ocracoke, congrats on the FET pick! Along with sitting on nice cap appreciation, you have the higher yield from your original investment pricing. Very astute; AREITs were out of favor a couple of years ago even though interest rates were falling. The market was slow to heal from the GFC fiascos, I guess.
As I've said earlier, for TIX and other AREITS (GOZ is my only other AREIT), I'm happy with the distribution and annual 3-4% growth with low volatility. They stabilize our OZ portfolio and provide reasonably predictable income (not needed now, but eventually in retirement). Even so, AREIT growth comes in spurts. GOZ jumped 10% this past months and 15% since June after sitting flat for the past 18 months. Other AREITs also rose, presumably on good assumptions that interest rates will remain flat or possibly fall.
Relative to most AREITS, TIX has the advantages of (a) low (7%) premium to NTA with maybe more NTA growth forthcoming, (b) quality industrial properties (good tenant demand, unlike office), (c) fairly good WALE, and (d) seems to have a smart team of professionals at 360 Capital running the show.
TIX Price at posting:
$2.37 Sentiment: None Disclosure: Held
