UMH

Dividend Increases/Decreases for the Week of April 4

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Below we provide a list of firms that raised their dividends during the week ending April 4. 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                          Adecoagro (AGRO): now $0.175 per share semi-annual dividend, was $0.174. Banco Santander (SAN): now EUR 0.1100 per share final dividend, was $0.1152. Bank OZK (OZK): now $0.43 per share quarterly dividend, was $0.42. Brookfield Renewable Power Preferred Equity Inc. PREF SHS CL A 2 (BRF.PR.B:CA): now CAD 0.3318 per share quarterly dividend. Compass Diversified Holdings Non-Cum Red Pfd Registered Series A (CODI.PR.A): now $0.4532 … Read more

How Some Members Use Valuentum’s Investment Services

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By Brian Nelson, CFA Thank you for your membership to Valuentum. We serve a wide variety of investors, including dividend growth investors, value investors, and pure Valuentum investors, among others. Many different types of investors and professionals use our research and financial analysis in a whole host of applications from individual stock-selection to the evaluation of closed-end funds to an overlay in a money-management setting and beyond. We wanted to make sure that you know that, if you’re a dividend growth or income investor, that there are others that use our website to utilize the Valuentum process, fair value estimates and other metrics. Similarly, if you’re a practitioner of the Valuentum system, I wanted to make sure that you are … Read more

ICYMI: Let’s Play Devil’s Advocate: What’s the Bear Case for Realty Income?

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By Brian Nelson, CFA We like Realty Income Corp. (O) a lot, but it’s not hard to see that the REIT could potentially have all the makings of a black swan. For one, the stock is loved by almost everyone–REIT investors, income investors, and dividend growth investors alike. Many are simply enamored by its monthly dividend, which it has raised nearly 120 times since it was listed on the NYSE in 1994. Over its 54-year history, the REIT has paid 632 consecutive monthly dividends, too. There’s a ton of things to like about Realty Income, but for this note, let’s build and examine the bear case, one that can be broken into three pillars: 1) its retail exposure, 2) its … Read more

Why Are the Dividends of REITs So Risky?

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By Brian Nelson, CFA Not all REIT dividends are safe. Many REITs remain capital-market dependent, and some office REITs, retail REITs, and healthcare REITs may be difficult places to generate dependable long-term income in the coming decades, in our view. Office REIT SL Green (SLG) recently cut its payout 13% on December 5, 2022, while another office REIT Vornado Realty Trust (VNO) cut its dividend 29% on January 18, 2023. These are just two of the latest high-profile REIT dividend cuts, and there may be more to come. Contrary to popular opinion, the REIT sector has not been a great source of dependable, reliable income, particularly during the COVID-19 crisis. Five REITs cut their dividends in 2019: Medalist Diversified REIT … Read more

Dividend Increases/Decreases for the Week of January 13

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Below we provide a list of firms that raised their dividends during the week ending January 13. 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                Algoma Central Corporation (TSX.ALC:CA) now CAD 0.18 per share quarterly dividend, was CAD 0.17. Alpine Banks of Colorado (ALPIB): now $0.20 per share quarterly dividend, was $0.18. Apogee (APOG): now $0.24 per share quarterly dividend, was $0.22. ATCO Ltd. (ACO.X:CA): now CAD 0.4756 per share quarterly dividend, was CAD 0.4617. Codorus Valley (CVLY): now $0.16 per share quarterly dividend, was $0.15. Gladstone Land (LAND): now … Read more

REITs May Continue to Face Pressure

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Image: The Dividend Cushion ratio is one of the most powerful financial tools an income or dividend growth investor can use in conjunction with qualitative dividend analysis. The ratio is one-of-a-kind in that it is both free-cash-flow based and forward looking. Since its creation in 2012, the Dividend Cushion ratio has forewarned readers of approximately 50 dividend cuts. We estimate its efficacy at ~90%. By Brian Nelson, CFA Times are tough for equity REITs (VNQ) and mortgage REITs (REM), with the VNQ and REM down 25% and 30%, respectively, so far in 2022. This is against a backdrop of Valuentum’s simulated Dividend Growth Newsletter portfolio and High Yield Dividend Newsletter portfolio that are doing far better. The lesson in 2022, … Read more

Dividend Increases/Decreases for the Week January 14

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Below we provide a list of firms that raised their dividends during the week ending January 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 Ally Financial (ALLY): now $0.30 per share quarterly dividend, was $0.25. Alphamin Resources (AFMJF): now CAD 0.03 per share annual dividend. Alpine Banks of Colorado (ALPIB): now $0.18 per share quarterly dividend, was $0.16. Apogee (APOG): now $0.22 per share quarterly dividend, was $0.20. Atco (ACLLF): now CAD 0.4617 per share quarterly dividend, was CAD 0.4483. BlackRock (BLK): now $4.88 per share quarterly dividend, was $4.13. … Read more

Public Storage Is Simply A Monster REIT Idea!

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Image Shown: REITs have struggled relative to other investing areas during the past 5 years. Absent the areas of crypto tokens, speculative disruptive innovators and technology, the most prudent area has been large cap growth the past five years, an area that we have been materially overweight in the newsletter portfolios. By Brian Nelson, CFA  REIT returns haven’t been that great the past several years (as shown above), but that may be no reason to fret. Some of the top yielding REITs across our coverage include Arbor Realty Trust (ABR), Iron Mountain (IRM), LTC Properties (LTC) and Omega Healthcare (OHI). These REITs come with significantly elevated risk, however. There’s one REIT that may not yield quite as much, but it … Read more

ICYMI: Valuentum’s Brian Nelson on the Latest Howard Marks’ Memo: “Something of Value”

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Valuentum’s President of Investment Research Brian Michael Nelson, CFA, explains why there are not really value and growth stocks, why most of the research in quantitative finance is spurious and needs to be redefined on a forward-looking basis, and why enterprise valuation (not the efficient markets hypothesis) should be the organizing principle of finance. Nelson explains his views about valuation, what it means to be a value investor, and investing in the context of Oaktree Capital Howard Marks’ latest memo, “Something of Value,” January 11, 2021. Please don’t forget to give the second edition of the book “Value Trap” a 5-star rating on Amazon here. Thank you for your membership! —– Tickerized for holdings in the IWM. Valuentum members have … Read more

Dividend Increases/Decreases for the Week January 15

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Below we provide a list of firms that raised their dividends during the week ending January 15. 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 Agree Realty Corporation (ADC): now $0.207 per share monthly dividend, was $0.195. Algoma Central (AGMJF): now CAD 0.17 per share quarterly dividend, was CAD 0.13. Allied Properties Real Estate Investment Trust (APYRF): now CAD 0.1417 per share monthly dividend, was CAD 0.1375. Alpine Banks of Colorado (ALPIB): now $24.00 per share quarterly dividend, was $18.00. Apogee (APOG): now $0.20 per share quarterly dividend, was $0.1875. Atco … Read more