Puka Mahele Mahina

He mea kapu ka dividend no nā mea hoʻopukapuka. Loaʻa iā ʻoe kahi manaʻo palekana me ka loaʻa kālā paʻa inā koho ʻoe i nā waihona maikaʻi loa no ka wā lōʻihi. Hāʻawi ia i ka loaʻa kālā hou e like me kāu kūlana ʻoihana a pilikino, akā pale pū kekahi i ka volatility mākeke.

Hōʻike ka palapala kākoʻo iā ʻoe i ka loaʻa kālā ʻana i nā waihona i ka wā lōʻihi e maopopo pono ka waiwai. E noʻonoʻo ʻoe no ke aha ʻoe e hoʻokomo ai i kāu kālā i nā hoʻopukapuka pilikia ʻole i loaʻa ʻole ka hoʻihoʻi. Me nā māhele maʻamau e uku, pōmaikaʻi ʻoe mai ka mana o ka ukupanee hui e hiki ai iā ʻoe ke ulu i kāu kapikala me ka maluhia o ka noʻonoʻo.

Koho nā hui i helu ʻia e uku i ka makahiki, ka hapalua makahiki a i ʻole ka hapaha makahiki, akā koho kekahi i ka hāʻawi ʻana i kēlā me kēia mahina. Kapa ʻia lākou ʻo ka nā waihona hoʻokaʻawale mahina.

ʻO nā kumukūʻai e uku ana i nā māhele i kēlā me kēia mahina e hāʻawi i ka loaʻa kālā hou. ʻOi aku ka nui o ka loaʻa ʻana o nā māhele, ʻoi aku ka wikiwiki e hiki iā ʻoe ke hoʻihoʻi hou iā lākou e kūʻai i nā ʻāpana hou aʻe, no laila e hoʻonui ai i ka loaʻa kālā. Ua kūpono paha lākou no kahi ʻano o nā mea hoʻopukapuka e like me ka poʻe i hoʻomaha.

Eia naʻe, ʻaʻole hiki iā ʻoe ke ʻai i kāu keke a ʻai pū kekahi. E ʻike mākou ʻaʻole me ka pilikia ʻole nā ​​waihona hoʻokaʻawale mahina.

Inā makemake ʻoe e ʻike hou aʻe ma mua o ka lawe ʻana i ka plunge, pono e hoʻomanaʻo i kā lākou ʻokoʻa i hoʻohālikelike ʻia me ka maʻamau maʻamau maʻamau. A laila, e ʻike mākou i kahi e loaʻa ai iā lākou a ma nā ʻāpana hea. ʻO ke kolu, he aha nā manawa kūpono a me nā pilikia o ka hoʻokomo ʻana i nā waihona hoʻokaʻawale mahina. ʻO ka hope, e wehewehe mākou i nā ʻokoʻa like ʻole e ʻike ai i ka mea maikaʻi loa i ka ʻāpana.

Ma ke ʻano he bonus, me ka ʻole o kēia manaʻo kūʻai, e hōʻike mākou i ka 5 kiʻekiʻe o nā waihona hoʻokaʻawale mahina maikaʻi loa i nā makahiki i hala.

Nā Kūʻai Māhele Mahina - Kekahi mau kikoʻī e ʻike

Ma ʻAmelika Hui Pū ʻIa a me Kanada, ʻo ka hapa nui o nā ʻoihana e puʻunaue i kēlā me kēia hapaha. Ma ʻEulopa, ʻokoʻa ia mai kekahi ʻāina a i kekahi ʻāina. Ma Palani, ʻo ia ka uku makahiki i mua. Ma Sepania, Netherlands a me United Kingdom, makemake nā ʻoihana e uku i nā ʻāpana i ka hapalua makahiki.

E ʻōlelo pololei kāua. He kakaikahi ka waihona puunaue o ka mahina. Hiki iā ʻoe ke loaʻa ma kahi o kanalima o lākou ma waena o nā ʻoihana 630 a puni ka honua.

ʻO ka mea kikoʻī mua, pili lākou i kekahi mau ʻāpana. ʻO ka lua kikoʻī, ʻo ka hapa nui o lākou he kiʻekiʻe kiʻekiʻe ma mua o ka awelika o ka S&P 500 a me ka pahuhopu inflation o nā waihona kikowaena ma 2%. ʻO ke kolu kikoʻī, ʻo ka wehe ʻana i kēlā me kēia mahina o ka puʻunaue, ʻo ia ka mea e unuhi ʻia ke kumukūʻai ʻāpana mai ka nui o ka puʻunaue i kēlā me kēia mahina me ka nīnau ʻole ʻana i nā kumu waiwai o ka hui.

Nā Kūʻai Kūʻai Mahina - Ma hea nā ʻāina hiki iā ʻoe ke loaʻa iā lākou?

Loaʻa iā ʻoe ma ʻAmelika ʻĀkau: ʻAmelika a me Kanada. Mai ʻimi i ke kumu ʻaʻohe mea ma ʻEulopa. ʻO ka hopena, ʻaʻohe ʻāpana ʻāpana o kēlā me kēia mahina i loko o ke kahua o kahi PEA. Hiki iā ʻoe ke hoʻolilo i kēia mau waihona me nā CFD ma o kahi mea kūʻai pūnaewele like eToro.

Ma nā ʻāpana hea e loaʻa ai iā lākou?

Ma kahi o kanalima mau hui o ʻAmelika ʻĀkau e uku i ka mahele mahina. Hoʻopili ʻia lākou i kahi liʻiliʻi o nā ʻāpana. Aia ma waena o lākou REITs (Real Estate Investment Trusts) a i ʻole nā ​​hui waiwai i helu ʻia, kālā, ikehu, pono a me ke kelepona.

REITs

ʻO ka hapa nui o nā waihona hoʻokaʻawale mahina he REITs. Hoʻokumu ʻia ma 1960 ma ʻAmelika Hui Pū ʻIa, ʻo ia nā hui nona a mālama i ka waiwai. Loaʻa iā lākou ka loaʻa kālā ma ka hoʻolimalima ʻana iā lākou. Loaʻa i nā REIT kahi ʻōnaehana ʻauhau kikoʻī e koi iā lākou e uku i ka 90% o kā lākou loaʻa kālā ma ke ʻano o nā ʻāpana i kā lākou mau mea kuleana.

Me he mea la, e puunaue ana kekahi mau REIT i ka mahele mahina i ko lakou poe kuleana no ka mea, loaa ia lakou ka loaa ma ke ano o na hoolimalima o ka mahina. Ma ke ʻano waiwai e ʻike ʻoe i nā hale keʻena, nā hale kūʻai, nā hale noho, nā hōkele, nā hale leʻaleʻa, nā hale kūʻai, etc.

ʻO kekahi māhele o REITs e hāʻawi i ka mahele o kēlā me kēia mahina. ʻO kēia nā moraki REIT. ʻO kēia nā ʻoihana ʻaʻole nona nā waiwai kino. Hāʻawi pololei lākou i ke kālā i ka poʻe nona ka waiwai, ma ka hoʻopuka ʻana i nā moraki, a i ʻole ma ke kūʻai ʻole ʻana ma ke kūʻai ʻana i nā hōʻaiʻē i loaʻa a i ʻole nā ​​​​mea i kākoʻo ʻia i ka moraki.

No ka hāʻawi ʻana i nā ʻāpana, loaʻa nā REIT moraki i kā lākou loaʻa kālā mai ka ukupanee i loaʻa mai nā hōʻaiʻē moraki a i ʻole mai nā hoʻopukapuka kālā ma o nā mea hana kālā i kākoʻo ʻia i ka waiwai. Manaʻo paha ʻoe e hana like lākou me nā panakō koe wale nō ʻaʻole paʻa nā REIT moraki i nā waihona kālā.

Hoʻohana maʻamau ka mortgage REITs i ka leverage e hoʻolaha i kā lākou hōʻaiʻē a puʻunaue i ka puʻunaue ma kahi kiʻekiʻe.

No kēia mau kumu, ʻoluʻolu nā REIT moraki i nā loli i ka uku ukupanee. Inā piʻi lākou, e emi ana ko lākou palena i ka hoʻohālikelike ʻana i ke kumukūʻai o ke kālā. Inā hāʻule lākou, e hoʻowalewale ʻia ka poʻe ʻaiʻē e hoʻihoʻi i kā lākou hōʻaiʻē ma ke kumu kūʻai haʻahaʻa a ʻo ia ka mea e hōʻemi ai i kā lākou hua.

No laila, ua hoʻomaopopo ʻoe ʻoi aku ka maikaʻi o ka hoʻopukapuka ʻana i kēia ʻano REIT i kahi ʻano pākēneka paʻa.

Waiwai

ʻImi pinepine ʻia ka ʻāpana kālā no kā lākou hana a me ka hoʻohālikelike ʻana i ka awelika mākeke. Hiki iā ʻoe ke ʻike i nā hui e puʻunaue ana i ka ʻāpana o kēlā me kēia mahina ma kekahi mau ʻāpana e like me:

• Nā BDC (Nā Hui Hoʻomohala Pāʻoihana). ʻO kēia nā hui hoʻopukapuka kālā e hoʻokomo i nā ʻoihana liʻiliʻi a me nā ʻoihana liʻiliʻi. Kākoʻo lākou iā lākou i ko lākou pae mua o ka ulu ʻana ma o ka hāʻawi ʻana iā lākou i ke kapikala ma o ke kaulike, aie a i ʻole nā ​​​​mea hana kālā. No ka pōmaikaʻi mai kahi kūlana ʻauhau avantageux, pono nā BDC e paʻa i ka liʻiliʻi o 70% o kā lākou waiwai i nā hui pilikino a lehulehu paha o US me ka waiwai kūʻai ma lalo o $250 miliona. Ua like kā lākou ʻoihana ʻoihana me nā REIT moraki koe wale nō he nui nā kumu waiwai o nā BDC.
• Nā CEF (Nā Waiwai Paʻa-Hoʻopau). ʻO kēia nā waihona kālā paʻa i hana ʻia me nā ʻāpana i kālepa ʻia ma ke kumukūʻai kūʻai a i ʻole ma ka mākeke kūʻai. E like me nā kālā like, mālama ʻia lākou e nā mana portfolio. Eia nō naʻe, i ka manawa i helu ʻia, e loaʻa i ka CEF kahi helu paʻa o nā ʻāpana ʻokoʻa. ʻO ia hoʻi, ʻaʻole ia e pōmaikaʻi mai ka hoʻonui ʻana o ke kapikala a kaʻana like i nā kūʻai hou. E kūʻai ʻia ka CEF, e like me ke kumukūʻai kūʻokoʻa no ke kūʻai ʻana a kūʻai aku ma ka mākeke lua.
• Ua manaʻo ʻia nā panakō he ʻoihana ulu lohi. ʻOiaʻiʻo, hiki i ko lākou ulu ulu ʻana i ka wā o ka makahiki 2000 no laila ko lākou makemake i ka mālama ʻana i kā lākou mau mea kuleana ma o ka hoʻokaʻawale maʻamau. ʻO ka hapa nui o lākou e koho maʻamau i ka uku hapaha, akā aia kekahi mau manu kakaʻikahi i kēia māhele e hāʻawi i ka uku mahina.

ikehu

ʻIke pinepine ʻoe i nā mea nui e like me ExxonMobil, Chevron, Royal Dutch Shell, BP a me Total i ka ʻoihana ikehu. Mahalo ʻoe iā lākou no ka nani o kā lākou hoʻohua a me ka mōʻaukala o ka ulu ʻana o ka ʻāpana i nā makahiki he nui. No ka laʻana, loaʻa iā ExxonMobil a me Chevron ke kūlana Dividend Aristocrat me nā makahiki he 25 mau makahiki o ka hoʻonui ʻana.

Inā ʻoe e ʻimi nei i kahi hoihoi e pili ana i kēia ʻāpana, aia kekahi mau ʻoihana e uku i ka ʻāpana i kēlā me kēia mahina. Hana nui lākou i ka ʻaila a me ke kinoea. Eia naʻe, ʻaʻole kēia me ka pilikia ʻole, no ka mea, ua maʻalahi lākou i nā loli i ke kumukūʻai o ka aila.

ʻO nā pono a me nā kelepona, nā ʻāpana hua kiʻekiʻe maʻamau

ʻO nā mea pono a me nā kelepona he mau ʻāpana makua. He mea paʻakikī iā ʻoe ke loaʻa wikiwiki i nā mahina. ʻO kā lākou kulekele hoʻokaʻawale ʻokoʻa e pili ana i ka poʻe hoʻopukapuka me kahi ʻano pilikia conservative. Hāʻawi nā ʻoihana e hana ana i kēia mau ʻāpana i kahi hoʻihoʻi kiʻekiʻe o ka hoʻopukapuka hoʻohālikelike ʻia me ka awelika mākeke. Hiki iā lākou ke hāʻawi i ka palekana mai ka hoʻonui ʻana a me ka hāʻule ʻana o nā hoʻihoʻi ma nā hoʻopukapuka pilikia ʻole (Livret A, Livret Développement Durable, government bonds).

Eia kekahi, hauʻoli lākou i kahi pale kiʻekiʻe i ke komo ʻana ma muli o ka hoʻoponopono. Kōkua kēia i ka hoʻoikaika ʻana i nā loaʻa kālā hou a me ke kahe kālā paʻa. E ʻike ʻoe i kahi liʻiliʻi ma ka papa inoa o nā waihona hoʻokaʻawale mahina me kahi hui Kanada i ʻāpana o ka 5 kiʻekiʻe.

ʻO nā Avantages e hoopa aku i ka mahele mahina

He ʻokoʻa koʻikoʻi ma waena o ka loaʻa ʻana o ka puʻunaue i kēlā me kēia mahina a me ka ʻāpana i kēlā me kēia hapaha? Eia kekahi laʻana, e lawe kākou i 1 mau ʻāpana o kahi waihona Y $000 e uku ana i ka puunaue makahiki no kēlā me kēia mahele o $10. Ua like kēia me ka hoʻihoʻi makahiki o 1,5% (a i ʻole 15% i kēlā me kēia mahina).

Inā e uku ʻia ka puʻunaue i kēlā me kēia mahina a laila hoʻokomo hou ʻia i loko o ke kumukūʻai ponoʻī, e loaʻa iā ʻoe he $1 i nā ʻāpana ma hope o hoʻokahi makahiki. Me ka ukupanee hui, ʻo 607,6% kāu hoʻihoʻi kālā.

I ka hihia kahi e uku ʻia ai ka uku hoʻokaʻawale i kēlā me kēia hapaha, ʻo ka hua makahiki he 3,75%. Ma hope o hoʻokahi makahiki, e loaʻa iā ʻoe he $1 i nā ʻāpana - he hoʻihoʻi i ka hoʻopukapuka o 586,5%.

I ka wā lōʻihi a me ke kapena mua kiʻekiʻe, hiki ke loaʻa iā ʻoe nā kumukūʻai o kēlā me kēia mahina ma ke ʻano o ka hoʻihoʻi ʻana i ka hoʻopukapuka. Hana ia inā he akamai ʻoe e koho i ka mea maikaʻi loa ma ka ʻāpana.

Ua loaʻa i kekahivantage ke manaʻo nei ʻoe e loaʻa ana kahi uku liʻiliʻi a i ʻole ka loaʻa kālā hou i kēlā me kēia mahina. ʻAʻole ia he mea liʻiliʻi ke hoʻohālikelike ʻia i ka piʻi ʻana o ke kumukūʻai o ke ola a me ka hoʻomau ʻole o nā ʻōnaehana penikala o kēia manawa.

Ke koi nei ʻoe i ka lanakila ma ka mākeke waiwai, me ka manaʻo ʻo ia ka manaʻo hoʻopukapuka maikaʻi loa. Ma ka helu helu a me ka mōʻaukala, ʻoi aku ka nui o ka pilikia o ka hōʻemi ʻana a i ʻole ka hoʻopau ʻia ʻana no nā waihona puʻunaue o kēlā me kēia mahina ma mua o nā kumukūʻai ʻāpana hapaha.

ʻO nā pōʻino o nā waihona hoʻokaʻawale mahina

Ma ka ʻike ʻana i kāna avantages, hiki paha iā ʻoe ke noʻonoʻo i ka nānā mua ʻana he wahi ia o ka maluhia no ka hoʻokomo kālā ʻana i ka mākeke. ʻO ka mea pōʻino, aia ka diabolo i nā kikoʻī. ʻO ke kumukūʻai o kēlā me kēia mahina ke koi ʻia ka hui e huki i kāna kahe kālā i kēlā me kēia mahina e uku i ka coupon i kāna mau mea kuleana. Inā he pilikia i loko a i waho paha i loko o ka hui, hiki ke hoʻopau kēia kulekele hoʻolaha i ka pō.

Pono ʻoe e hoʻomaopopo i ka hapa nui o nā kumukūʻai hoʻokaʻawale o kēlā me kēia mahina. Hoʻohana lākou i nā ʻāpana he cyclical (ʻo ia hoʻi, pili i ka ʻoihana hoʻokele waiwai) a me ke kapikala koʻikoʻi. Hoʻoikaika kēia i nā luna e hoʻolilo i ke kālā he nui i kā lākou ʻoihana e loaʻa ai ka loaʻa kālā. ʻOi aku ka nui o kā lākou ʻaiʻē ma mua o ka awelika mākeke.

Hāʻawi pinepine lākou i ka mahele me ka uku uku kiʻekiʻe. ʻO ka pilikia o ka lākiō uku kiʻekiʻe mau paha ka hopena i ka hōʻemi a i ʻole ka hoʻopau ʻia ʻana o ka puʻunaue ma kahi kokoke a i ʻole ka lōʻihi e hiki mai ana. He aha ke kumu ? No ka mea, ʻoi aku ka pilikia o ka hui i nīnau ʻia i ka wā o ka hoʻokele waiwai a i ʻole ka hanana i ʻike ʻole ʻia.

ʻO ka pilikia Covid-19 kahi hiʻohiʻona maikaʻi loa. Ua haʻalele kekahi mau waihona hoʻokaʻawale mahina i ka uku ʻana i kahi hapa o kā lākou coupon i nā mea kuleana. Me ka hui pū ʻana o ka lakio uku kiʻekiʻe a me ka ʻaiʻē, ʻaʻole i loaʻa i ka ʻoihana ka ikaika kālā e hoʻokomo i kāna ulu e hiki mai ana. ʻO nā keʻena helu (Moody's, Standard & Poor's a me Fitch) he mea paʻakikī iā lākou ke komo i ke kālā ma nā mākeke kālā no ka mea ʻoi aku ka nui o kā lākou ʻaiʻē ma lalo o ka pae hoʻopukapuka.

I kēia manawa, e kiaʻi ʻoe ma mua o kou lele ʻana i ka lua liona me nā waihona hoʻokaʻawale mahina.

Ka papa inoa o nā waihona hoʻokaʻawale mahina o US/Kanada

Eia ka papa inoa o nā hana o kēlā me kēia mahina ma ka ʻāpana

• Agree Realty Corporation (REIT ʻoihana)
• ʻAmelika Waiwai Waiwai (REIT kūʻai kūʻai)
• AGNC Investment (moraki REIT)
• Apple Hoʻokipa REIT (Hotel and Leisure REIT)
• Aloha REIT Noho (moraki REIT)
• Pūʻulu Waiwai a Aval Actions and Values ​​(Finance)
• Banco Badresco (Kālā)
• Broadmark Realty Capital (moraki REIT)
• Noho ʻo Chatham (Hotels and Leisure REIT)*
• Mea koho REIT (REIT retail)
• Chorus Aviation (ʻOihana)
• Cross Timbers Royalty Trust (Energy)
• Dream Industrial REIT (REIT ʻoihana)
• Dream Office REIT (keʻena REIT)
• Dynex Capital (moraki REIT)
• Ellington Waiwai (moraki REIT)
• Hui Loaʻa ʻo Eagle Point
• Nā Waiwai EPR (REIT kūikawā)*
• Enerplus (Energy)
• ʻAhahui Loaʻa Exchange (ʻOihana)
• ʻO Gladstone Capital Corporation (Kālā)
• ʻO Gladstone Commercial Corporation (REIT diversified)
• ʻO Gladstone Investment Corporation (Kālā)
• ʻO Gladstone Land Corporation (REIT Kūikawā)
• Nā Waiwai o ka Honua (nā mea hoʻohana)
• Hui Waiwai Gula (Mea Kumu)
• ʻO Granite Real Estate Investment Trust (REIT ʻoihana)
• Waiwai ʻenehana Horizon (Kālā)
• Inter Pipeline (Energy)
• Itau Unibanco (Kālā)
• Nā Waiwai LTC (REIT mālama ola)
• Ke Kapitala Nui (Kālā)
• Mesa Royalty Trust (Energy)*
• Orchid Island Capital (moraki REIT)
• ʻO Oxford Square Capital (Kālā)
• Pacific Coast Oil Trust (Energy)*
• Pipeline Pembina (Energy)
• Permian Basin Royalty Trust (Energy)
• ʻO ka uku lana o ka Pāka Pennant (Nā Hui Hoʻomohala ʻOihana)
• PermRock Royalty Trust (Energy)*
• Prospect Capital Corporation (Nā Hui Hoʻomohala Pāʻoihana)
• Permianville Royalty Trust (Finance)*
• Loaʻa Loaʻa (REIT retail)
• ʻO Sabine Royalty Trust (Energy)
• ʻO Stellus Capital Investment Corp. (Kālā)
• San Juan Basin Royalty Trust (Energy)*
• Shaw Communications (Telecom)
• SL Green Realty Corp. (Keʻena REIT)
• ʻO Solar Senior Capital (Nā Hui Hoʻomohala Pāʻoihana)
• ʻOihana Stag (REIT ʻoihana)
• ʻOi aku (nā mea hoʻohana)
• Transalta Renewable (Nā pono)
• ʻAmelika Hui Pū ʻIa (Kālā)
• ʻIkepili Vermilion
• Whitestone REIT (REIT kūʻai kūʻai)

NB: *Nā ʻoihana i hoʻokuʻu i ka uku hoʻokaʻawale i ka wā pilikia Covid-19.

Nā mea nui no ke koho ʻana i ka mea maikaʻi loa mai ka papa inoa

I ka wā e hoʻokomo ai i kahi waihona hoʻokaʻawale o kēlā me kēia mahina, e hoʻomanaʻo he ʻoi aku ka nui o ka pilikia e hoʻohālikelike ʻia i ka awelika mākeke no nā kumu i ʻōlelo ʻia ma nā paukū mua. No ke kōkua ʻana iā ʻoe e hana i ka koho maikaʻi loa, eia kekahi mau ʻōlelo koʻikoʻi e hahai ai.

Piʻi ka moʻolelo o nā makahiki ʻokoʻa o ka puʻunaue

ʻO ke kumu koʻikoʻi mua e nānā ʻia ʻo ia ka ikaika o ka puʻunaue. E ʻōlelo pololei kākou, ʻo ia ke kia nui o kēia ʻano hana. Inā ʻāhaʻi ʻia i hoʻokahi tausani ʻāpana, ʻōlelo paha ʻoe pono ʻoe e ʻimi i ka mauʻu ʻōmaʻomaʻo ma kahi ʻē aʻe.

ʻO ka mea mua, e hōʻoia i ka ʻoihana i ka mōʻaukala o ka hoʻonui ʻana i nā makahiki he nui. He aha ke kumu ? No ka mea he hōʻailona ia o ka hilinaʻi i ka hoʻomau ʻana o ka ʻoihana e hiki mai ana.

ʻO ka lua, e hōʻoia ʻaʻole kiʻekiʻe ka lakio uku, ʻo ia kekahi o nā metric i hoʻohana nui ʻia e nānā i ka ikaika o ka puʻunaue, ʻaʻole kiʻekiʻe ma luna o kekahi mau makahiki, ʻo ia hoʻi ma lalo o 80%. Ma ka lohi ʻana i ka ʻāpana ʻulaʻula, ʻaʻole pale ʻia ka hui i nīnau ʻia i kahi hanana hoʻonāukiuki a i ʻole exogenous e koi ai iā ia e hoʻohaʻahaʻa a hoʻopau paha i kāna mahele.

Eia nō naʻe, i ka hihia o REIT ka mea i loaʻa i ka hapa nui o nā waihona hoʻokaʻawale o kēlā me kēia mahina, pono ʻoe e nānā i ka lākiō uku FFO pono e emi iho ma mua o 80-90% i hāʻawi ʻia i ka ikaika nui o ka māhele.

ʻO ka pae aie, kahi hopohopo e nānā pono

Inā ʻaʻole hiki i kahi hui ke uku hou iā ʻoe i ka mahele, ʻo ia ka mea maʻamau no ka nui o ka aie. No ka waihona hoʻokaʻawale o kēlā me kēia mahina, ʻoi aku ka maikaʻi o kēia no ka mea ua hoʻemi ʻia kona lumi no ka hoʻololi ʻana. ʻOiaʻiʻo, pono lākou i ke kālā ma o ka hōʻaiʻē haʻahaʻa e hoʻokō ai i ka ulu.

No ka hōʻoia ʻana i ka hoʻomau o ka māhele, pono ʻoe e nānā i nā koina āpau e like me:

• ʻO Debt/EBITDA e ana i ka lōʻihi o ka manawa e uku ai ka hui i kāna aie. ʻO ka palena ʻaʻole e hoʻonui ʻia ʻo 5, akā no nā ʻoihana waiwai nui hiki iā mākou ke ʻae i kahi palena ma kahi o 6-7.

• ʻO ka helu hōʻaiʻē e pili ana i ka helu kālā o ka ʻaiʻē o kahi hui i wehewehe ʻia e nā keʻena helu (S&P, Moody's, Fitch). E like me ke kula, ʻoi aku ka kiʻekiʻe, ʻoi aku ka maʻalahi o ka hōʻaiʻē. Ma nā mākeke kālā, ua ʻae ʻia ka helu ʻaiʻē kālā, ʻo ia hoʻi, BBB- a i ʻole. Inā haʻahaʻa loa ka helu hōʻaiʻē, ʻike ka ʻoihana i ka piʻi ʻana o ke kumukūʻai o ka ʻaiʻē a paʻakikī hoʻi i ke kālā ʻana i kāna hana.

He aliʻi ke kahe kālā

He mea nui ka kūʻai ʻana a me ka loaʻa kālā no kahi ʻoihana. Akā, pono ia e hana i ka wā e mālama ai a hoʻonui paha i kāna kahe kālā? ʻO ke kahe kālā ke ala pololei o ka hui e puʻunaue i nā ʻāpana i kāna poʻe kuleana.

He aha kāu e nānā pono ai? ʻO ka mea mua, e nānā i ke kahe kālā o ka ʻoihana i nā makahiki ʻelima i hala. Pono loa ia i ka hopena o ke puhi ʻana i kāna kahe kālā. A laila pono e paʻa a ulu paha i kēlā me kēia makahiki. ʻO ka lua, e nānā i ka maikaʻi o ke kahe kālā manuahi.

Inā loaʻa iā ʻoe kahi ʻāpana hoʻokaʻawale o kēlā me kēia mahina me kahi kahe kālā palupalu, hiki iā ʻoe ke kūʻai aku a loaʻa i kahi ʻoi aku ka maikaʻi ma kahi ʻē aʻe.

Nā Kūʻai Māhele Mahina - ʻO ka 5 kiʻekiʻe

1. ʻO Gladstone Land Corporation

2. Nā Waiwai LTC

3. Kāhea ʻo Shaw

4. ʻOihana Stag

5. Loaʻa kālā kālā

Makemake ʻoe e ʻike i ka 5 ʻoi aku ka maikaʻi o nā waihona hoʻokaʻawale mahina. Ua koho ʻia lākou e pili ana i ka hana kālā i nā makahiki ʻelima i hala, nā manaʻo ulu, ka ikaika hoʻokaʻawale a me ka maikaʻi o ke ʻano ʻoihana.

1. ʻO Gladstone Land Corporation

ʻOi aku ka REIT ma mua o nā hale keʻena, nā hale kūʻai kūʻai, nā hōkele a me nā hale kūʻai. Hiki iā ʻoe ke loaʻa nā waiwai ma waho o ke ala i hoʻopaʻa ʻia. I loko o ka ʻohana o nā waihona hoʻokaʻawale mahina, ʻike anei ʻoe iā Gladstone Land Corporation?

ʻO Gladstone Land Corporation kahi REIT nāna e hoʻopukapuka kālā a nona ka ʻāina mahiʻai ma kahi o ʻumi mau mokuʻāina ʻAmelika kahi e ulu ai nā huaʻai a me nā mea kanu, a me nā waiwai mahiʻai e like me ka palaoa, soybeans, kulina, kō a me ka raiki. Ua ʻike ka ʻoihana i kāna ʻoihana mākeke ʻekolu mai kona wahi haʻahaʻa ma Malaki 2020 ma hope o ka pilikia Covid-19.

Kūʻai ʻo Gladstone Land i ka ʻāina mahiʻai a laila hoʻolimalima hou i ka poʻe mahiʻai ma o ka ʻaelike kūʻai a hoʻolimalima. ʻO nā hoʻolimalima he ʻekolu mau hoʻolimalima ʻupena, ʻo ia hoʻi, e uku nā mea hoʻolimalima i nā koina āpau (ʻauhau waiwai, nā koina mālama, ʻinikua) me ka hoʻolimalima.

Hoʻokomo nui ʻia kāna mau waiwai i nā huaʻai a me nā mea kanu, ʻo ke koi no ka mea ʻaʻole i maʻalahi i nā vagaries o ka pōʻai waiwai. ʻO ka mea ʻē aʻe, ʻoi aku ka liʻiliʻi o nā waiwai mahiʻai ma muli o ka liʻiliʻi o kā lākou kumukūʻai ma nā mākeke kālā.

Ma ka ʻaoʻao kālā, loaʻa i ka Gladstone Land kahi kālā kālā e ulu nei i kēlā me kēia makahiki, e hiki ai iā ia ke hāʻawi mau i ka ʻāpana i nā mea kuleana. ʻO kāna uku FFO he 83%, no laila ʻaʻohe kumu e hopohopo ai e pili ana i ka hoʻokaʻawale ʻana i ka wā pōkole a i ka manawa waena. ʻO ka ʻaoʻao haʻahaʻa wale nō ka pae o ka aie me ka lākiō aie / EBITDA ma luna o 15. Akā ma ka ʻaoʻao ʻē aʻe, paʻa nā kumu waiwai o ka ʻoihana.

Loaʻa iā Gladstone Land nā mea hoʻokele ulu e hiki mai ana. ʻO ka mea mua, kākoʻo ʻia nā pono meaʻai e ka piʻi ʻana o ka heluna kanaka o ka honua. ʻO ka lua, ke emi nei ka hāʻawi ʻana i ka ʻāina mahiʻai ma ʻAmelika me ka haʻahaʻa o ka heluna kanaka. ʻO ka ʻoiaʻiʻo, ua hoʻololi ʻia kēlā me kēia ʻāina mahiʻai e nā hale, nā hale, nā hale kūʻai, nā hale keʻena, etc. Ua wehewehe ʻia kēia e ka hoʻonui nui ʻana o ke kūlanakauhale.

ʻO ka hui pū ʻana o ka ulu ʻana o ka heluna kanaka a me ka hāʻule ʻana o ka ʻāina mahiʻai e hāʻawi i kahi manaʻo maikaʻi e pili ana i ka ulu ʻana o Gladstone Land. ʻO ka lakio hoʻolako/koi e makemake i nā hoʻopukapuka kālā ma ka ʻāina mahiʻai. I ka pōʻaiapili kahi pilikia nui ka hoʻomehana honua i nā makahiki e hiki mai ana, e hoʻoikaika wale ana kēia ʻano. Eia kekahi, ma kahi o ka hoʻokaʻawale ʻana, ʻo Gladstone Land Corporation kahi pili LONG CALL no ka hoʻonui ʻana a me ka piʻi ʻana o nā waiwai mahiʻai i kahi liʻiliʻi.

2. LTC Waiwai

Ua ʻike paha ʻoe hiki ke hoʻolilo i ka ʻoihana mālama olakino ma o REITs? Ma waena o nā ʻano waiwai, ʻo REIT ka mālama olakino ʻoi loa ke kūpaʻa i nā manawa pilikia, ʻoiai inā ua hōʻino ʻia ka pilikia Covid-19 i ko lākou inoa.

Inā makemake ʻoe, no ke aha ʻoe e nānā ʻole ai i LTC Properties, ʻo ia wale nō ka REIT mālama ola e uku i ka ʻāpana i kēlā me kēia mahina.

ʻO LTC Properties kahi REIT nona a lawelawe ma kahi o 180 kahu hānai a me nā keʻena ola kōkua. Hoʻohālikelike ʻia kāna waihona waiwai ma waena o nā ʻano ʻelua o ka hoʻokumu ʻana. Hāʻawi ʻia lākou ma nā mokuʻāina ʻo 27 US no 30 mau mea hana.

ʻO nā hoʻolimalima a i ʻole nā ​​ʻaelike hoʻolimalima ʻekolu mau hoʻolimalima. Kōkua kēia i ka hoʻomaikaʻi ʻana i ka hoʻokele waiwai a hōʻemi i ka pilikia o ka mea hoʻohana. Eia kekahi, ʻo LTC Properties ka mea nona ka waiwai a me ka mea hoʻomohala.

Ma ka ʻaoʻao kālā, ua ʻoi aku ka ʻāpana o ka LTC Properties ma mua o ka laina ʻulaʻula me ka lākiō uku FFO o 89%. ʻO kāna hua maʻamau ma waena o 5-6%. Eia nō naʻe, pono ʻoe e noʻonoʻo i ka pilikia Covid-19 ʻoiai ʻaʻole i ʻoki ʻo LTC Properties i kāna mahele.

Inā ʻoe e hoʻonui i ka pōʻai, ʻaʻole mākou e ʻōlelo e pono mākou e makaʻala loa. Ma kekahi ʻaoʻao, ʻano paʻa kona pae kālā. Ma ka ʻaoʻao ʻē aʻe, mahalo ʻia nā lakene aie no kahi ʻoihana koʻikoʻi nui: aie / EBITDA ma 5,6 a me ka aie / kaulike ma 86%.

Loaʻa i ka LTC Properties kahi mea hoʻokele ulu ʻole i nā makahiki e hiki mai ana: ka ʻelemakule o ka heluna kanaka. E ʻike ʻo Baby Boomers, ʻo ia ka hapa nui o ka heluna kanaka ma nā ʻāina Komohana, e piʻi aʻe ko lākou pono olakino. No laila e koi nui ʻia no ka mālama kahu hānai a me ka noho ʻana i kōkua ʻia. He mea maikaʻi ia no nā LTC Properties. Ma muli o ka ikaika o kēia koi ma muli o kahi pūʻulu nui o ka poʻe i ʻoi aku ma mua o 80, e hōʻemi ana kēia i ka pilikia o ka hoʻolimalima ʻana a me nā hakahaka hoʻolimalima.

3. Shaw Communications

Loaʻa iā Shaw Communications ka ʻokoʻa o ka helu ʻana ma Kanada a me ʻAmelika Hui Pū ʻIa. E ʻōlelo pololei kāua, he pōhaku makamae kēia no nā mea hoʻopukapuka hoʻokaʻawale.

I ka honua o nā mea lawelawe kelepona, ua maʻa ʻoe i ka ʻōlelo ʻana iā AT&T, Verizon ma ʻAmelika Hui Pū ʻIa a me BCE, Telus ma Kanada, e uku ana i ka ʻāpana i kēlā me kēia hapaha. Akā me ka ʻāpana mahina i hāʻawi ʻia e Shaw Communications, hoʻolalelale ʻoe i ka hana o kāu loaʻa kālā.

ʻO Shaw Communications he mea hoʻokele kelepona ʻo Kanada. ʻO kāna ʻoihana e pili ana i ʻelua mau hana, ke kelepona uila a me ke kelepona. Hāʻawi ka hui Kanada i kāna mau mea kūʻai aku (nā kanaka a me nā ʻoihana) i nā lawelawe kelepona paʻa, ka pili pūnaewele fiber optic, nā inoa inoa wikiō satellite, etc. Loaʻa ka loaʻa kālā ma Kanada a loaʻa mai nā lawelawe mea kūʻai aku.

Ua hakakā ʻo Shaw Communications i ka hapa lua o nā 2010s i kona hoʻololi ʻana i kāna ʻoihana. Ua makemake ka hui Kanada e nānā hou i kāna ʻoihana koʻikoʻi, ke kelepona, a me ka haʻalele ʻana mai ka media i manaʻo ʻia ʻaʻole hoʻolālā. Ma Malaki 2025, hiki ke kūʻai ʻia ʻo Shaw Communications e kāna mea hoʻokūkū ʻo Rogers, akā ʻaʻole i lokahi kēia ʻōlelo hoʻopio no laila ʻaʻole maopopo ia e hoʻokō ʻia.

ʻO ke kūpono, ua loli ka hana o ka loaʻa kālā ʻoiai ua ulu ka waihona mea kākau. Pono ʻoe e hopohopo e pili ana i kāu mahele?

No ka manaoio i na maka, aole. ʻOi aku ka liʻiliʻi o ka uku uku ma luna o ka laina ʻulaʻula ma 81%. Ma ka ʻaoʻao ʻē aʻe, ua hiki iā Shaw Communications ke hoʻoponopono i kona pae kālā, a laila mālama i kahi pae o ka aie ma lalo o ka mana me kahi aie / EBITDA ma 2,82. Eia kekahi, hiki iā ia ke loaʻa ka helu helu hoʻolimalima mai Standard & Poor's i mea e maʻalahi ai ke komo kālā mai nā mākeke kālā.

ʻOiai he hoʻokūkū koʻikoʻi ka hoʻokūkū Kanada ma ka ʻoihana telecom, aia kahi lumi e loaʻa ai ka māhele mākeke. Eia kekahi, ʻo ia kahi ʻāpana e kūʻē maikaʻi i ka wā o ka recession.

Hiki ke hoʻonui ʻia ka 5G no Shaw Communications. Me ka hoʻokaʻawale ʻana ma kahi o 3%, ʻo ia kahi waihona hoʻokaʻawale mahina hoihoi e hoʻokomo i loko o kahi kōpili. Eia naʻe, hiki i ka ʻaelike me Rogers ke alakaʻi i ka nalo ʻana o ka hui mai ka mākeke kūʻai inā ʻae nā luna hoʻokūkū. Inā ʻaʻole ia e hana, loaʻa iā ʻoe kahi manawa kūʻai waiwai nui ma waena o nā waihona hoʻokaʻawale mahina.

4. ʻOihana Stag

ʻO ke kālepa pūnaewele kahi ʻano kumu e hoʻomau ʻia no nā makahiki e hiki mai ana. ʻO ka liʻiliʻi liʻiliʻi, ke lawe mālie nei ia i ka mākeke ma ke kālepa kino. Ma kahi o ka pili ʻana i nā mea pāʻani maʻemaʻe e like me Amazon, Walmart, Ebay, Alibaba, JD.com, a i ʻole nā ​​​​mea lawe FedEx a me UPS, e hoihoi i ka Stag Industrial, ka mea e hoʻokaʻawale i kahi hapa o kāna huli ʻana ma o nā mea hoʻolimalima e hana ana i ke kālepa pūnaewele.

ʻO Stag Industrial kahi REIT ʻoihana e pili ana i ka loaʻa ʻana a me ka hoʻokele hoʻolimalima ʻana i nā waiwai ʻoihana ma waena o 39 mau mokuʻāina ʻo US. ʻO kāna waihona waiwai waiwai ka mea nui i nā hale kūʻai. Hoʻohana ʻia ke koena i nā hana hana māmā.

He ʻano like ʻole kāna kōpili mea kūʻai ma ka pae ʻāpana. ʻO kāna mau mea kūʻai mua he Amazon, FedEx, Cotsco Wholesale a me DHL i ka e-commerce, Ford i ka automotive, Perrigo Company i ka mālama olakino, Schneider Electric, XPO Logistics i ka ʻoihana, etc. Kōkua kēia i ka hōʻemi i ka pilikia o ka hoʻolimalima paʻamau.

Ke hoʻokomo ʻoe i kahi REIT, ʻoi aku ka maikaʻi o ka loaʻa ʻana o nā mahele maʻamau. E pili ana i ka mahele o Stag Industrial, ua hāʻule maoli ia i 2019 ma hope o 7 mau makahiki o ka hoʻonui ʻana. Ua wehewehe ʻia kēia e ka loaʻa nui ʻana o ka waiwai paʻa i kumu i ka hāʻule o kāna kahe kālā i ka wā pōkole. Akā ma ka ʻaoʻao ʻē aʻe, ʻo kāna mau hoʻopukapuka he kumu ia no ka hoʻokumu ʻana i ka waiwai o ka mea kuleana no ka wā lōʻihi.

I ka makahiki 2020, ua hoʻomau ka hui ʻAmelika i kāna huakaʻi i mua ʻoiai ʻo ka pilikia Covid-19. Ua hoʻonui ʻia ma kahi keneta ma 2020, ʻoiai he hōʻailona ia.

ʻO kāna hōʻaiʻē / EBITDA ma 5,2 a me kāna uku uku FFO ma 72,8% ʻaʻole ia e hoʻāla i ka hopohopo e pili ana i ka ikaika o kēia manawa o kāna mahele. Eia kekahi, aia kona kumukūʻai kumukūʻai ma nā kiʻekiʻe o ka mōʻaukala a ke hana nei ʻoi aku ka maikaʻi ma mua o ka awelika no ka ʻāpana REITs i ka manawa waena a lōʻihi.

Ua hauʻoli ʻo Stag Industrial i ka loaʻa ʻana ma kahi o 4% a me kahi ʻāpana mahina. Ua ʻoi aku ka nui o ka REIT no ka mea ʻo kāna P/FFO (ka like me ka PE ma nā waiwai paʻa i helu ʻia) he 18,5, a i ʻole 13% o ka awelika P/FFO o REIT. Eia naʻe, ʻaʻole pili kēia i ka maikaʻi o ka ʻoihana. ʻOi aku ka maikaʻi o ka kali ʻana i kahi huki hou e kūʻai aku ma ke kumu kūʻai kūpono.

ʻO ka ʻoiaʻiʻo ʻo Stag Industrial kahi waihona waiwai ʻoi aku ka liʻiliʻi o ka maʻalahi o ka pōʻai waiwai he waiwai nui ia no ka mea hoʻopukapuka e ʻimi nei i kahi hoʻihoʻi kiʻekiʻe a paʻa. Eia kekahi, ʻo ka ulu ʻana o ke kūʻai aku ma ka pūnaewele e alakaʻi i ka nui o ka noi no nā hale kūʻai. ʻO kahi koho palekana ʻo nā inoa nui i ka e-commerce e hoʻomaikaʻi ana i kahi ʻāpana o kā lākou uku hana ma o ka hoʻolimalima ʻana i nā hale kūʻai mai Stag Industrial.

5. Loaʻa kālā

ʻO kēia ka waihona hoʻokaʻawale mahina e makemake ai nā mea a pau e loaʻa iā lākou. Mai ka makahiki 2020, ua hui pū ʻo ia i ka hui kūʻokoʻa o nā aristocrats dividend, ʻo ia hoʻi, ʻo nā hui ʻAmelika i hoʻonui i kā lākou mahele no ka liʻiliʻi o 25 mau makahiki. Eia kekahi, ʻo ia wale nō ka waihona hoʻokaʻawale mahina me kēia pono. Hiki iā ʻoe ke ʻike i ke kumu e makemake ai nā mea hoʻopukapuka.

ʻO ka Realty Income kahi REIT e kālele ana i nā waiwai kalepa me 84% o kāna kōpili waiwai. Hāʻawi ʻia ke koena koena ma waena o ka ʻoihana (11,5%), nā keʻena (3%) a me ka mahiʻai (1,5%). ʻO ka māhele ʻāina o kāna waihona waiwai waiwai i koʻikoʻi loa ma ʻAmelika Hui Pū ʻIa ma 49 mau mokuʻāina, Puerto Rico a me United Kingdom.

ʻO nā mea hoʻolimalima he 20 kiʻekiʻe, nona ka 51% o kāna mau hoʻolimalima, e komo pū nā hale kūʻai nui e like me Walgreens, 7-Eleven, Dollar General, FedEx, Dollar Tree, Sainsbury's, Walmart, CVS Pharmacy, Tesco, Home Depot a me Kroger. ʻO nā ʻaelike hoʻolimalima me nā mea hoʻolimalima he triple-net-lease me ka manaʻo e hōʻemi i kahi hapa o kāna mau koina hana a hāʻawi iā ia iho i wahi e hoʻololi ai e hana i nā kūʻai e like me Vereit.

ʻO kēia hoʻololi ʻana o kāna mea kūʻai aku a me ka waihona waiwai e hōʻike ana i ke kumu i hoʻokō mau ai ʻo Realty Income i ka ulu ʻana o kāna FFO a me ke kahe kālā, a ua puʻunaue i ka ʻāpana ulu no ka liʻiliʻi o 25 mau makahiki.

ʻOiai ke kiʻekiʻe o kāna uku uku FFO ma 83,4%, mālama ʻo Realty Income e noho ma luna o kāna hoʻokele kālā e mālama i kona kūlana Dividend Aristocrat. ʻAʻole i hopohopo nā ʻoihana hōʻaiʻē e hāʻawi iā lākou i ka helu hoʻolimalima.

I kekahi hihia, ʻO Realty Income ka ʻaila o ka mea kanu ma waena o nā waihona hoʻokaʻawale o kēlā me kēia mahina e hoʻomaikaʻi i kāna mōʻaukala kūʻokoʻa o ka ulu ʻana. Hiki iā ʻoe ke hoʻolilo iā ia i pōhaku kihi o kāu kōpili, e hāʻawi ana i kahi kaulike kūpono ma waena o ka loaʻa, ka loaʻa hou ʻana, a me ka mahalo mau ʻana o ke kālā.

I ka manawa hea e kūʻai ai e loaʻa i nā māhele mahina?

No ka mea he mau ʻoihana kēia e puʻunaue i ka ʻāpana i kēlā me kēia mahina, ʻo ka nīnau o ka wā e kūʻai ai iā lākou ʻaʻole ia he mea nānā. ʻO ka mea wale nō e makaʻala ai, ʻo ia ka nānā ʻana i ka kalena o nā lā hoʻokaʻawale.

Inā makemake ʻoe e loaʻa ka ʻāpana, kūʻai i ke kumukūʻai ma mua o ka lā ex-dividend. Eia naʻe, he mea naʻauao ke hana i kēia ma nā kūlana mākeke e kūpono iā ʻoe, ʻo ia hoʻi ma nā kumukūʻai kūpono a i ʻole ma kahi hoʻonohonoho ʻenehana bullish ma ka pae pakuhi.

Pehea e kūʻai ai i nā ʻāpana ʻāpana

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• E kūʻai i nā waihona āu e makemake ai
• E hōʻiliʻili i kāu mahele i kēlā me kēia makahiki!

Panina

Hāʻawi nā waihona hoʻokaʻawale mahina iā ʻoe i nā ʻano avantages ka mea e waiho ole i ka poe hoopukapuka waiwai. ʻO ka mua, ʻohi ʻoe i ka loaʻa kālā i kēlā me kēia mahina. ʻO ka loaʻa ʻana o ka loaʻa kālā keu no ka uhi ʻana i kāu mau hoʻolimalima pilikino e hoʻokipa mau ʻia. ʻO ka lua, hāʻawi lākou i ka hoʻihoʻi ma luna o ka awelika mākeke a me ka hoʻonui. Ua lawa no ka uku hapa no ka lilo o ke dala i kela makahiki keia makahiki.

Eia naʻe, ʻaʻole hōʻike ka hoʻokomo ʻana i nā waihona hoʻokaʻawale i kēlā me kēia mahina. ʻOi aku ka pilikia i ka hoʻohālikelike ʻia i nā waiwai koʻikoʻi e like me Johnson & Johnson, Air Liquide, Coca-Cola, Pepsico, etc. E manaʻo i ka ʻoki ʻoki ʻana a i ʻole ka hoʻopau ʻana i ke ahi liʻiliʻi. No laila ke koʻikoʻi o ke koho. No ke aha ʻaʻole e nānā pono i ka 5 kiʻekiʻe o nā waihona hoʻokaʻawale mahina.

Inā mākou e hoʻokomo iā mākou iho i kou mau kāmaʻa, he mea kūpono ke hoʻolaʻa i kahi hapa liʻiliʻi o kāu kōpili iā ia, me kahi makemake no REIT i ʻike ʻia i ʻike ʻia e nā mea hoʻopukapuka kūʻai.