Public Storage: Behind the Garage Door


Public Storage is the leading self-storage business in the US, so this is a great example of a different way to play the property theme. After the pandemic called into question what everyone always thought they knew about the resilience of property, this type of property model became more popular as investors saw self-storage as being more resilient. Resilient to pandemics, maybe. Resilient to other factors? Perhaps not so much.

Public Storage: Behind the Garage Door2024-02-28T22:05:52+02:00

Recap: Simon Property Group


In our final report for 2023, we look back on Simon Property Group. This is the apex predator in the US when it comes to retail property, owning a vast portfolio of high-end malls and investments in various other portfolios around the world. This puts the group at the centre of macroeconomic concepts like consumer spending, inflation and yield curves. What has this meant for the share price this year and the prospects in 2024?

Recap: Simon Property Group2023-12-20T18:14:16+02:00

Prologis: Safe as Warehouses


As the world’s largest owner of logistics and warehousing property, Prologis has been enjoying the tailwind from a structural shift to eCommerce. With a strong balance sheet and lots of strategic optionality, the company has achieved surprising growth from an asset class that many see as boring.

Prologis: Safe as Warehouses2023-04-26T22:28:14+02:00

American Tower: Mixed Signals


Use the podcast player below to listen to our discussion on American Tower and its Q3’22 result, which accompanies the detailed write-up below: (Date of report: 1 December 2022) In the US, the REIT sector has numerous examples of companies that aren’t traditional property businesses. American Tower falls into this category, leasing out telecommunications infrastructure rather than shopping malls or office buildings. With a global footprint and an extraordinary history of growing dividends, a cursory glance would suggest that American Tower is an obvious underpin to any portfolio. A closer look raises a few concerns about whether the company’s best days [...]

American Tower: Mixed Signals2022-11-30T22:10:58+02:00

Simon Property Group: A place to hide?


Use the podcast player below to listen to our discussion on Simon Property Group and its Q1’22 result, which accompanies the detailed write-up below: (Date of report: 19 May 2022) Inflation is on a rampage and taking markets with it. There's a bloodbath everywhere you look. We've been almost entirely bearish on the valuations of companies we've covered in Premium and now you can see why. Market corrections can be hideous things. The best thing to do right now is build up a shopping list for when things calm down. In times like these, investors look for assets that can withstand [...]

Simon Property Group: A place to hide?2022-05-19T00:21:54+02:00
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