Core Insights - Terreno Realty Corporation (TRNO) has announced the pre-leasing of 76,000 square feet in Countyline Corporate Park, Phase IV, Building 36, with the lease commencing in Q1 2027 and expiring in July 2037 [1] - An existing lease with an international logistics management company has been expanded by 29,000 square feet, bringing Building 36 to 100% leased status, indicating strong demand for industrial assets [2] - The Countyline Corporate Park Phase IV project spans 121 acres and will feature 2.2 million square feet of industrial distribution buildings, with an investment volume of approximately $511.5 million [3] Leasing Performance - As of September 30, 2025, TRNO's operating portfolio was 96.2% leased, with the same-store portfolio at 98.6% leased [4] - The leased rate for the improved land portfolio of 44 parcels was 93.1% as of the same date [4] - Cash rents on new and renewed leases during Q3 2025 increased by 17.2%, with a tenant retention ratio of 68.7% for the operating portfolio [5] Strategic Positioning - TRNO is well-positioned for long-term growth opportunities due to its solid operating platform, healthy balance sheet, and strategic expansion moves, despite macroeconomic uncertainties [6] - The company has experienced a 7.1% share price increase over the past three months, outperforming the industry average of 0.2% [7] Project Momentum - The completion of Building 36 aligns with TRNO's 2027 project timeline and enhances the momentum of Phase IV [8]

Core Insights - Land & Buildings Investment Management has completely liquidated its stake in Kite Realty Group Trust, which previously constituted over 3% of the fund's portfolio, indicating a significant shift in sentiment towards retail real estate [1][3]. Company Overview - Kite Realty Group Trust (NYSE: KRG) is a retail-focused REIT with properties nationwide, benefiting from a vertically integrated business model that encompasses development, leasing, and operations [3][4]. - As of November 24, 2025, Kite Realty's shares were priced at $22.71, reflecting a 10% decline over the past year, underperforming the S&P 500 by 23.9 percentage points [2][4]. Investment Activity - The complete exit from Kite Realty involved the sale of 806,852 shares, with an estimated transaction value of approximately $18.28 million, reducing the fund's holdings from 3.6% of AUM to zero [2][3]. - Following this transaction, Land & Buildings reported 22 equity positions and $544.91 million in U.S. equity assets under management [3]. Market Conditions - The decline in Kite Realty's stock price is attributed to cautious investor sentiment, primarily due to rising financing costs impacting REIT valuations [4]. - Despite the challenges, the company's high-quality portfolio and disciplined operations are expected to support future cash flow growth, contingent on improved market conditions [4].

Core Insights - Land & Buildings Investment Management, LLC has completely liquidated its stake in Rexford Industrial Realty, selling all 561,113 shares for an estimated value of $19,958,789, which previously accounted for 3.98% of the fund's assets under management [2][3][4] Company Overview - Rexford Industrial Realty, Inc. is a leading industrial REIT focused on infill markets across Southern California, generating revenue primarily through rental income from its diversified portfolio of industrial real estate properties [9][11] - As of November 24, 2025, Rexford shares were priced at $40.84, reflecting a year-to-date performance of 5.6% and a current dividend yield of 4.19% [4][5] Fund Holdings - After the sale of Rexford shares, Land & Buildings Investment Management's total reported U.S. equity holdings stood at approximately $544.91 million across 22 positions, with Rexford now representing 0% of the portfolio [3][4] - The fund's top holdings post-sale include AHR ($48.4 million, 8.9% of AUM), SPG ($38.70 million, 7.1% of AUM), and others [8] Market Context - The move to sell Rexford Industrial Realty indicates a significant shift in Land & Buildings Investment Management's real estate allocation, especially given the previous size of the position [10] - Rexford remains a strong player in the industrial REIT sector, benefiting from a market characterized by tight supply and consistent demand for infill space in Southern California [10]

Core Insights - The article discusses Kimco Realty Corporation (KIM) and its financial instruments, credit rating, and metrics, highlighting the company's investment opportunities and strategies [1]. Group 1: Company Overview - Kimco Realty Corporation is analyzed in detail, focusing on its financial instruments and credit rating [1]. - The company has been previously covered, indicating a history of analysis and investment interest [1]. Group 2: Investment Strategies - The article mentions Denislav Iliev, an experienced day trader with over 15 years in the field, who leads a team of 40 analysts to identify mispriced investments [1]. - The investing group Trade With Beta provides features such as frequent picks for mispriced preferred stocks and baby bonds, weekly reviews of over 1200 equities, IPO previews, and hedging strategies [1].

Core Insights - SBA Communications Corporation is scheduled to present at two upcoming conferences: the UBS Global Media and Communications Conference on December 9, 2025, and the BofA Securities 2025 Leveraged Finance Conference on December 2, 2025 [1][4]. Company Overview - SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure, including over 46,000 communications sites across the Americas and Africa [2]. - The company is listed on NASDAQ under the symbol SBAC and is part of the S&P 500, recognized as one of the top Real Estate Investment Trusts (REITs) by market capitalization [2]. Financial Performance - For the third quarter of 2025, SBA reported a net income of $240.4 million, equating to $2.20 per share, and an industry-leading Adjusted Funds From Operations (AFFO) per share of $3.30 [5]. - The company completed the acquisition of remaining sites from a deal with Millicom and sold its towers in Canada after the quarter ended [5]. - SBA also repurchased 958 thousand shares during the quarter [5]. Upcoming Events - The third quarter earnings release is scheduled for November 3, 2025, followed by a conference call to discuss the results [6].

Group 1 - The company invests significant resources, including thousands of hours and over $100,000 annually, to identify profitable real estate opportunities [1] - A promotion is currently available, offering a $100 discount for joining the High Yield Landlord investment group, which has released its top investment picks for 2026 [1] Group 2 - Jussi Askola, the President of Leonberg Capital, leads the High Yield Landlord investing group, which focuses on REIT investing and provides real-time portfolio updates and buy/sell alerts [2] - The group features three distinct portfolios: core, retirement, and international, along with a chat room for direct interaction with analysts [2]

Core Points - Gaming and Leisure Properties, Inc. (GLPI) declared a cash dividend of $0.78 per share for Q4 2025, payable on December 19, 2025, to shareholders of record on December 5, 2025 [1] - The current dividend reflects an annualized yield of 7.25%, based on a closing share price of $43.04 on November 21, 2025, compared to the previous year's Q4 dividend of $0.76 per share [1] Company Overview - GLPI is engaged in acquiring, financing, and owning real estate properties to be leased to gaming operators under triple-net lease arrangements, where tenants are responsible for all maintenance, insurance, taxes, and utilities related to the leased properties [3] - The company intends to pay regular quarterly cash dividends in the foreseeable future, with all subsequent dividends subject to quarterly review and declaration by the Board of Directors [2]

Core Insights - Essex Property Trust, Inc. is a leading real estate investment trust (REIT) focused on high-quality multifamily communities along the U.S. West Coast, with a market capitalization of $16.8 billion [1] - The company's stock has underperformed, declining 14.2% over the past 52 weeks and 8.5% year-to-date, lagging behind the S&P 500 Index which gained 11% and 12.3% in the same periods [2] - Essex's performance is also weaker compared to its sector, as the Real Estate Select Sector SPDR Fund (XLRE) fell 6.5% over the past 52 weeks but performed better in 2025 [3] Financial Performance - In Q3 2025, Essex reported a net income per share increase of 39% to $2.56, while core FFO rose about 1.5% to $3.97, with same-property revenue and NOI improving by 2.7% and 2.4%, respectively, and occupancy remaining strong at 96% [4] - The company raised its full-year net income per diluted share guidance by $0.41 to a range of $10.53 to $10.63 [4] Analyst Expectations - For the fiscal year 2025, analysts expect Essex's bottom line to grow by 2.3% year-over-year to $15.96 per share on a diluted basis, with a history of surpassing consensus estimates in the last four quarters [5] - Among 28 Wall Street analysts covering Essex, the consensus rating is a "Hold," consisting of six "Strong Buy," two "Moderate Buy," 18 "Hold," and two "Strong Sell" ratings [5]

Core Viewpoint - Realty Income is a strong passive income producer with a history of steadily increasing dividends, making it an attractive investment for income-seeking investors [1][2][11] Dividend Growth - Realty Income has increased its monthly dividend 132 times since its public listing in 1994, resulting in a total payout increase of 259% over that period, equating to a 4.2% compound annual growth rate [1] - The REIT has paid out a cumulative $17.6 billion in dividends over the past three decades [1] Current Yield and Investment Returns - Realty Income currently offers a dividend yield of over 5.5%, making it ideal for generating passive income [2] - An investor who purchased 100 shares at the end of 2014 would have seen their annual dividend income increase from approximately $220 to about $323, reflecting a yield on cost basis increase from 4.2% to 6.8% [4][6] Financial Stability and Cash Flow - Realty Income maintains a conservative dividend payout ratio of about 75% of its adjusted funds from operations, allowing for significant cash retention for new investments [8] - The company is projected to generate $843.5 million in free cash flow after dividends this year, indicating strong financial health [8] Portfolio Diversification - Realty Income has diversified its portfolio beyond retail properties to include industrial, gaming, and data center properties, expanding its total addressable market opportunity to $14 trillion [9] - The REIT has also expanded geographically into the U.K. and continental Europe, enhancing its growth potential [9] Investment Discipline - Realty Income has sourced $97 billion in new investment opportunities in 2023 but has selectively closed $3.9 billion in deals, focusing on maximizing returns [10] - This disciplined approach positions the company strongly for continued dividend growth [10]

Core Insights - Real estate investment trusts (REITs) simplify the process of investing in real estate, allowing investors to gain exposure to various properties without the associated management responsibilities [1] Group 1 - REITs provide a way for investors to participate in the real estate market without direct ownership of properties [1] - These investment vehicles offer diversification across different types of real estate assets [1] - Investors benefit from the income generated by the properties held within the REITs [1]