Realty Income
Quick Covenant Review on Realty Income (O) and Comparison to American Campus Communities
Submitted by Reggie Middleton on 10/23/2009 06:14 -0500Here is a quick look at the Ackman short, O's covenant risk and a comparison to the cash shortage at American Campus Communities. ACC's issues are more imminent!
Reggie Middleton on the Recent Ackman Short - Realty Income "O"
Submitted by Reggie Middleton on 10/22/2009 02:29 -0500The REIT space has seen share prices pop significantly in this extended bear market rally. This, along with a few financial shenanigans, seems to have masked the effect that a literal real estate depression has had on those entities which buy, sell, develop and hold real estate. The fundamentals and macro outlook are still horrendous, yet share prices have been elevated significantly. Ackman, from Pershing Square, has released his short thesis on the REIT Realty Income, and I throw my 22 cents in (it was 2 cents, but I levered up 10x), as well as offer another REIT with a greater cash flow problem...
