Speaking of blue chips, REIT sector really took a beating today. This was mainly caused by tenant issues Spirit Realty is having. Realty Income Corporation has demonstrated such a quality that I wouldn’t mind adding to it even if it would have similar short term issues itself. Sure, online sales and companies such as Amazon are a risk for it but very reasonable one given the tenant base Realty Income has. So I decided to buy additional 27 shares for 55,14 USD per share.
VEREIT on the other hand was slightly undervalued, in my books, even before this dip. Therefore it wasn’t very difficult to find reasoning for buying additional 150 shares for 7,57 USD per share. VEREIT really isn’t a key holding of mine but the turnaround is impressive and I have high hopes for 2018 and 2019. Debt reduction is on track and after these purchases I really should follow their lead on that.
https://seekingalpha.com/news/3263616-triple-net-lease-players-sink-alongside-plunge-spirit-realty
https://seekingalpha.com/pr/16821049-vereit-announces-first-quarter-2017-operating-results