This article was coproduced with Nicholas Ward.

In recent months, we’ve given a lot of attention to the multi-family real estate investment trust (REIT) subsector. Its relatively high-rent collection throughout the Covid-19 recession has marked it as one to watch, at the very least.

Essex Property Trust (ESS) and AvalonBay Communities (AVB), which are widely viewed as blue-chip stocks, have stood out in particular. But we also just wrote on the “grave dancer” REIT, Equity Residential (EQR).

ESS – one of just a few dividend-aristocrat REITs – and AVB have produced strong, double-digit total return compound annual growth rates (CAGRs) over the long-term. While the latter froze its dividend during the Great Recession, it didn’t cut it, which is still an impressive feat.

We continue to believe that all these companies offer rare and compelling value in today’s market environment. However, we recognize that many people have concerns about

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This article was coproduced with Dividend Sensei.

As you know, I spend most of my time in the REIT universe always on the prowl for the cheapest sleep well at night (SWANs) companies. However, I also spend time researching non REITs so that I can build my own retirement portfolio and help others achieve financial freedom.


And speaking of “financial freedom” I decided that this week, in honor of Labor Day weekend, I would write on a “Super SWAN” that’s one of my highest conviction non-REIT buys. Note that I have trimmed the article down by around 50%, but you can get the entire version at iREIT on Alpha, where we provide our safe Midstream/MLPs (updated weekly).

Source: iREIT on Alpha

In a bubble-prone market – which may or may not have burst this past week – midstream member Enterprise Products Partners (EPD) is looking especially good these days

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