Private Eye Capital

Rarely in doubt, Frequently wrong. Stock & REIT ideas. #FinTwit DJ. Mainly followed by TwitterX ladybots

[Private Eye Capital @PrivateEyeCap]

Some thoughts on 2Q25 Resi #REITs results & cap rates, per door, expected IRRs:

https://t.co/v9MKK5IiRF

$AVB $CPT $ESS $EQR $MAA $INVH $AMH $ELS $SUI $NXRT $CSR $BRT $UDR $VNQ $TLT

[Private Eye Capital @PrivateEyeCap]

@RealAssetsValue So it's a pile of cash at a 22% discount earmarked for data centers. Presumably they should be able to get better terms at (higher cap rates/escalators) given all the dislocation in these markets?

[Private Eye Capital @PrivateEyeCap]

@yenoms https://t.co/BbEimRcpeS

[Private Eye Capital @PrivateEyeCap]

Two4Tues
https://t.co/epYiuKckKC

[Private Eye Capital @PrivateEyeCap]

$APO - $UDR JV Breakdown - we might see more of these in #REIT land https://t.co/utOSxiZNOy

[Private Eye Capital @PrivateEyeCap]

Tailwind into 2027 for $UDR with positive 80-100bps earn-in for 2027 (v. 0 in 2026) / 2% Loss-to-lease today vs 2% gain-to-lease 12 months ago

[Private Eye Capital @PrivateEyeCap]

Norm starts Normin around the 2:30 mark

https://t.co/BIkxkEPxXX

[Private Eye Capital @PrivateEyeCap]

From today's $APO call - This is why Interactive Brokers charges you more capital to buy a company's bonds than that same company's stock. Liquidity is thin.

[Private Eye Capital @PrivateEyeCap]

https://t.co/BbEimRbRpk

[Private Eye Capital @PrivateEyeCap]

Bought some 2064 $META bonds with nearly 7.5% YTM -anyone else buying very long dated corporates? Whaddya like?

[Private Eye Capital @PrivateEyeCap]

And the $META 2066s

[Private Eye Capital @PrivateEyeCap]

@JeffBeckMadDog @chrisvirnig @Mr_Neutral_Man $370-400k would be my estimate for avg home value in the port. So not 460k. But at 26.75, EV/home is $280k so a huge discount and they are working to close it

[Private Eye Capital @PrivateEyeCap]

Steady as she goes at Invitation. Do you want your #REITs to sell assets at full value and repo at a big discount? Check out $INVH. Bought back $1 bn and authorized another half a billy. Nice accretion at these levels.

[Private Eye Capital @PrivateEyeCap]

https://t.co/gbLFkmziFX

[Private Eye Capital @PrivateEyeCap]

https://t.co/kIITTxnbHX

[Private Eye Capital @PrivateEyeCap]

Another activist (Irenic) enters the octagon with a 4% stake in Big Yellow $BYG $BYG.GB $BYG.LN and pushes for a sale. Seems like a pretty decent chance this happens. Still looks to have 35%+ upside https://t.co/YlPGezguH5

[Private Eye Capital @PrivateEyeCap]

Ancora pitches activist plan for Big Yellow $BYG.LN $BYG.GB today at Sohn. About a year ago $BX was sniffing around https://t.co/TLV4dwzthg