1. The leases only have 3% fixed rent reviews, so your income is not inflation protected. As inflation increases, then interest rates increase, your rental growth cannot offset it. 2. They locked in a good amount of hedging, so their distributions have fallen somewhat but as hedges roll off over the next 12-24 months, their distributions will decrease much more. 3. Like all REIT's, management buy and lever up at the top of the cycle (and carry out buybacks at high SP) and then destroy shareholder value by selling as values get cheaper.
I've been watching WPR for sometime but it is not cheap enough yet in my opinion.
WPR Price at posting:
$2.18 Sentiment: Sell Disclosure: Not Held
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