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Video: Quants! You’re NOT Measuring VALUE and Nelson’s Theory of Universal Value

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President of Investment Research Brian Nelson defines the concept of universal value and shows how quantitative statistical methods are inextricably linked to those of fundamental, financial, business-model related analysis. Value does not exist in respective process vacuums! Value is universal. Find out why. Running time: ~10 minutes.  Tickerized for Valuentum’s stock and ETF coverage universe. Transcript Hi this is Brian Nelson from Valuentum Securities, and this is the tenth edition of a series that I call “Off the Cuff,” where I get in front of the camera and I talk for ten minutes. This is what we have to talk about today. We have to talk about this concept: The Theory of Universal Value. Value does not exist in vacuums … Read more

Omega Healthcare and Holly Energy Partners: Case Studies in REIT and MLP Income Evaluation

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An assessment of a REIT’s or MLP’s dividend/distribution strength not only should reflect firm-specific fundamentals, but also external market conditions, which are paramount to the sustainability of most any REIT’s or MLP’s payout. Let’s remind readers of this important dynamic, which is captured via the two different Dividend Cushion ratios, and walk through what goes into the analysis we pursue when making a change with respect to our assessment of a company’s dividend health or safety. By Kris Rosemann and Brian Nelson, CFA Real estate investment trusts (REITs) and master limited partnerships (MLPs) are not your typical operating companies. These business structures have certain provisions that incentivize lofty and growing dividends/distributions, which sounds good, but because these business models tend … Read more

Realty Income Has Avoided Much of the Trouble in Retail

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Image Source: Realty Income Realty Income’s dividend track record largely speaks for itself, and the REIT may be one of the most attractive in its peer universe. With a focus on some of the strongest retail tenants, it has largely avoided most of the trouble in retail, too. The REIT recently declared its 566th consecutive common stock monthly dividend. By Brian Nelson, CFA Those that don’t know Realty Income (O) should get to know it. The real estate investment trust (REIT) isn’t called the ‘Monthly Dividend Company’ for no reason. Its dividend growth track record is simply a sight to see (1), and the company’s dividend yield is still relatively attractive at ~4.6%, better than the that of the average … Read more

Dividend Increases/Decreases for the Week Ending June 16

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Below we provide a list of firms that raised/lowered their dividends during the week ending June 16. 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 Bed Bath & Beyond (BBBY): now $0.15 per share quarterly dividend, was $0.13. Capital Southwest (CSWC): now $0.21 per share quarterly dividend, was $0.19. Caterpillar (CAT): now $0.78 per share quarterly dividend, was $0.77. El Paso Electric (EE): now $0.335 per share quarterly dividend, was $0.31. Farmers & Merchants Bancorp (FMAO): now $0.25 per share quarterly dividend, was $0.23. FedEx (FDX): now $0.50 per share quarterly … Read more

Valuentum’s 3 Breakthroughs in the Field of Finance and More

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Valuentum’s President Brian Nelson pauses for a picture before speaking at the CFA Society of Houston in March 2017. By Valuentum Editorial Staff Let’s cover Valuentum’s 3 major breakthroughs in the field of finance. The first one is big and may challenge you to rethink everything you think you know about investing. 1. On a logical framework, Valuentum has debunked John C. Bogle’s landmark syllogism that has paved the way for the concept of index investing. Index investing has been built on a logical shortcoming, whether supported by evidence or not. We think it is important that the investment community know of this. Read (pdf): The “Luck” and “Randomness” of Index Funds (2018), Brian Nelson, CFA See video documentation: /FALLACY_of_Index_Funds To … Read more

Dividend Increases/Decreases for the Week Ending March 17

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Below we provide a list of firms that raised/lowered their dividends during the week ending March 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 AirBoss of America (ABSSF): now CAD 0.07 per share quarterly dividend, was CAD 0.065. Ashford Hospitality Prime (AHP): now $0.16 per share quarterly dividend, was $0.12. CareTrust REIT (CTRE): now $0.185 per share quarterly dividend, was $0.17. CECO Environmental (CECE): now $0.075 per share quarterly dividend, was $0.066. Dollar General (DG): now $0.26 per share quarterly dividend, was $0.25. Federal Agricultural Mortgage (AGM): now $0.36 per … Read more

Dividend Increases/Decreases for the Week Ending December 30

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Below we provide a list of firms that raised/lowered their dividends during the week ending December 30. 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 Fifth Street Asset Management (FSAM): now $0.125 per share quarterly dividend, was $0.10. Formula Systems (FORTY): now $0.48 per share semi-annual dividend, was $0.34. Raymond James Financial (RJF): now $0.22 per share quarterly dividend, was $0.20. Stryker (SYK): now $0.425 per share quarterly dividend, was $0.38. W.P. Carey (WPC): now $0.99 per share quarterly dividend, was $0.985. Firms Lowering Their Dividends This Week                                   Tortoise Index Solutions … 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 September 23

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Below we provide a list of firms that raised/lowered their dividends during the week ending September 23. 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 8point3 Energy Partners (CAFD): now $0.2406 per share quarterly dividend, was $0.2325. ALPS Cohen & Steers Global Realty Majors ETF (GRI): now $0.382421 per share quarterly dividend, was $0.312204. Ameris Bancorp (ABCB): now $0.10 per share quarterly dividend, was $0.05. ATN International (ATNI): now $0.34 per share quarterly dividend, was $0.32. Bank of South Carolina (BKSC): now $0.14 per share quarterly dividend, was $0.13. BIOQUAL (BIOQ): … Read more

Dividend Increases/Decreases for the Week Ending June 17

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Below we provide a list of firms that raised/lowered their dividends during the week ending June 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 Ashford Hospitality Prime (AHP): now $0.12 per share quarterly dividend, was $0.10. Farmers & Merchants Bancorp (FMAO): now $0.23 per share quarterly dividend, was $0.22. Fidelity Nasdaq Composite Index Tracking ETF (ONEQ): now $0.54 per share quarterly dividend, was $0.49. Investar (ISTR): now $0.01 per share quarterly dividend, was $0.009. Mesa Royalty Trust (MTR): now $0.0358 per share monthly dividend, was $0.0221. Realty Income (O): now … Read more