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Strong Buy
PEIAnyone have thoughts on PEI? Their releasing spreads are positive and NOI on same properties up YOY (in back half of 2018 there was impact from toys r us). It now has a dividend of ~12%. Payout ratio is tight but Fashion District in Philly will come online in Q3 2019 and redevelopment coming online each quarter. I think by 2020 the payout ratio will be less tight and same store income growth will be strong. I think the downdraft in Nov/Dec from tax loss selling is a really compelling entry point. -Michael |
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Msg # | Subject | Author | Recs | Date Posted |
11398 | Re: PEI | fritzy | 0 | 1/21/2019 9:46:29 AM |