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]

@BondKingJanusH1 It's just EV/homes owned so ~$279k/home at 25.60

[Private Eye Capital @PrivateEyeCap]

4Q19 Invitation Homes traded for $300-314k/home; essentially in-line w/ median US home price
4Q25 (today) $INVH trades for $298k/home v. median US home price $400k+
#SFR #REITs $AMH

[Private Eye Capital @PrivateEyeCap]

@yenoms i'm still holding mine

[Private Eye Capital @PrivateEyeCap]

According to the people of Twitter, there's an 85% chance Whitestone $WSR being acquired and most folks think it'll be done north of $17
https://t.co/aCxcW8HUvX

[Private Eye Capital @PrivateEyeCap]

What will Whitestone $WSR fetch?

[Private Eye Capital @PrivateEyeCap]

@ajobst the Grandstanding Liars Bill to Displace Working Families is not to be questioned

[Private Eye Capital @PrivateEyeCap]

https://t.co/05EZpCMjUm

[Private Eye Capital @PrivateEyeCap]

https://t.co/SWRKK7kCTk

[Private Eye Capital @PrivateEyeCap]

@yenoms With a 9.2% owner who knows the asset well having bid $15.20 fundamental downside is quite limited I think, making for a good r/r

[Private Eye Capital @PrivateEyeCap]

@RealAssetsValue overall, i think they've been selling the bottom quartile of their properties so even if those deals have been struck in the low 7s, to me that suggests the overall portfolio should go in the 6s

[Private Eye Capital @PrivateEyeCap]

Grabbed some more $WSR AH. IMO mgmt was wise to reject the lowball $15.20 bid. Sunbelt shopping centers (Austin/Dallas/Houston) are hot. I'll say this fetches $17.50-22 (6-7 cap). $BX $TPG $KIM $BRX $KRG $SITC

[Midwest Advisors LLC @AdvisorsMidwest]

$WSR

[Private Eye Capital @PrivateEyeCap]

https://t.co/NMaICOBr5B

[Private Eye Capital @PrivateEyeCap]

$CBRE 2H Cap Rate survey Cl A sunbelt retail $WSR

[Private Eye Capital @PrivateEyeCap]

@yenoms I think it is D. I think these are the right assets in the right markets at a time when shopping centers are hot (many of the shopping center reits are near multiyear highs). But idk what the probability of a sale is so I didn't go ballz deep.

[Private Eye Capital @PrivateEyeCap]

What will Whitestone $WSR fetch?

[Private Eye Capital @PrivateEyeCap]

https://t.co/UIVqB2NUoW

[Private Eye Capital @PrivateEyeCap]

https://t.co/mqllMm6aKC

[Private Eye Capital @PrivateEyeCap]

With $WELL CEO Mitra (he likes accretive deals) taking over as Chair of $PSA coupled w/ historically wide imp cap rate spread (nearly 8 for $SHUR v. low 5s PSA) makes me think there is a good chance $PSA tries to buy the 65% it doesn't own of Shurgard. https://t.co/SzFoV2xbAw