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Mid Cap Real Estate USA Stocks – Second Quarter REIT Trades

August 11, 2013 | About:
Sally Jones

Sally Jones

49 followers
In the second quarter of 2013, billionaire investors made 18 trades in the mid-cap real estate sector of U.S. companies. Here are several highlights focusing on new holdings. [/b]

[b]Extra Space Storage Inc. (EXR)


An industrial REIT company, Extra Space Storageis up 33% over 12 months, with a market cap of $4.85 billion; its shares trade at around $43.72 with a P/E ratio of 36.30. The dividend yield is 2.52%.

Historical pricing:

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Formed in 2004, Extra Space Storage Inc. is a self-managed real estate investment trust formed to own, operate, manage, acquire, develop and redevelop professionally managed self-storage facilities.

Extra Space Storage Inc. reported results for the second quarter ended June 30, 2013. The company achieved funds from operations (FFO) of $0.50 per diluted share, representing a 31.6% increase in FFO compared to the second quarter of 2012. It also increased same-store revenue and net operating income by 7.8% and 10.4%, respectively, compared to the same period in 2012. The company increased same-store occupancy by 180 basis points to 90.8% at June 30, 2013, compared to 89.0% as of June 30, 2012, and acquired four properties for approximately $48.3 million. Extra Space Storage paid a quarterly dividend of $0.40 per share, a 60.0% increase over the prior quarter, according to a company press release.

Guru Action: As of June 30, 2013, Manning & Napier Advisors Inc. bought another new holding of 70,990 shares at an average price of $42.32 for a gain of 3.3%. In the same quarter, Columbian Wanger sold 2,500 shares at an average price of $42.32 for a gain of 3.3%. In a long trading history, Columbian Wanger has averaged 196% on 3,843,900 shares bought at an average price of $14.77 per share for a gain of 196%.

In the same quarter, Ken Fisher sold 8,205 at an average price of $42.32 for a gain of 3.3%. He has averaged a gain of 121% on 526,477 shares bought at an average price of $19.80 per share.

Here are more EXR stakeholder details.

DCT Industrial Trust Inc. (DCT)

DCT Industrial Trust (DCT), an industrial REIT, is up 23% over 12 months, with a market cap of $2.22 billion; its shares trade at around $7.59 with a P/B ratio of 1.60. The dividend yield is 3.69.

Historical pricing:

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Formed in 2002 as a real estate investment trust, DCT Industrial Trust Inc. owns and operates high-quality bulk distribution and light industrial properties in high-volume distribution markets in the U.S. and Mexico.

The company reported second quarter 2013 results with net income attributable to common shareholders as $10.8 million, or $0.04 per diluted share, compared with a net loss attributable to common shareholders as $15.8 million, or $0.06 per diluted share, reported for the same quarter in 2012.

Guru Action: As of June 30, 2013, Guru shareholder Chris Davis bought a new holding of 947,856 shares at an average price of $7.57 for a gain of 0.3%. Davis sold out in the previos quarter, selling 6,035,324 shares at an average price of $7.11 for a gain of 6.8%.

Chuck Royce sold out his DCT unloading 1,220,000 shares at an average price of $7.57 for a gain of 0.3%.

Other Gurus holding DCT include Steven Cohen and Columbia Wanger.



CBL & Associates Properties Inc. (CBL)


An active developer, CBL is one of the largest mall REITs in the U.S.

CBL & Associates Properties Inc. (CBL) is up 5% over 12 months, with a market cap of $3.68 billion; its shares trade at around $21.64 with a P/E ratio of 40.20. The dividend yield is 4.16.

Historical pricing:

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CBL & Associates owns, holds interests in or manages 159 properties including 95 market dominant enclosed malls and open-air centers.

CBL & Associates reported second quarter 2013 results, highlighting a net operating income increase of 1.8% in the second quarter 2013 over the prior-year period. According to a company press release, the company achieved funds from operations (FFO) of $0.55 per diluted share, as adjusted, an increase of 3.8% for the second quarter of 2013, compared with $0.53 for the same quarter a year ago. The company’s portfolio occupancy increased 70 basis points to 93.0% from 92.3% in the same quarter a year ago.

Guru Action: As of June 30, 2013, Manning & Napier Advisors Inc. bought a new holding of 112,190 shares at an average price of $23.72, taking a loss of 8.8%.

In the same quarter, Chris Davis also bought 1,069,603 shares at an average price of $23.72, taking a loss of 8.8%. In a long trading history, Davis has averaged a gain of 188% on 6,693,945 shares bought at an average price of $7.52 per share.

Other Gurus holding CBL include Jim Simons and David Dreman.

GuruFocus Real Time Picks reports the stock purchases and sales that Gurus have made within the prior 2 weeks. The report time lag can be as short as 2 days after the date of the transaction. This feature is for Premium Members only.

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About the author:

Sally Jones
Sally Jones writes about Real Time Picks. She says, "I truly enjoy watching the Gurus in realtime and telling their story."

Rating: 2.2/5 (5 votes)

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