FreeReal EstateO10 min read
O: the cap-rate repricing is mostly done (Part 2)
O chart · D
The thesis
The distribution is well-covered even under a conservative occupancy case.
Cap-rate repricing is largely behind us in the quality names — FFO is defensible.
What I'm watching
- occupancy trend
- occupancy trend
- A clean move through the level I flag below
Positioning
Neutral / hedged on O, 6-36 months horizon. Conviction: Medium. Rates drive the multiple; I respect the macro overlay.
Opinion, not investment advice. The author may or may not hold positions discussed.
Drag the grip on a chart or video card to move it · click the chevron to collapse.
Comments
0 commentsBe the first to comment.