Core Viewpoint - The article discusses the risks associated with shorting REITs, particularly in December 2025, when short interest increased as REIT prices were at their lows, suggesting that this strategy may lead to significant losses as the market rebounds in 2026 [1][3][5]. Group 1: Market Trends and Shorting Dynamics - Short interest in REITs surged in December 2025, coinciding with a market low for these assets [1][3]. - The Vanguard REIT ETF (VNQ) saw a substantial price increase in 2026, indicating that many shorts entered positions at an inopportune time [5]. - The average short position is currently underwater by about 5%, which is not unusual in the stock market [5]. Group 2: Risks of Momentum Investing - Shorting based on momentum is deemed particularly risky, as it assumes that price movements reflect underlying fundamentals, which may not always be the case [7][10]. - The average stock historically rises by 8%-9% annually, meaning that short sellers must outperform this benchmark to avoid losses [11][12]. - The asymmetry of risk in shorting is highlighted, as potential losses are theoretically unlimited while gains are capped at the stock price going to zero [17]. Group 3: Specific REITs Under Scrutiny - Centerspace (CSR) is identified as a heavily shorted REIT, with a short interest increase of 270 basis points in December [14][16]. - Other REITs with significant short interest include NETSTREIT (NTST), Acadia Realty (AKR), and Americold (COLD), each facing unique market conditions that challenge the short thesis [26][34][40]. - CSR is projected to remain profitable, with consensus estimates for FFO per share showing steady growth through 2027, making it a risky short position [20][22]. Group 4: Potential for Short Squeezes - The article suggests that CSR, NTST, AKR, and COLD are well-positioned for potential short squeezes due to high short interest and the stability of their underlying fundamentals [49][50]. - The demand for cold storage properties remains strong, indicating that Americold could recover from current oversupply issues, further complicating the short thesis [42][45]. - The overall sentiment is that shorting stable, profitable companies with high dividend yields is a precarious strategy, especially as market conditions improve [47][49].

Albert Anthony is the pen name of a Croatian-American business author who is a contributing analyst on investor platform & financial media site Seeking Alpha, where he has over +1,000 followers, & also has written for platforms like Investing dot com. He is the author of a new book on Amazon called Real Estate Investment Trusts (REITs): A Fundamental Analysis (2026 Edition).The author's career focus as a business & information systems analyst also included the IT department at top 10 financial firm Charles ...

Core Insights - Albert Anthony is a Croatian-American business author and analyst contributing to Seeking Alpha with over 1,000 followers [1] - He has authored a book titled "Real Estate Investment Trusts (REITs): A Fundamental Analysis (2026 Edition)" available on Amazon [1] - Anthony has a background in business and information systems, having worked at Charles Schwab in the IT department [1] - He operates his own boutique equities research firm, Albert Anthony & Company, remotely [1] - The author has participated in numerous business and innovation conferences and has hosted a program for Online Live TV Croatia [1] - He holds a B.A. in Political Science and various certifications including Microsoft Fundamentals and Risk Management specialization from CFI [1] - Anthony is also active on YouTube discussing REITs and is an investor in REIT stocks [1] Company and Industry Summary - Albert Anthony & Company is a Texas-registered business focused on equities research [1] - The firm provides general market commentary and research based on publicly available data [1] - The author does not engage with non-publicly traded companies, small cap stocks, or startup CEOs [1]

Investment Activity - NETSTREIT completed a record $657.1 million of gross investment activity in 2025 at a blended cash yield of 7.5%[2] - In Q4 2025, NETSTREIT made 57 investments totaling $245.4 million, resulting in a net investment activity of $198.3 million for the quarter[5] - For 2026, NETSTREIT provided AFFO per share guidance of $1.35 to $1.39, with expected net investment activity between $350 million and $450 million[9] Financial Performance - The company reaffirmed its 2025 Adjusted Funds from Operations (AFFO) per share guidance of $1.30 to $1.31[8] - The cash yield on loan repayments was 10.1% for the year ended December 31, 2025[5] Ratings and Liquidity - The company achieved an investment grade rating of BBB- from Fitch Ratings in December 2025[2] - Total liquidity as of December 31, 2025, was $1.037 billion, including $499.9 million of unused unsecured revolver capacity[7] Tenant Quality - The percentage of annualized base rent (ABR) derived from investment grade tenants was 25.8% for Q4 2025[5] Administrative Expenses - The company expects cash general and administrative expenses for 2026 to be in the range of $16 million to $17 million[9] Lease Terms - The weighted average lease term for investments was 15.0 years as of December 31, 2025[5]

Core Viewpoint - NETSTREIT Corp. reported record gross investment activity in the fourth quarter and full year 2025, indicating strong operational performance and growth potential [1] Financial Performance - The company ended 2025 with over $1.0 billion in liquidity, showcasing a robust financial position [1] - Leverage remains well below the targeted range, contributing to an investment-grade balance sheet [1] Investment Activity - The company experienced back-to-back quarters of record gross investment activity, highlighting a successful investment strategy [1] - A prefunded investment pipeline is in place, suggesting future growth opportunities [1]

Core Viewpoint - NETSTREIT Corp. has received a BBB- issuer rating from Fitch Ratings, indicating a stable outlook based on its strong property portfolio and consistent operating performance [1] Group 1: Rating and Outlook - Fitch Ratings assigned NETSTREIT Corp. a BBB- issuer rating with a stable outlook [1] - The rating reflects the company's solid property portfolio and stable operating performance [1] Group 2: Performance Metrics - The company demonstrated resilient performance during the pandemic, maintaining an occupancy rate of over 99% [1] - Fitch noted the company's solid unit-level rent coverage and minimal credit losses [1]

Group 1 - The analyst has over 10 years of experience researching more than 1000 companies across various sectors including commodities and technology [1] - The focus has shifted from writing a blog to creating a value investing-focused YouTube channel, where hundreds of companies have been researched [1] - The analyst expresses a particular interest in metals and mining stocks, while also being comfortable with other industries such as consumer discretionary, REITs, and utilities [1]

Core Insights - The analyst has over 10 years of experience researching more than 1000 companies across various sectors, including commodities and technology [1] - The focus has shifted from blogging to a value investing-oriented YouTube channel, emphasizing research on hundreds of companies [1] - The analyst shows a particular interest in metals and mining stocks, while also being knowledgeable in consumer discretionary, REITs, and utilities [1] Company and Industry Summary - The analyst's research covers a wide range of industries, indicating a diverse investment approach [1] - The transition to a YouTube channel suggests a growing trend in digital content consumption for investment insights [1] - The emphasis on value investing reflects a strategic approach to identifying potential investment opportunities in various sectors [1]

Core Viewpoint - NETSTREIT Corp. has increased the low end of its full year 2025 AFFO per share guidance due to improved visibility in various areas, including the timing of fourth quarter net investment activity [1] Group 1 - The company is well positioned to meet or potentially exceed the high end of its net investment guidance, supported by a low levered balance sheet and a strong investment pipeline [1]

Group 1 - The Annual General and Special Meeting of Shareholders of Enthusiast Gaming Holdings Inc. is being recorded [1] - Participants are informed that disclosing personal information will imply consent to the recording and use of that information [1] - The meeting is led by Alex MacDonald, the Chief Executive Officer of the company [2]