Core Viewpoint - REITs are regaining favor as a safe haven investment, showing a year-to-date increase of 6.9% compared to a broader market decline [1] Group 1: Market Dynamics - The turning point for market sentiment occurred in early February, coinciding with a reversal of previously hot trades and a focus on significant capital expenditure (capex) by hyperscalers during earnings season [3] - Major tech companies like Microsoft, Google, and Amazon experienced declines of 5%, 10%, and 18% respectively, contributing to a 4% drop in the Nasdaq and a 2% drop in the S&P in the first two weeks of February [7][8] - Traditional safe havens, including gold and silver, have not performed well, leading investors to consider REITs as a more reliable option [9][11] Group 2: REITs' Fundamental Strength - REITs have demonstrated strong fundamental performance over the past five years, with metrics such as FFO (Funds From Operations) growth and improved margins [13][16] - The median REIT trades at 13.8X FFO, significantly lower than the S&P's 29.3X trailing earnings, indicating a divergence in valuation [21] - REITs currently offer an FFO yield of 7.24%, compared to the S&P's earnings yield of 3.4%, allowing for larger dividend payouts [24] Group 3: Cash Flow Reliability - REITs benefit from contractual revenue streams that can extend up to 30 years, providing visibility into future cash flows and supporting consistent dividend growth [17][19] - A forecast indicates that 36 REITs are expected to increase their dividends in the first quarter of 2026, reflecting their reliable cash flow structure [17] Group 4: Direct Benefits from Tech Capex - Many REITs are positioned to benefit directly from the trillions of dollars being spent on AI infrastructure, with companies like Equinix reporting accelerating growth in AFFO per share due to increased demand for data centers [29] - The demand for infrastructure related to AI is driving significant growth opportunities for REITs, contrasting with the challenges faced by hyperscalers [29] Group 5: Market Correction and Future Outlook - The current market correction is seen as a recalibration of previously inflated tech valuations, with capital shifting towards undervalued sectors like REITs [32][33] - The outperformance of REITs in 2026 is viewed as just the beginning, with expectations for further normalization of relative value as the market adjusts [33]

Shares of SL Green Realty (NYSE: SLG) have tumbled more than 35% in the past year and are down almost 40% over the last five years. Manhattan's largest office landlord has struggled due to higher interest rates (REITs are highly rate-sensitive) and sluggish demand for office space since the pandemic. While SL Green Realty has battled headwinds in recent years, the office REIT stock could soar if the following two things go right. Where to invest $1,000 right now? Our analyst team just revealed what they b ...

Report Industry Investment Rating - Not provided in the given content. Core Viewpoints - This week, the REITs market recovered, with the China Securities REITs Index rising 0.3% week - on - week. Data center, consumption, and energy REITs led the gains. The week - on - week change rankings of major indexes were: China Securities Convertible Bonds > CSI 300 > China Securities REITs > China Securities All - Bond [1]. - As of February 13, 2026, the dividend yield of equity REITs was 65BP lower than the average dividend yield of CSI Dividend - paying Stocks, and the spread between the average internal rate of return of concession - based REITs and the 10 - year Treasury yield was 318BP [1]. - Commercial real - estate public REITs were intensively declared. Cathay Haitong Chongbang Commercial Real - Estate Public REIT and CITIC Construction First Agricultural Food Group Closed - end Commercial Real - Estate REIT were officially declared to the Shanghai Stock Exchange, further enriching the supply of commercial real - estate REITs [1]. Summary by Relevant Catalogs Secondary Market Trends - As of February 13, 2026, the closing price of the China Securities REITs (Closing) Index was 804.77 points, with a week - on - week change of 0.3% (from February 9 to February 13, 2026). Its performance was weaker than that of the China Securities Convertible Bonds Index (+1.1%) and the CSI 300 Index (0.4%), and stronger than that of the China Securities All - Bond Index (0.1%). Year - to - date, the change rankings of major indexes were: China Securities Convertible Bonds (+7.0%) > China Securities REITs (+3.4%) > China Securities All - Bond (+0.7%) > CSI 300 (+0.7%) [2][6]. - In the past year, the return of the China Securities REITs Index was - 6.2%, and the volatility was 7.1%. The return was lower than that of the China Securities Convertible Bonds Index, the CSI 300 Index, and the China Securities All - Bond Index; the volatility was lower than that of the CSI 300 Index and the China Securities Convertible Bonds Index, and higher than that of the China Securities All - Bond Index. The total market value of REITs on February 13 was 228.8 billion yuan, a decrease of 200 million yuan from the previous week; the average daily turnover rate for the whole week was 0.33%, a decrease of 0.14 percentage points from the previous week [2][8]. Performance of Different REITs Types - From the perspective of different project attributes, the average week - on - week changes of equity - type REITs and concession - based REITs were 0.7% and 0.3% respectively. From the perspective of different project types, the performance of each sector was differentiated, with data center, consumption, and energy REITs having the largest increases. The top three REITs in terms of weekly gains were ICBC Inner Mongolia Energy Clean Energy REIT (+3.47%), BOC Sino - Foreign Warehousing and Logistics REIT (+3.11%), and Huatai Nanjing Jianye REIT (+3.00%) [3][11][14]. - In terms of different project types, data center REITs had the highest daily turnover rate this week, at 0.8%; transportation infrastructure REITs had the highest trading volume share this week, accounting for 21.2% of the total REITs trading volume. In terms of the capital flow of different REITs products this week, the top three in terms of net inflow of main funds were China Resources Commercial REIT of Huaxia Fund (41.47 million yuan), Southern Vanda Data Center REIT (32.04 million yuan), and CICC InCity Mall REIT (30.02 million yuan) [3][18][19]. Primary Market Issuance - From January 1 to February 13, 2026, there were 3 REITs products in the inquiry stage, 5 in the feedback stage, and 10 in the declaration stage on the exchange, and 12 commercial real - estate REITs were officially declared [21]. Valuation Tracking - REITs have both bond and stock characteristics. As of January 23, the average annualized cash distribution rate of public REITs was 6.3%. From the perspective of stock characteristics, the valuation of REITs was judged through relative net - value premium rate, IRR, and P/FFO. As of February 13, 2026, the dividend yield of equity REITs was 65BP lower than the average dividend yield of CSI Dividend - paying Stocks, and the spread between the average internal rate of return of concession - based REITs and the 10 - year Treasury yield was 318BP [22][24]. Industry News - On February 9, Cathay Haitong Chongbang Commercial Real - Estate Public REIT was officially declared to the Shanghai Stock Exchange, becoming the 11th commercial real - estate public REIT and the 10th declared project on the Shanghai Stock Exchange. On February 11, CITIC Construction First Agricultural Food Group Closed - end Commercial Real - Estate REIT was officially declared to the Shanghai Stock Exchange, becoming the 12th commercial real - estate public REIT and the 11th declared project on the Shanghai Stock Exchange [4][31]. - On February 13, Runze Technology announced that the Southern Runze Technology Data Center REIT planned to start the issuance of additional shares. The company and its wholly - owned subsidiary Runze Development would use the A - 7 and A - 8 data centers and related ancillary facilities of the International Information Cloud Aggregation Core Port (ICFZ) project as the underlying assets for the issuance [4][31].

Core Viewpoint - The Invesco S&P 500 High Dividend Low Volatility ETF (SPHD) has seen a significant increase in interest from retirees following a 23.3% hike in annual dividends, reflecting a shift towards defensive investment strategies amid market volatility [1]. Group 1: SPHD Performance and Dividend Increase - SPHD has gained 8.93% year to date, significantly outperforming the S&P 500's 1.5% return [1]. - The fund's annual dividends increased to $2.0173 in 2025, marking a 23.3% rise from 2024 due to higher payouts and strategic rebalancing [1]. - Competing dividend ETFs, such as Schwab ETF (SCHD) and Vanguard ETF (VYM), have outperformed SPHD with returns of 17.5% and 20.05% respectively over the past year [1]. Group 2: Interest Rate Impact - The direction of interest rates poses a significant risk for SPHD, with current yields making its 4.69% yield more competitive against risk-free alternatives [1]. - The fund's heavy concentration in rate-sensitive sectors like REITs and utilities means profitability is directly affected by changes in borrowing costs [1]. - Monitoring Federal Reserve policy and Consumer Price Index releases is crucial to gauge future interest rate movements that could impact SPHD [1]. Group 3: Structural Challenges - SPHD's methodology excludes most technology stocks, leading to a lack of growth exposure and persistent performance drag during bull markets [1]. - The top holdings include mature companies like Pfizer, UPS, and Altria, which have limited growth prospects [1]. - The performance gap between SPHD and competing dividend ETFs is attributed to SPHD's strict low-volatility screen, which limits access to higher-growth dividend payers [1].

Core Insights - The analyst has over a decade of experience in researching various industries, including commodities like oil, natural gas, gold, and copper, as well as technology companies such as Google and Nokia, and emerging market stocks [1] Group 1: Company Focus - The analyst has transitioned from writing a blog to creating a value investing-focused YouTube channel, where extensive research on hundreds of companies has been conducted [1] - The preferred focus of the analyst includes metals and mining stocks, but there is also comfort in analyzing other sectors such as consumer discretionary, consumer staples, REITs, and utilities [1]

primeimages/E+ via Getty Images Pockets of Mid Cap Persevere Despite Pressure Market Overview Mid cap equities were flat to slightly positive in the fourth quarter, with the Russell Midcap Index returning 0.16%. Market performance was shaped less by macroeconomic shocks and more by an increasingly narrow set of investor preferences, particularly late in the quarter, as momentum faded in several growth-oriented areas that had driven returns earlier in the year. Earnings reactions became more uneven, with ...

Core Viewpoint - Omega Healthcare Investors, Inc. (OHI) has shown strong results and resilience despite macroeconomic pressures, leading to a reaffirmation of a Buy rating [1]. Group 1: Company Performance - The company has improved its fundamentals while continuing to navigate challenging market conditions [1]. - The analyst has a beneficial long position in OHI shares, indicating confidence in the company's future performance [2]. Group 2: Analyst Background - The analyst has over a decade of experience researching various industries, including commodities and technology, which supports the analysis of OHI [1]. - The analyst has transitioned from writing a blog to a value investing-focused YouTube channel, showcasing a commitment to in-depth company research [1].

The last time I covered Crown Castle Inc. ( CCI ), I reiterated their Hold rating, as even though their turnaround and renewed focus on towers advanced, the valuation didn’t offer an attractive enough margin ofI've been researching companies in-depth for over a decade, from commodities like oil, natural gas, gold and copper to tech like Google or Nokia and many emerging market stocks, which I believe could help me provide useful content for readers. After writing my own blog for about 3 years, I decided to ...

Group 1 - The article discusses the author's journey into investing, starting in high school in 2011, focusing on REITs, preferred stocks, and high-yield bonds, indicating a long-standing interest in markets and the economy [1] - The author has recently adopted a strategy that combines long stock positions with covered calls and cash secured puts, emphasizing a fundamental long-term investment approach [1] - The author primarily covers REITs and financials on Seeking Alpha, with occasional articles on ETFs and other stocks influenced by macro trade ideas [1]

中证报中证网讯(记者吴杨)近日，"国民信托.京能1号REITs投资集合资金信托计划"(下称"京能1号")参与 的中航京能光伏REIT扩募份额在上交所上市。这是国民信托在公募REITs领域和绿色金融标品投资的首 次布局。此次国民信托参与的京能光伏REIT扩募，进一步丰富了绿色能源类REITs产品供给，为投资者 配置长期稳健资产提供了新选择。 从产品结构看，"京能1号"所募资金专项投资于云南省苏家河口水电站与松山河口水电站的资产支持专 项计划，通过持有相应ABS份额间接享有基础设施项目收益权。项目以水电销售为主要收入来源，具有 现金流稳定、运营主体成熟等特点，契合保险资金、理财资金等长期资本的配置需求。从治理机制看， 项目依托公募基金管理人在信息披露、合规运营方面的成熟体系，并严格落实信托业务三分类新规要 求，着力保障投资者合法权益。 作为近年来资本市场重要的创新产品，公募REITs在盘活基础设施存量资产、拓宽社会资本投资渠道方 面发挥着日益突出的作用。业内人士指出，信托公司通过"信托计划+公募REITs"模式参与绿色能源投 资，既拓展了自身业务空间，也为资本市场服务实体经济提供了新的实践路径。 ...