Good Reits To Buy Now – Cars drive past the MGM Resorts International Grand Hotel & Casino in Las Vegas. (Photo by: Jacob … [+] Kepler/Bloomberg)
Many REITs focus on residential and office properties. But the sector offers opportunities to invest in a number of niche markets. Many leading investment experts and contributors
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Uncover your favorite REITs involved in niche markets ranging from casinos to self-storage facilities and convenience stores to data centers.
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A few years ago, the casino chain MGM Resorts International (MGM) was in a difficult situation. It had expanded too quickly and had a ton of debt on its balance sheet.
Meanwhile, the company was a casino operator, not a property manager. So he decided to lock most of the properties into a REIT and then rent them out again. That REIT is MGM Growth Properties LLC (MGP).
In just three years, the company went from conception to the largest landlord in Las Vegas. The company owns The Mirage, Mandalay Bay, Luxor Las Vegas, New York-New York Hotel & Casino, Monte Carlo Resort & Casino, Excalibur Resort & Casino, The Park, Gold.
And that brings in some nice (and growing) rent checks for investors. You see, casinos generate a ton of revenue every year. And to rent out the space they occupy, they pay millions.
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And with MGM and MGP being so closely linked, you can bet that as time goes on, MGP will take over the rest of the MGM property portfolio. It already sees Aria and Vadara in Las Vegas. And Circus Circus was coming soon.
Then there are three other MGM properties in Vegas that all generate huge amounts of cash – Bellagio, MGM Grand and The Signature. and MGM has a joint venture with AEG
But that’s just Las Vegas. MGM Resorts currently has two properties in Macau operated by its Chinese wing, MGM China Holdings. MGM Macau is a luxury casino at the heart of Macau’s gambling action. And MGM Cotai is the crown jewel in the MGM crown.
In addition, MGM Resorts has already applied to be issued one of three gaming licenses in Japan. If it’s one of the winners, you can bet there will soon be another multi-billion dollar luxury resort.
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This company is quite underrated. It largely owns the Las Vegas Strip. It has two prime properties in Macau. This is the U.S. It owns some of the most profitable regional casinos in the United States and is expected to expand to Japan soon.
Plus, it pays a juicy dividend, and it’s increased that payout six times in 11 quarters — four of them coming last year. But it trades at a huge discount to its original price. It does not even trade in the net worth of its physical assets. It’s not going to last.
We live in a low price world now. The good news is that there are many low-risk ways for income investors to profit. Here are two real estate investment trusts, or REITs, that aren’t your garden-variety REITs. Both are poised to ride on long-term growth trends.
The first is Americold Realty Trust (COLD), the largest REIT focused on owning and operating temperature-controlled warehouses. Why is it important? Well, these warehouses are important for the food industry.
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The REIT owns and operates 156 such warehouses with approximately 928 million refrigerated cubic feet of storage. They now serve over 2,400 customers worldwide.
Don’t be fooled, the food industry is hardly a sector without growth. These warehouses will be needed a lot, and soon. With millennials adopting online grocery shopping, the demand for cold storage facilities is on the rise.
Amrikold is not just a landlord. The company also provides services that help their customers move their products correctly around the supply chain. This is a potentially large market that has barely been tapped.
American Tower (AMT) is in the cell phone tower business. Tower companies lease space on their structures to various tenants, such as wireless carriers and government agencies.
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There is a strong growth component to this business, largely thanks to the arrival of 5G wireless networks. These faster, more powerful networks are absolutely essential to our interconnected world.
This new technology also includes things like Ultra-HD video, augmented reality and connected self-driving cars. And they all consume massive amounts of data, and that means towers.
American Tower has over 170,000 tower spaces. It generates more than half of its total revenue in the United States, where customers are all major wireless carriers.
Another big plus I see for American Tower is its huge overseas footprint. For example, the REIT has its largest international exposure in India, where data consumption is growing 100% per year.
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There is also great potential in Latin America. There are over 200 million people in the middle class in Latin America. American Tower is a REIT very well positioned to ride the trend of a more connected world! The REIT currently yields about 2.6%.
Most American households have too much stuff. (I must count myself among the guilty.) When the amount of one’s possessions exceeds the home’s storage capacity, many people rent an outdoor unit for the overflow.
The alternative is to sell what is not used or needed – but that is too horrible to consider. Storage units are also very popular among businesses. It is generally cheaper to rent warehouse space than to expand an office to store goods.
The savings are even greater for businesses that have seasonal items to sell. When this happens, the storage unit can be terminated and the rent can be put to better use.
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For both individuals and businesses, the arrival of hard economic times can also make it necessary to downsize and keep assets and inventory in outdoor storage units. Natural disasters greatly increase the need for storage units until victims can rebuild or relocate.
Extra Space Storage (EXR) is a REIT that operates 1,650 self-storage stores – totaling 1.2 million units – in 39 states, Washington, D.C. and Puerto Rico.
In addition to storage units, the company offers both indoor and outdoor storage for boats and RVs. For companies with larger storage needs, the company has larger units that act as smaller warehouses.
The company also has business with insurance of stored goods. Extra Speed Storage is the second largest operator of self-storage businesses in the United States. The current dividend is an attractive 3.37%.
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Getty Realty Corp. (GTY) is a REIT based in Jericho, New York that owns, leases and finances gas station and convenience store properties. The company has more than 930 of them in its portfolio across 30 states. These include locations under all the major gasoline brands, including
Getty makes an attractive investment in an economy that is likely to slow down. This is because the company’s business is not as cyclical as other sub-sectors of the commercial real estate sector such as office and industrial. We all need to fill up our cars and SUVs with gas… or need a soda and a quick bite to eat… no matter how the economy is doing.
The company has grown organically and through acquisitions in recent years. It spent $537 million between 2014 and 2018 to add 238 properties, while also committing capital to redevelop older stations and stores.
Most of its properties – about 75% – now contain both gas stations and convenience stores, while 10% include fast-food restaurants such as Wendy’s, McDonald’s or Dunkin’. This increases the site’s revenue and profit potential.
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Its quarterly dividend has also grown at an annualized rate of 9.5% over the past half-decade. It now pays 35 cents a share, which is good for a yield of about 4.3%. The stock recently pulled back to technical support in the low-$30s. They seem to be stuck here before going back up. Take advantage of buying Getty Realty off the market.
Cloud computing is really a strong secular trend. The market size is expected to reach $441 billion by 2020
The firm predicts that by 2021, 28% of all IT spending will be on cloud-based infrastructure, middleware, applications and business process services. The global market will reach USD 1.82 trillion by 2024, almost five times the final figure of 2019.
In this megatrend lies data center REITs; Equinix ( EQIX ), CoreSite Realty Corporation ( CORE ), Digital Realty ( DLR ), CyrusOne ( CONE ), and QTS Realty Trust ( QTS ) are the five household names in this sector.
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As a group, they generate high single-digit percentage revenue and double-digit percentage earnings growth with a history of strong dividend gains.
Also, if bought in equal amounts, the Fab-Five of data center REITs have a compounded yield of 3.35%, rivaling utilities and consumer staples for the highest defensive sector yield, but at a much higher rate of growth potential.
So as investors try to spot global growth prospects, betting on the future of America’s largest data center operators looks like a sure thing.
We maintain our “Buy” rating on Public Storage (PSA); The company had positive results in 2018 despite challenging economic conditions. The California-based REIT operates self-storage facilities.
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It has 2,429 self-storage facilities
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