If I Was Retiring In 10-20 Years With 10 REITs - Part 3

Economic Overview - The Federal Reserve is expected to cut interest rates in September, with the market debating the extent of the cut, likely between 0.25% and 0.50% [1][2] - Revised jobs data indicates a slowing economy, while Consumer Price Index (CPI) data shows cooling inflation, meaning prices are still rising but at a slower rate [2] Real Estate Investment Trusts (REITs) Performance - REITs have been performing well, with the Vanguard Real Estate Index Fund ETF Shares (VNQ) up 11.2% year-to-date, compared to the S&P 500's 17.6% [4] - The current market conditions present a favorable opportunity for investing in REITs, particularly for those with a long-term investment horizon [4][6] NETSTREIT Corp. (NTST) - NTST specializes in single-tenant, freestanding retail properties with a market cap of approximately $1.3 billion and a portfolio of 649 investments across 45 states [9] - The company boasts a 100% occupancy rate and a weighted average lease term (WALT) of 9.5 years, with 68.9% of its annualized base rent (ABR) coming from investment-grade tenants [9][10] - Despite challenges faced by some top tenants like Dollar General and Walgreens, NTST's long lease terms and high-quality tenant base provide resilience [11][12] Kite Realty Group Trust (KRG) - KRG focuses on developing and operating open-air shopping centers, primarily in the Sunbelt region, with a market cap of approximately $5.8 billion [15] - The company derives nearly 70% of its ABR from the Sunbelt, with 79% of its properties being grocery-anchored [16] - KRG has reported strong leasing spreads, with comparable new cash leasing spreads of 41.3% in 2023, indicating robust demand for retail space [19] VICI Properties Inc. (VICI) - VICI is an experiential REIT with a market cap of approximately $35.2 billion, owning a portfolio of iconic gaming and entertainment properties [26][28] - The company has a WALT of 41.2 years and has maintained a 100% occupancy rate and rent collection since its formation [30][33] - VICI's strong balance sheet includes a BBB- credit rating, with solid debt metrics and no debt maturities due in 2024 [35] Plymouth Industrial REIT, Inc. (PLYM) - PLYM specializes in industrial properties with a market cap of approximately $1.1 billion and a portfolio that is 97% occupied [38] - The company is strategically positioned in the "Golden Triangle" region, which is attractive for industrial growth due to its economic significance and infrastructure [38][41] - Analysts expect PLYM's AFFO per share to increase by 6% in 2024, with a current P/AFFO of 12.75x, indicating potential for growth [46]