24. Ally Financial (ALLY): now $0.15 per share quarterly dividend, was $0.13. Antero Midstream GP (AMGP): now $0.125 per share quarterly dividend, was $0.108. Antero Midstream Partners (AM): now $0.415 per share quarterly dividend, was $0.39. AptarGroup (ATR): now $0.34 per share quarterly dividend, was $0.32. Aqua America (WTR): now $0.219 per share quarterly dividend, was … Read more

Dividend Growth: The SPDR Dividend ETF Is One of Many Ideas

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The dividend is a symptom of a company’s free cash flow, and therefore not a driver behind an estimate of a company’s intrinsic value. Dividend-paying and dividend-growing stocks have done very well in the past, but it may be equally important to pay attention to the underlying valuations of ideas, too. You just can’t stop at analyzing the dividend payment. Don’t let the “yield” tail wag the “value” dog. By Brian Nelson, CFA There is a reason why we call ourselves Value-ntum. That’s because we put value first! But there are instances where share prices can catch sustained favor in part due to a dividend payment. The growth component of the dividend may also offer investors an ever-rising income stream, … Read more

Dividend Increases/Decreases for the Week Ending July 14

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Below we provide a list of firms that raised/lowered their dividends during the week ending July 14. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week Acme United (ACU): now $0.11 per share quarterly dividend, was $0.10. Antero Midstream (AM): now $0.32 per share quarterly dividend, was $0.30. Ares Dynamic Credit Allocation Fund (ARDC): now $0.1050 per share monthly dividend, was $0.1025. Basset Furniture (BSET): now $0.11 per share quarterly dividend, was $0.10. China Petroleum & Chemical (SNP): now $2.2013 per share semi-annual dividend, was $1.0532. Computer Services (CSVI): now $0.31 per … Read more

Podcast: REITs, Interest Rates and Beyond!

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The Valuentum analyst team talks REITs and the reasons why REIT investors should pay close attention to changes in Treasury rates. Various secular themes across the data center, healthcare, office, and mall REITs are discussed, and an explanation for the sector’s systematically poor raw, unadjusted Dividend Cushion ratios is covered. ~8 mins. Tickerized for various ETFs and the holdings in the VNQ. Brian Nelson, CFA: In September, REITs were officially broken out from the financial sector to their own sector of the S&P 500 — some 30 or so stocks with $600 billion in market capitalization, or about 3% of the S&P 500. Could this change have marked a peak in performance for equity and mortgage REIT stocks? Are investors … Read more

Dividend Increases/Decreases for the Week Ending July 17

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Below we provide a list of firms that raised/lowered their dividends during the week ending July 17. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week Antero Midstream (AM): now $0.19 per share quarterly dividend, was $0.18. Bassett Furniture (BSET): now $0.09 per share quarterly dividend, was $0.08. Carnival (CCL): now $0.30 per share quarterly dividend, was $0.25. Carnival (CUK): now $0.30 per share quarterly dividend, was $0.25. Codorus Valley Bancorp (CVLY): now $0.13 per share quarterly dividend, was $0.125. Computer Services (CSVI): now $0.25 per share quarterly dividend, was $0.22. CONE … Read more

The Dividend Dilemma

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One of the core tenets of the Valuentum process not only rests in the all-important price vs. value consideration (see Valuentum’s Brian Nelson talk about that here), but also in “letting winners run.” At first read, these two items appear to be at odds with each other. For example, we preach about getting stocks at a bargain, but yet, we don’t sell holdings when they start to move beyond our estimate of their fair value. What gives? At the Valuentum core, we prefer an entry point that corresponds to the time when shares have substantial valuation and pricing support (i.e. they have high Valuentum Buying Index ratings), and we prefer an exit point when shares have little valuation and pricing … Read more

Dividend Increases for the Week Ending July 18

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Below we provide a list of firms that raised their dividends during the week ending July 18. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week Bassett Furniture (BSET): now $0.08 per share quarterly dividend, was $0.06. CIT Group (CIT): now $0.15 per share quarterly dividend, was $0.10. Education Realty Trust (EDR): now $0.12 per share quarterly dividend, was $0.11. Fidelity Southern (LION): now $0.09 per share quarterly dividend, was $0.08. Goodyear (GT): now $0.06 per share quarterly dividend, was $0.05. Greene County Bancorp (GCBC): now $0.18 per share quarterly dividend, was … Read more

Firms Raising Their Dividend In the Week Ending July 19 Included Kinder Morgan and Omega Healthcare

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Below we provide a list of firms that increased/decreased their dividends for the week ending July 19. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports, please click here. Increases Amphenol (APH): now $0.20 per share quarterly dividend, was $0.105. Bassett Furniture (BSET): now $0.06 per share quarterly dividend, was $0.05. CARBO Ceramics (CRR): now $0.30 per share quarterly dividend, was $0.27. Education Realty (EDR): now $0.11 per share quarterly dividend, was $0.10. El Paso Pipeline Partners (EPB): now 0.63 per share quarterly distribution, was $0.62. First Community Corporation (FCCO): now $0.06 per share quarterly dividend, was $0.05. Home Loan Servicing Solutions (HLSS) declares quarterly dividend of $0.15 per … Read more