real estate – BCN Stay http://bcn-stay.com/ Sun, 13 Mar 2022 12:13:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://bcn-stay.com/wp-content/uploads/2021/06/icon-2-150x150.png real estate – BCN Stay http://bcn-stay.com/ 32 32 Medical Properties: A Stock for Long-Term Dividend Investors (NYSE:MPW) https://bcn-stay.com/medical-properties-a-stock-for-long-term-dividend-investors-nysempw/ Sun, 13 Mar 2022 12:13:00 +0000 https://bcn-stay.com/medical-properties-a-stock-for-long-term-dividend-investors-nysempw/ Imaginima/E+ via Getty Images Investment thesis Medical Properties Trust (NYSE: MPW) is a self-managed real estate investment trust (REIT). They acquire and develop healthcare facilities and lease them to operators under long-term net leases where the tenant bears most of the maintenance costs. Although not their main line of business, they also provide mortgage loans […]]]>

Imaginima/E+ via Getty Images

Investment thesis

Medical Properties Trust (NYSE: MPW) is a self-managed real estate investment trust (REIT). They acquire and develop healthcare facilities and lease them to operators under long-term net leases where the tenant bears most of the maintenance costs. Although not their main line of business, they also provide mortgage loans to the operator, securing real estate assets.

Medical Properties Trust has grown rapidly since its inception in 2003 and now has investments in 437 facilities with 46,000 licensed beds in the United States, Europe, Australia and South America. In times of uncertainty and high inflation, a quality REIT like Medical Properties Trust is a great place to put your money. I believe Medical Properties Trust is an excellent investment for the long-term dividend investor because:

  • Medical Properties Trust posted exceptional results in 2021, surpassing the record performance of 2020.
  • Medical Properties Trust continues to grow rapidly, while simultaneously reducing exposure to its main tenant (Steward Health).
  • They have very strong cash flow and the dividend is safe. Their inflation-protected leases provide additional insurance for shareholders.

Excellent 2021 results for MPW

Medical Properties Trust reported profits in early February, and they were outstanding. Normalized Adjusted Operating Funds (AFFO) per share for 2021 was $1.75, indicating double-digit growth over 2020. This is noteworthy given that their 2020 AFFO was up 17% year-on-year annual. Looking at revenues across all segments, billed rents increased by 25%, linear rents increased by 52%, finance leases decreased by 2%, and interest and other income increased by 18%.

Medical properties Financial results

Financial result (SEC)

This solid performance is a testament to the superb business model and the quality of their management team. In a year filled with many challenges covering labor shortages, office closures and outbreaks of new variants of Covid, the achievement of results by Medical Properties Trust is truly remarkable. Not only have they managed current operations well, but they have also completed numerous acquisitions in 2021 to fuel additional growth.

Aggressive but well controlled growth

Over the past decade, Medical Properties Trust has grown very aggressively. Their gross assets grew by 31% annually between 2010 and 2020, and they show no signs of slowing down. They started 2021 with a $1 billion+ investment in one of the UK’s leading behavioral health providers (Priory Group). In October 2021, they acquired 18 additional behavioral health hospitals and a stake in operator, Springstone LLC. Additionally, they acquired 5 general acute care hospitals in South Florida from Tenet Healthcare.

Medical Property Trust Growth Trajectory

Growth trajectory of Medical Properties Trust (Medical Properties Trust Investor Relations)

These acquisition targets follow a very aggressive growth plan, which remains well controlled. They add geographic diversity (32 different states in the US and around the world) and functional diversity (general acute care, behavioral health, inpatient rehabilitation, etc.). In addition, they have actively reduced exposure to their main tenant (Steward Health), which now represents less than 19% of their portfolio. This well-diversified portfolio offers great operational stability and reduces the risk of overexposure to a particular region or single trader.

Medical Properties strong cash and risk management

In recent years, their AFFO has grown well and the pace of growth is accelerating. The AFFO growth rate for 5-year CAGR, 3-year CAGR, and 3-year CAGR is 3.74%, 6.01%, and 13.22%, respectively. Reflecting this strong cash flow growth, the dividend has kept pace. The 5-year dividend growth rate was 4.24%, and they just announced another 4% dividend increase in mid-February. Given their aggressive growth trajectory, I expect the dividend payout to continue to grow for the foreseeable future.

Another area where Medical Properties Trust takes care to manage risk is by including an inflation protection clause in its lease structure. Almost all of their leases contain some sort of rent escalation, and about 90% of agreements have inflation-adjusted escalations. As we are all very familiar with inflation these days, this inflation-protected lease provides an extra layer of assurance to shareholders.

I really find this clause insightful. We’ve been living in a sub-3% inflation environment for a few decades at this point, so I haven’t thought about that clause too much before. However, I now understand that having this type of clause in their lease structure shows the experience and thoroughness of the management of Medical Properties Trust.

Medical Property Trust Lease Structure

Medical Properties Trust Lease Structure (Medical Properties Trust Investor Relations)

Medical Properties - Inflation Protected Leases

Inflation protected leases (Medical Properties Trust Investor Relations)

MPW Share – Fair Value Estimate

Based on price versus AFFO, the Medical Properties Trust is significantly undervalued by the market. Their AFFO price ratio is 14.6x, which is well below the industry median of 20.0x. Based on the price/FFO ratio, a similar undervaluation is observed. Given Medical Properties Trust’s superb growth trajectory and strong cash flow, I believe this undervaluation is unwarranted and expect its stock price to appreciate near the median of the sector. This price move would represent stock appreciation of around 25% as well as a strong dividend yield of 5.7%.

Risk

Although Medical Properties Trust is doing an excellent job of managing its portfolio and reducing the risks associated with tenant concentration, their largest tenant, Steward Health, still represents 19% of the portfolio. Therefore, an underperformance of Steward Health would have a material negative impact on Medical Properties Trust. However, Steward performs very well with near 3x coverage. Meanwhile, Medical Properties Trust continues to reduce its exposure. Therefore, I believe that this risk of tenant concentration is managed.

Medical Properties Trust’s aggressive growth trajectory is very exciting to watch as an investor. However, aggressive growth means heavy borrowing, and Medical Properties Trust does not have a strong balance sheet. They are highly leveraged ($10.91 billion vs. cash $459 million) and their leverage ratio (134%) is one of the highest in the peer group. Therefore, the investor should pay attention to his level of indebtedness and his ability to service the debt.

Conclusion

Medical Properties Trust presents an excellent investment opportunity for a long-term dividend investor. They’ve grown at a rapid pace for a while, and I expect them to continue to do so. They have diversified their portfolio geographically and functionally to reduce risk. AFFO has made good progress and I expect them to increase their dividend payout in line with their past rate (~4%). Investors should monitor the balance sheet as well as the performance of Steward Health given their relatively high exposure. I expect a 25% upside on top of the 5.7% dividend yield going forward.

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KSS shareholders face a tough choice https://bcn-stay.com/kss-shareholders-face-a-tough-choice/ Sat, 12 Mar 2022 00:21:37 +0000 https://bcn-stay.com/kss-shareholders-face-a-tough-choice/ The junkmen come for Kohls (NYSE:KSS) Inventory. Source: Various Photographs/Shutterstock.com Since December, activist investors have been pushing the company to sell or at least divest its real estate and e-commerce units. The board responded by rejecting two takeover offers and adopting a “poison pill” aimed at preventing a “hostile takeover”. The pressure increased last month […]]]>

The junkmen come for Kohls (NYSE:KSS) Inventory.

Source: Various Photographs/Shutterstock.com

Since December, activist investors have been pushing the company to sell or at least divest its real estate and e-commerce units. The board responded by rejecting two takeover offers and adopting a “poison pill” aimed at preventing a “hostile takeover”.

The pressure increased last month when Jonathan Duskin Macellum Group appointed a set of replacement directors.

Managing Director Michelle Gass’ multi-year turnaround plan may now prove unnecessary, even though the stock has risen 121% in the past two years.

why they want it

Retail stocks, like KSS shares, have become hot commodities of late as investors pick survivors of the pandemic, separating the winners from the near winners.

Discounters love walmart (NYSE:WMT), Wholesale Costco (NASDAQ:COST) and General dollar (NYSE:CEO) all seem to be winners. Kohl’s is looking more and more like a near-winner, which activists say means he’s a loser.

Placer.Ai, which tracks retail visitors, says Kohl’s foot traffic quickly rebounded to less than 10% of its pre-pandemic level. Kohl’s earned $938 million, $6.32 a share, on sales of $19.5 billion in the year ending January. It said its Christmas quarter earnings of $2.20 per share beat expectations.

It’s not enough for Macellum, who says stock in Target (NYSE:TGT) and TJX (NYSE:TJX) perform better than Kohl. Kohl shares rose nearly 30% after Macellum announced his challenge to the board and held half of that gain even against board resistance.

Can beauty save KSS stocks?

Prior to Gass, Kohl’s was known as a discount department store focused on suburban malls. Gass’ hiring in 2018 was always meant to change that formula. Industry analysts now call Kohl’s “anti-mall” for its stores-within-a-store strategy.

Under Gass, some of Kohl’s real estate was leased as Planet Fitness (NASDAQ:PLNT) locations or Amazon.Com (NASDAQ:AMZN) pick-up locations. Kohl’s also became home to full-price retailers who had lost distribution, such as under protection (NYSE:UAA) and LVMH (OTCMKTS:LVMUY) Sephora unit, which was previously at JC Penney.

Gass now hopes the Sephora connection can save his strategy. Placer.AI says beauty specialty stores have recently been a bright spot for retail. At an “Investor Day” event this month, Gass said she plans to open 400 Sephora stores in Kohl stores in 2022. Placer.Ai says Kohl’s sees an uptick in sales in the rest as a result. of its stores. Gass wants to make Sephora a $2 billion business for Kohl’s. But she still predicts low single-digit growth for the channel.

The basics of KSS shares

When Macellum announced its slate, Kohl’s reportedly sent its business jet to Seattle, Amazon’s home base. Since then, there has been speculation that Amazon might make an offer, seeing it as a cheap way to kick-start its brick-and-mortar retail ambitions.

Analysts said they weren’t impressed with Kohl’s investor day, but it’s unclear whether Macellum’s strategy is any better.

The only buyers to step in so far are private equity firms that want to break up Kohl’s. Starboard Value would have offered $9 billion, but that’s not a huge premium to Kohl’s current market cap of $7.6 billion.

Starboard’s plan appears to be to secure debt financing and then finance the purchase with Kohl’s own real estate through a sale-leaseback. This would lock Kohl’s into long-term leases, which for critics like Bank of America (NYSE:BAC), looks like what killed Sears.

Gass acknowledged some mistakes. She wants to open 100 new stores in the next few years, but admits they will be smaller than current locations.

The choice for investors is now between a risky strategy and a dissolution of the company. If I owned the stocks now, my heart would prefer the strategy, but my head would seek to see Starboard’s money.

As of the date of publication, Dana Blankenhorn held a long-time position with AMZN, BAC and DG. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publication guidelines.

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Housing rental increases by 48% in Tehran city in one month over one year https://bcn-stay.com/housing-rental-increases-by-48-in-tehran-city-in-one-month-over-one-year/ Sat, 05 Mar 2022 11:20:46 +0000 https://bcn-stay.com/housing-rental-increases-by-48-in-tehran-city-in-one-month-over-one-year/ TEHRAN – The Central Bank of Iran (CBI) has announced that the price of renting has increased by 48.4% in the city of Tehran during the eleventh Iranian calendar month Bahman (ending February 19), compared to the same month of last year. The CBI also announced that the average house price increased by 0.4% in […]]]>

TEHRAN – The Central Bank of Iran (CBI) has announced that the price of renting has increased by 48.4% in the city of Tehran during the eleventh Iranian calendar month Bahman (ending February 19), compared to the same month of last year.

The CBI also announced that the average house price increased by 0.4% in the capital Tehran during the eleventh month, compared to the previous month, and by 16.4% compared to the same month last year. .

Housing prices in Iran have steadily increased over the past year due to various internal and external factors.

And, for the coming months, a number of factors are mentioned to affect the housing market in Iran.

One factor is the possibility of reviving a 2015 nuclear deal signed between Iran and world powers.

Some experts believe that if the mentioned agreement, known as the Joint Comprehensive Plan of Action (JCPOA), is revived, the price of housing will see its biggest drop in history.

As Mostafa Gholi Khosravi, head of Iran’s Syndicate of Real Estate Advisers, recently said: “The housing market is awaiting the results of the [JCPOA] negotiations, and with the positive shock that the agreements bring to the market, sales will increase in the coming months”.

He thinks the market will stabilize towards the buyer and the price will decrease.

MOM

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Economic activity in services declines slightly in February but remains in growth mode https://bcn-stay.com/economic-activity-in-services-declines-slightly-in-february-but-remains-in-growth-mode/ Fri, 04 Mar 2022 11:27:04 +0000 https://bcn-stay.com/economic-activity-in-services-declines-slightly-in-february-but-remains-in-growth-mode/ Economic activity in the services sector increased in February for the 21st consecutive month, with the services PMI registering 56.5%, according to the latest services ISM Business reports from Supply Management Institute. “In February, the Services PMI came in at 56.5%, 3.4 percentage points below January’s reading of 59.9%,” said Anthony Nieves, CPSM, CPM, APP, […]]]>

Economic activity in the services sector increased in February for the 21st consecutive month, with the services PMI registering 56.5%, according to the latest services ISM Business reports from Supply Management Institute.

“In February, the Services PMI came in at 56.5%, 3.4 percentage points below January’s reading of 59.9%,” said Anthony Nieves, CPSM, CPM, APP, CFPM, Chairman of the ISM’s committee of inquiry into service companies. “The business activity index recorded 55.1%, a fall of 4.8 percentage points from January’s reading of 59.9%, and the new orders index figure of 56, 1% is 5.6 percentage points lower than January’s reading of 61.7%.

“The Supplier Shipments Index recorded 66.2%, 0.5 percentage points higher than the 65.7% reported in January. (Supplier Shipments is the only ISM Business report index which is inverted; a reading above 50% indicates slower deliveries, which is typical as the economy improves and customer demand increases.)

“The price index recorded 83.1%, up 0.8 percentage points from January’s figure of 82.3%. Services companies are beginning to replenish inventories, as the inventory index (50.8%, up 1.4 percentage points from January’s reading of 49.4%) and the Inventory sentiment (55.3%, up 7.8 percentage points from January’s reading of 47.5%) rose in February. to emerge from a contraction or “too low” territory.

“According to the services PMI, 14 industries recorded growth. The composite index showed growth for the 21st consecutive month after a two-month contraction in April and May 2020. Although there was a pullback for most of the indices that make up the services PMI in February, growth slowed down. continues for the service sector, which has expanded in all but two of the past 145 months. Respondents continue to be impacted by supply chain disruptions, capacity constraints, inflation, logistical challenges and labor shortages. These conditions have affected the ability of panelists’ businesses to meet demand, resulting in slower business activity and economic growth.

The 14 service industries with growth in February included construction, transportation and warehousing, and mining. The four industries reporting declines in February were real estate, rental and leasing; arts, entertainment and recreation; agriculture, forestry, fishing and hunting; and accommodation and food services.

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1 pot of broth too good to ignore https://bcn-stay.com/1-pot-of-broth-too-good-to-ignore/ Fri, 04 Mar 2022 11:02:00 +0000 https://bcn-stay.com/1-pot-of-broth-too-good-to-ignore/ The cannabis industry may be struggling right now, but that doesn’t mean marijuana stocks aren’t worth investing in. Like any other evolving industry, it is bound to experience ups and downs. The industry’s growth is evident from the fact that even companies that don’t grow cannabis are reaping the benefits of rapid expansion. Such a […]]]>

The cannabis industry may be struggling right now, but that doesn’t mean marijuana stocks aren’t worth investing in. Like any other evolving industry, it is bound to experience ups and downs. The industry’s growth is evident from the fact that even companies that don’t grow cannabis are reaping the benefits of rapid expansion.

Such a company is Innovative industrial properties ( IIPR -2.67% ). It’s not a pure cannabis business. It is a real estate investment trust (REIT) that provides capital solutions to medical cannabis companies in the United States. She has done extremely well in recent years; its recent exceptional fourth quarter results are proof of this. Another strong quarter sent this stock up 7%. Let’s dig deeper.

Image source: Getty Images.

Innovative has a unique business model

Cannabis is federally illegal in the United States, which is why cannabis companies struggle to find capital to set up large production facilities. Here, Innovative comes to the rescue. The company has devised a business model where it acquires these properties and then leases them to cannabis companies under a sale-leaseback system. In return, the business earns rental income, its only source of income, which has proven to be more than enough for it to excel so far.

Acquisitions boost Innovative’s revenue. The company acquired 37 new properties in 2021, bringing its total footprint to 103 properties (100% of its properties are leased) totaling 7.7 million leasable square feet in 19 states. Innovative’s weighted average lease term is 16.7 years, meaning it will continue to generate revenue for many years to come. It’s a relief for investors who fear that the federal legalization of cannabis in the United States will hamper Innovative’s growth.

While there is no positive movement toward federal legalization yet, state legalization continues to accelerate. In February, Mississippi became the 37th state to legalize medical marijuana. Innovative management believes it is highly likely that Nebraska, Idaho, Oklahoma, Arkansas, Missouri, Ohio, North Dakota and Maryland will legalize either form of cannabis this year.

Some of the Innovative’s tenants include popular cannabis players. Trulieve Cannabis, Cresco Laboratories, Curafeuille Holdingsand Green Thumb Industries have all experienced a wave of expansion since 2020. These companies intend to expand aggressively this year, which will bring more business to Innovative.

An exceptional end to the year 2021

Total revenue jumped 59% year-over-year to $59 million, while net profit rose to $28.3 million from $21 million a year ago. year. For the full year, the company generated $204 million in revenue and $117 million in net profit, a 75% year-over-year increase.

Given the impressive and continued performance, analysts now expect total 2023 revenue to reach $280 million, a 139% jump from 2020 levels.

Management said the acquisition and leasing of new properties drove the successful 2021 performance. Innovative is also maintaining its balance sheet while growing revenue and earnings. He ended the year with $406 million in cash, cash equivalents and short-term investments.

Icing on the cake: Innovative is a dividend stock

Innovative is both a growth stock and an income stock, which makes it an even more attractive investment. It has a dividend yield of 3.1%, not very high but well above that of the S&P500 average of 1.3%.

But the important thing to consider when choosing a dividend stock is consistency of dividend payouts rather than just yield. Innovative increased its quarterly dividend payout by 28% year over year to $1.50 per share in the third quarter. This is the 12th time the company has raised its dividend since its IPO. Additionally, being a REIT, the company is legally required to return 90% of its net profits to shareholders. Regular dividend payments are also a sign that the company is increasing its profits at a steady rate.

In the case of a REIT, adjusted funds from operations (AFFO) is used to measure earnings remaining to be paid out as dividends (similar to net income for a non-REIT). In Innovative’s fourth quarter, AFFOs jumped to $48.5 million from $32 million a year ago.

Not growing cannabis protects Innovative from the challenges the industry faces. But some investors worry that federal legalization (if and when it happens) could hamper the growth of this stock, as cannabis companies would have an easier time raising capital from sources other than Innovative.

However, if legalization occurs, the legal market will expand to great heights. So there will always be small businesses that find it harder to get capital from financial institutions, turning to Innovative for help. As state legalization continues in 2022 and beyond, so will cannabis business expansion plans, increasing Innovative’s growth prospects.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a high-end consulting service Motley Fool. We are heterogeneous! Challenging an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and wealthier.

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VTS closes 2021 record, doubling in size and becoming the industry’s leading tenant experience and building operations platform https://bcn-stay.com/vts-closes-2021-record-doubling-in-size-and-becoming-the-industrys-leading-tenant-experience-and-building-operations-platform/ Thu, 03 Mar 2022 14:00:00 +0000 https://bcn-stay.com/vts-closes-2021-record-doubling-in-size-and-becoming-the-industrys-leading-tenant-experience-and-building-operations-platform/ NEW YORK–(BUSINESS WIRE)–VTS, the commercial real estate (CRE) industry’s leading leasing, marketing, asset management and tenant experience technology platform, today announced that after a banner year in 2021, it is now used by 19 of the top 20 global asset managers, and over 300,000 tenant companies are managed across the platform, making it the most […]]]>

NEW YORK–(BUSINESS WIRE)–VTS, the commercial real estate (CRE) industry’s leading leasing, marketing, asset management and tenant experience technology platform, today announced that after a banner year in 2021, it is now used by 19 of the top 20 global asset managers, and over 300,000 tenant companies are managed across the platform, making it the most widely used CRE software. In 2021 alone, the VTS platform saw a volume of over $31 billion in executed leases, with over 2 billion square feet of assets added. VTS captures the industry’s largest first-party dataset, delivering real-time insights that fuel faster, more informed decision-making and connections throughout the transaction and asset lifecycle. Today more than 87,000 office, commercial, industrial and multi-family buildings are managed on VTS in 44 countries.

Over the past year, VTS has more than doubled the size of our team as well as the number of capabilities in our platform to help our customer base navigate the new world. We have created a fully integrated solution that allows them to manage the entire asset lifecycle in a modern, automated and data-driven way, from marketing available space to tenant experience,” said Nick Romito, CEO of VTS. “2021 has proven to be a pivotal year for commercial real estate – with landlords and tenants putting return-to-office plans in place as we navigate back to normality, and we are proud to have supported our customers and the industry as a whole with continued innovation through one of the most challenging times in history.

Commitment to providing cutting-edge data and innovative products

Following the 2020 release of VTS Market, CRE’s first integrated marketing automation platform that enables owners and their agency teams to digitize the entire process of bringing space to market online, leading operators such as Tishman Speyer, Brookfield Properties, Empire State Realty Trust, Hines, Oxford Properties Group and RXR have chosen VTS Market as their system of record for digital rentals and marketing. Later that year, VTS announced the availability of VTS Data, the industry’s only forward-looking market data product. VTS Data is the premier source of information on what’s happening in the market today, capturing active, real-time tenant demand and projecting future supply fluctuations. Following the launch of VTS Data, the company introduced the monthly VTS Office Demand Index (VODI) report, which is the first available indicator of upcoming office leases and tenant sentiment, accounting for up to 99% of new demand of office space in seven market centers, including New York, Los Angeles, Washington DC, San Francisco, Boston, Chicago and Seattle. Throughout 2021, VODI has become the leading source of market available office demand data, recognized internationally by several leading publications, including CNBC, Bloomberg, Fast Company, Reuters, Forbes and The Wall Street Journal. . “VODI has been a game-changer for the commercial real estate industry as it is the only real-time source of active tenant demand in the market, providing the public with the most comprehensive overview of the office market in nationwide,” said Ryan Masiello, Chief Strategy Officer at VTS. “The COVID-19 pandemic has left a lasting impact on the country’s office market, and with this data we are able to provide key insights to the industry that enable stronger and more informed decision-making.

Unparalleled investment in tenant experience

In March 2021, one year after the start of the COVID-19 pandemic, VTS announcement it has reached an agreement to acquire Rise Buildings, the property operations technology and tenant experience company used by major landlords including Sterling Bay, Blackstone and CIM Group. With this acquisition, VTS has expanded its industry-leading offerings for landlords, ensuring they have the best technology they need to operate as efficiently as possible and create the best environment for tenants as part of COVID-19 recovery and beyond. In October 2021, VTS also acquired Lane, the work experience platform used by leading owners such as Brookfield, Oxford, as well as Hines. Through these acquisitions, VTS has invested hundreds of millions of dollars in the tenant experience and solidified its position as the number one TenEx solution in the world. With VTS Rise, VTS now provides the industry with a fully integrated platform comprising four major product offerings that help commercial owners, operators, investors, developers and users.

In the fourth quarter alone, VTS Rise experienced incredible speed with 26 new owners adopting the technology. Today, VTS holds the largest global customer base for TenEx, with 3 million addressable users in 1,500 buildings in 13 countries using VTS Rise, making it the global market leader.

Appointment to key management

In October 2021, VTS appointed Margaretta Noonan, a seasoned Software-as-a-Service (SaaS) human resources manager, as the company’s director of human resources. In this newly created role, Margaretta was responsible for leading the rapidly growing and strategic VTS team and shaping a best-in-class employee experience. Prior to VTS, Margaretta led HR at several leading global public companies such as Monster and Hudson, in addition to founding her own human resources and HR consulting practice. Under his leadership, the number of VTS employees doubled in 2021 to nearly 700 at the start of 2022.

Exceptional workplace recognition

In 2021, VTS received significant recognition from business, innovation and real estate, totaling over 16 wins, including:

Fortune Best Workplaces in New York 2021

GlobeSt’s 2022 influencers in CRE Tech

Crain’s New York company is notable in real estate

The Best Built In Workplaces of 2021

GlobeSt’s Best CRE Bosses

ConnectCRE Next Generation Award

Real Estate Power 100 List 2021

Great Place To Work Certification 2021

Forbes Cloud 100 2021

ConnectCRE’s Women in Real Estate 2021

VTS recognized at CREtech’s 2021 Real Estate Tech Awards – RETAS

Trade Observer Innovator Forum Award

Battery / Glassdoor’s Top Rated Cloud Computing Companies to Work For

UK Proptech Association Awards – Scaling at Pace Award

PropertyWeek Awards – Best Covid Response Award

EG Rewards

Accelerating returns in 2022

The leading annual innovation conference for commercial real estate executives, Accelerate, hosted by VTS, returns in 2022 after a hiatus in 2020 and 2021 due to the COVID-19 pandemic. The first event, to be held May 3-4 in New York City, will bring together more than 400 innovative executives and influential thought leaders to discuss the technologies, trends and ideas that define modern commercial real estate. Accelerate 2022 will feature two days of content, including presentations from prominent guest speakers and VTS executives, breakout sessions with influential commercial real estate leaders and technology visionaries, educational content for users of VTS and networking events. The conference was specifically designed to educate C-Suite members and senior executives on the modernization of commercial real estate and how large companies are adapting their strategies to stay competitive. Outside of VTS, speakers will include Barry Sternlicht, Chairman and CEO of Starwood Capital Group, Jonathan Neman, co-founder and CEO of sweetgreen, and Jamie Hodari, CEO and co-founder of Industrious. Accelerate 2022 will be held at Convene at Brookfield Place, located in Lower Manhattan. For more information, including event registration, visit accelerate.vts.com

ABOUT VTS

VTS is the leading commercial real estate leasing, marketing, asset management and tenant experience platform where the industry comes together to bring deals to life and bring real-time data to life. The VTS platform captures the industry’s largest source of first-party data, which delivers real-time insights that fuel faster, more informed decision-making and connections throughout the deal lifecycle and actives. VTS Data, the industry’s only forward-looking market dataset, and VTS Market and Marketplace, the industry’s first integrated online marketing solution, provide landlords, brokers and tenants with unparalleled visibility into timely market information. real estate and direct connectivity to execute transactions with greater speed and intelligence at every stage of the planning, marketing, leasing and asset management cycle. VTS Rise is the industry’s most comprehensive tenant experience solution, providing occupants, building operators and visitors with an immersive, technology-based experience. More than 60% of Class A office space in the United States and 12 billion square feet of office, retail and industrial real estate worldwide are managed on the VTS platform. The VTS user base includes over 45,000 CRE professionals, including respected industry leaders like Blackstone, Brookfield Properties, LaSalle Investment Management, Hines, Boston Properties, Oxford Properties, JLL and CBRE. To learn more about VTS and to see our open roles, visit www.vts.com.

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ACMI Aircraft Leasing Market to Witness Huge Growth by 2029 https://bcn-stay.com/acmi-aircraft-leasing-market-to-witness-huge-growth-by-2029/ Thu, 03 Mar 2022 02:38:48 +0000 https://bcn-stay.com/acmi-aircraft-leasing-market-to-witness-huge-growth-by-2029/ The ACMI Aircraft Leasing market research report offers enjoyable insights that helps market players to equip themselves to scale with the changes and secure a strong market position in this ACMI Aircraft Leasing competitive for a longer period. This report is prepared in an easy to understand language that includes helpful statistics that indicate end […]]]>

The ACMI Aircraft Leasing market research report offers enjoyable insights that helps market players to equip themselves to scale with the changes and secure a strong market position in this ACMI Aircraft Leasing competitive for a longer period. This report is prepared in an easy to understand language that includes helpful statistics that indicate end result oriented thoughts to benefit a competitive area in this market. This report emphasizes key opportunities and market trends and market dynamics consisting of drivers and demanding situations.

Get the sample PDF copy (including full TOC, charts and tables) of this report @: https://www.a2zmarketresearch.com/sample-request/282688

Some of the top companies influencing this market include:

Aviation Capital Group LLC, DAE, Macquarie Air Finance, Chapman Freeborn, AerCap, Avolon, BOC Aviation, GECAS, Orix Aviation, Air Exchange, Nordic Aviation Capital, Ford Aviation, AirCastle, Boeing, Air Lease Corporation, AVICO, ZELA Aviation, SMBC Aviation Capital, BBAM, ICBC Leasing.

Methodologies used to study the ACMI aircraft leasing market:

Research analysts and market experts have used smart and sophisticated market research tools and methodologies that include primary and secondary research techniques. They held phone meetings to collect identified data with the entire ABC industry. They also refer to organization sites, government records, public statements, annual and financial reports, and association databases that have been cross-checked with reliable sources.

Analytics used for analyze aircraft ACMI lease data-

The ACMI Aircraft Leasing market report utilizes quantitative as well as qualitative investigation that will most likely help different market players (new and established) to recognize the key development pockets in the market. Additionally, the report offers Porters Five Forces review, SWOT analysis, and PESTLE survey to increasingly analyze concrete correlations and other significant factors. It also uses a top-down and bottom-up research approach to analyze improvement patterns and marketing channels. Finally, the possibility of new venture capital activities is also assessed.

ACMI- Aircraft Leasing Market Segmentation:

The ACMI Aircraft Leasing Market offers market segmentation analysis for this growing and savvy ACMI Aircraft Leasing market so that players can recognize the genuinely needed market segments that can possibly improve their performance in this competitive market.

Market Segmentation: By Type

ACMI lease (lease with services), lease without services

Market Segmentation: By Application

Private/Business Jets, Commercial Jets

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This market research report delves deeper into the global aircraft ACMI leasing market. It highlights the recent market scenario, growth in recent years, and opportunities for manufacturers in the future. The research methods and tools used in carrying out this study fall under both primary and secondary research. The study further presents details of the investments initiated by several organizations, institutions, governmental and non-governmental bodies.

The study presents an assessment of the factors expected to inhibit or drive the progress of the global Aircraft ACMI Leasing market. The global ACMI Aircraft Leasing Market has been extensively examined on the basis of key criteria such as end-user, application, product, technology, and region. An analysis has been provided in the report of major geographical segments along with their market share and position. The estimated revenue and volume growth of the global Aircraft ACMI Leasing market has also been offered in the report.

Effectiveness of this Aircraft ACMI Leasing Market Report-

  • Each area of ​​the report has something important to offer players to improve their raw edge, offers and advertising technique, and overall revenue.
  • Recognizes market development patterns, size, and offerings, guiding players and portions of the Aircraft ACMI Leasing Market.
  • Investigate key business needs to help organizations realign their business methodologies.
  • Allows players to create powerful long-haul methodologies.
  • Create business increase designs by considerable development giving created and growing markets.

Contents

Global Aircraft ACMI Leasing Market Research Report 2022-2029

Chapter 1 Aircraft ACMI Leasing Market Overview

Chapter 2 Global Economic Impact on Industry

Chapter 3 Global Market Competition by Manufacturers

Chapter 4 Global Production, Revenue (Value) by Region

Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions

Chapter 6 Global Production, Revenue (Value), Price Trend by Type

Chapter 7 Global Market Analysis by Application

Chapter 8 Manufacturing Cost Analysis

Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers

Chapter 10 Marketing Strategy Analysis, Distributors/Traders

Chapter 11 Market Effect Factors Analysis

Chapter 12 – Global Aircraft ACMI Leasing Market Forecast

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Muskox Eyes Market Expansion for Snowblower Accessories: CEG https://bcn-stay.com/muskox-eyes-market-expansion-for-snowblower-accessories-ceg/ Wed, 02 Mar 2022 18:49:00 +0000 https://bcn-stay.com/muskox-eyes-market-expansion-for-snowblower-accessories-ceg/ The rear-drag feature of the Muskox 22-78 Two-Way Snow Blower Attachment, which the Bergmans received the patent for in the spring of 2021, allows operators to blow snow while dragging rearward past obstacles, which which saves time and money and reduces any risk of injury by decreasing the manual labor typically involved in the process. […]]]>

The rear-drag feature of the Muskox 22-78 Two-Way Snow Blower Attachment, which the Bergmans received the patent for in the spring of 2021, allows operators to blow snow while dragging rearward past obstacles, which which saves time and money and reduces any risk of injury by decreasing the manual labor typically involved in the process. The lowered chute, a result of the fine-tuning process, is also better for operator visibility. (Photo musk ox)

For many in the design and architecture industries, less is more is a mantra. For the Bergmans, this principle proved true with the October 2020 launch of their Musk ox two-way snow blower attachment. Taking a well-known industry problem and creating a streamlined solution has seen the Minnesota-based company achieve great success over the past few months, despite launching during the pandemic.

“My dad Ron, who is also my partner, used to do some snow removal in his shop. He used two different attachments to do it,” said Adam Bergman, co-founder of Muskox. “He came up with the idea of ​​combining these machines, so he would only have to use one attachment. I was trained as a real estate investor, and we do snow removal on all of our rental properties. biggest problem we had was shoveling in front of the garage doors.”

Adam saw the potential not only for stores but also for homeowner associations to use such a solution. Prototyping began in the spring of 2017 and product development over the next few years included a hydraulic friction clutch and redesigning the bottom of the machine to incorporate a slip plate to prevent crashes on rough surfaces. grass or gravel.

“Whether you’re 8 or 80, you understand the challenge with existing snowblowers of having to shovel in front of garage doors, it’s a universal problem,” Adam said. “When you see ours where you have the ability to back off and blow at the same time, you instantly see the value and what makes our product different.”

In 2020, Muskox took first place in Northwest Minnesota Foundation IDEA Competition receiving a cash prize of $15,000 and another $5,000 in professional services in recognition of his innovative product. The rear-drag feature of the Muskox 22-78 Two-Way Snow Blower Attachment, which the Bergmans received the patent for in the spring of 2021, allows operators to blow snow while dragging rearward past obstacles, which which saves time and money and reduces any risk of injury by decreasing the manual labor typically involved in the process. The lowered chute, a result of the fine-tuning process, is also better for operator visibility.

The 78 inch. The machine is available in single auger and double auger, but Muskox plans to expand to other sizes. They turned to operators from snow removal companies to test the product.

“We’ve had a lot of positive feedback from operators letting us know where they’d like to see our next steps,” Adam said. “We are operators building for operators. We have had many requests for different sizes on smaller and larger machines.”

Muskox’s core team is made up of co-founder Adam, who manages business development, marketing and fundraising; his father Ron, a retired engineer from Arctic Cat Snowmobiles — where he did snowmobile research and development for more than 30 years — who leads in-house engineering, research and development; and Adam’s younger brother, Noah, who handles production and shipping.

All manufacturing takes place at the company site in Mentor, Minnesota, and sales offices are in Grand Forks, ND Muskox is 100% made in the USA, offers a one-year warranty on all parts not laptops and stores inventory to be shipped to customers. for repairs.

“When we started, we were doing R&D in my dad’s 2,000 square foot personal store. have moved in and this is currently where we do product assembly. We have had a successful season and we continue to grow the business, there will be opportunities for growth and potential expansion into a larger facility” , said Adam.

About 90 percent of Muskox’s sales are direct to consumer while the rest are in partnership with RDO equipment, through which Muskox is sold in 36 different locations. In 2021, Muskox was sold in 16 states in the United States and two provinces in Canada. Consumers include those buying for personal use in their store or farm, small operators who focus on driveways and residential snow removal, and large operators with multiple HOA accounts.

Muskox found its strength in its online presence, creating a loyal customer base online.

“We’ve created all of our own YouTube videos explaining how we have a service manual available on the internet so consumers can tune in anytime, and they’ll find a library of videos showing not just how to use the product, best practices, but also any type of maintenance and repair,” said Adam, who offers virtual demos of the equipment every Wednesday at 11:00 a.m. Central and is on Facebook Live and YouTube. “It gives us the opportunity to interact with people interested in the product. We show the product in use, we can play with the machine according to the questions they asked. We can also flip the camera inside the cabin and make it work from the operator’s point of view. There’s been a lot of positive feedback.”

There are of course pros and cons to an online approach.

“Probably just to meet product demand,” Adam said. “The internet exposes you really quickly, it can be your best friend, but it can also present real challenges because you’re going to be held accountable a lot faster on a much bigger platform. We were able to accept that, but the growth of the “company has exponentially exceeded our expectations. We are very proud to have built this company with a solid foundation from engineering to marketing to branding to product in 15 months and we look forward to grow and have a strong future based on this foundation that has been established.” CEG

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Culturally appropriate housing is ‘missing’ | 7NEWS https://bcn-stay.com/culturally-appropriate-housing-is-missing-7news/ Wed, 02 Mar 2022 05:50:00 +0000 https://bcn-stay.com/culturally-appropriate-housing-is-missing-7news/ A greater diversity of culturally appropriate housing for Indigenous Australians is needed, according to a leading research body. The Australian Housing and Town Planning Research Institute released a study on Wednesday looking at Indigenous tenancies. According to 2016 census data from the Australian Bureau of Statistics, 39.4% of Indigenous Australians own their homes, compared to […]]]>

A greater diversity of culturally appropriate housing for Indigenous Australians is needed, according to a leading research body.

The Australian Housing and Town Planning Research Institute released a study on Wednesday looking at Indigenous tenancies.

According to 2016 census data from the Australian Bureau of Statistics, 39.4% of Indigenous Australians own their homes, compared to 68% of non-Indigenous households.

Almost 60% of Indigenous Australians live in rental accommodation, compared to around 30% of non-Indigenous Australians.

“Indigenous people typically face direct and indirect discrimination when looking for property in the private rental market,” said lead researcher Dr Megan Moskos.

“This discrimination is accompanied by a lack of affordable and culturally appropriate housing for Indigenous people and long waiting lists for public housing.

“The housing available to Indigenous tenants may not properly match cultural norms and lifestyles, or with respect to household size and composition.”

The research examined three case studies of housing programs in very remote, regional and metropolitan areas.

“We identified that the cultural differences between how Indigenous and Western families use housing were not sufficiently taken into account in the provision of rental housing services and rental agreements,” said Dr Moskos.

She said the traditional responsibilities of Indigenous tenants to house extended family members could conflict with landlord expectations.

The report notes that Aboriginal people are less likely than the rest of the population to live in a non-family household.

The proportion of multi-family households is significantly higher among Indigenous households in very remote Australia, he also noted.

The report found that there is a need for an adequate diversity of properties that meet the cultural and family requirements of Aboriginal households.

One case study respondent stated that an important aspect of “successful tenancy” for an Aboriginal family is the right home.

“It’s culturally appropriate so that, you know…there are actually enough rooms for people,” they said.

“I think it’s also very important, it’s not just inside the house. It’s outside the house. That there’s a decent yard… a decent veranda .Because people naturally…are out there…because they like to congregate and wire.”

An Aboriginal rental seeker said he was not taken seriously by private real estate.

“I have a house, a car, I have everything. I’m still ranked in the lower class,” they said.

The report found that successful rentals have been aided by programs that work with all members of a household and allow for regular engagement.

“For example, in the past, housing policy has explicitly aimed to place Indigenous people in public housing in outlying areas where public transportation, employment and educational opportunities are lacking,” it reads.

“Partnerships between government departments and Indigenous organizations to co-design policies and programs are needed.

“Our research also suggested that better housing allocation policies are needed to ensure that Indigenous tenants have increased choice and are better able to access suitable property in their preferred location.”

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Iron Mountain Stock: Record Earnings, Over 5% Return, 10% Growth in 2022 (NYSE: IRM) https://bcn-stay.com/iron-mountain-stock-record-earnings-over-5-return-10-growth-in-2022-nyse-irm/ Fri, 25 Feb 2022 14:15:00 +0000 https://bcn-stay.com/iron-mountain-stock-record-earnings-over-5-return-10-growth-in-2022-nyse-irm/ Jordan Siemens/DigitalVision via Getty Images Iron Mountain (IRM), known as the world’s largest document storage company, is a REIT that has added more technology to its offerings in recent years, via its expansion into data centers. Profile: Iron Mountain (IRM) was founded by Herman Knaust. In 1936 he “purchased the original site of Iron Mountain […]]]>

Jordan Siemens/DigitalVision via Getty Images

Iron Mountain (IRM), known as the world’s largest document storage company, is a REIT that has added more technology to its offerings in recent years, via its expansion into data centers.

Profile:

Iron Mountain (IRM) was founded by Herman Knaust. In 1936 he “purchased the original site of Iron Mountain – a depleted iron ore mine with 100 acres of land – where he started a mushroom farm.

Knaust’s decision in 1945 to sponsor the resettlement of many Jewish immigrants – who lost their identities due to missing personal records during World War II – to the United States is what spurred the idea to start protecting information. vital wars or other disasters in its mine.s.” (MRI to place)

Traditionally known as a document storage REIT, IRM has expanded its data center holdings to 15 facilities on three continents since 2017.

Earnings:

IRM delivered strong fourth quarter 2021 results – its highest ever quarterly revenue of $1.16 billion, driving 8.5% of total organic revenue growth, with services revenue up around 20%, adjusted EBITDA increased by 15%, with a record EBITDA of $431 million. AFFO increased by 40% and NFFO by 25%. There was organic growth in storage rental revenue of 4% for the fourth quarter, 2.6% for the full year, reflecting the continued price advantage combined with positive volume trends.

Full-year 2021 net income rose 32% to $453 million, with revenue, AFFO and adjusted EBITDA all posting record amounts. The number of shares was flat in 2021, with AFFO/Share of $3.48, above management’s 2021 guidance range of $3.33 to $3.45.

2021 Adjusted EBITDA was in line with management guidance of $1,635m, up 10.75% from 2020. AFFO of $1,012m was slightly higher than management guidance of $1,005m $.

Total global volume increased by 2.4% in 2021, reaching a record 744 million cubic feet. Although no segment earnings growth figures have yet been released, IRM’s global data center team leased 49 megawatts in 2021, exceeding the annual target of 30 megawatts. They leased 27 megawatts in the fourth quarter.

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Orientation 2022:

Management released strong guidance for 2022, forecasting 10%-13% growth in EBITDA, 14-17% in revenue and 7-11% in AFFO. This forecast includes approximately $450 million in revenue from the new ITRenew acquisition.

Management also released guidance for the first quarter of 2022. It expects total revenue to exceed $1.2 billion, EBITDA to exceed $425 million and AFFOs to exceed $250 million. dollars.

orientation 2022

IRM website

New acquisition :

In January 2022, IRM completed the acquisition of ITRenew, a global leader in mission-critical data center lifecycle management solutions. With the transaction, Iron Mountain acquired 80% of the outstanding shares of ITRenew on a cash and debt-free basis for approximately $725 million in cash, with the remaining 20% ​​vesting within three years of closing for a value of minimum business of $925 million. .

Dividends:

At $44.20, IRM yields 5.60%, with an average five-year dividend growth rate of 4.34%. Management has maintained the current quarterly dividend of $0.6185 since the fourth quarter of 2019. IRM is expected to go ex-dividend on ~3/11/22.

dividend schedule

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IRM’s AFFO dividend payout ratio improved significantly in 2021, reaching a low of 67.23% in Q4 21 and an average of 71.09% for the full year, down 11 .8% compared to 2020.

Management has a long-term target AFFO payout ratio in the low to mid-60s, which is not that far from the fourth quarter ratio. They plan to maintain the current quarterly dividend of $0.6185 until this payout ratio is achieved.

dividend coverage

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Taxes:

IRM’s distributions in 2021 were characterized as ~54% Section 199A dividends, ~13% qualified, with ~20% capital gains and 11% return of capital.

2021 dividend tax

IRM website

Profitability and leverage:

IRM’s ROE jumped 52% in 2021, to 46.45%, while its ROA and EBITDA margin also increased. Net debt/EBITDA leverage improved to 5.48X, while debt/equity jumped from 7.66X to 9.45X.

Management’s long-term target leverage ratio is a range of 4.5x to 5.5x, with IRM entering the upper range in Q4 21 at 5.48X.

deer

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It was the equity portion of this debt-to-equity ratio that changed the most in 2021, falling about 25%, to $857 million, while debt increased about 5%.

Debt Equity

IRM website

Debt and liquidity:

As of 12/31/21, IRM had approximately $2 billion in liquidity, with 90% of its debt at an average fixed rate of 4.8% and an average maturity of 7.1X years. Management expects leverage to be around 5.4X in 2022.

debt

IRM website

Estimates:

At $44.20, IRM has a price/AFFO per share of 12.70, considerably below the specialty REIT average of 19.22. Its P/Sale and EV/EBITDA are also well below average, while its P/Book is well above, as is its dividend yield.

However, take these medium-sized specialty REITs with a grain of salt, since this sub-sector is a mix of disparate industries, ranging from cell towers to lumber, prisons to casinos and more.

IRM is unique as the dominant company in document storage. Its growing data center business probably only accounts for about 10% of the company’s revenue, but if you compared IRM to Digital Realty, you’d see that DLR has a P/AFFO of 21.16 and an EV/EBITDA of 23.67.

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Performance:

Technology and real estate have retreated in 2022 as we enter a new era of rising rates. IRM has outperformed the real estate sector and the S&P 500 over the past year, but has lagged them so far in 2022.

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Analyst price targets:

At $44.20, IRM is around 10% below analysts’ low price target of $49, 13% below the midpoint target price of $51.00 and 18% below their target price the higher of $54.00.

price targets

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Parting Thoughts:

While it may not be among the highest yielding income vehicles we cover in our articles, IRM currently offers an attractive dividend yield of 5.6% and looks set to continue growing its earnings in 2022. In addition, management intends to maintain the current dividend, but may increase it when leverage consistently hits its 4.5X to 5.6X range.

All charts are provided by Hidden Dividend Stocks Plus unless otherwise stated.

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