Another value investor

Event Driven, Deep Value w/ Catalyst, Real Assets, EM. 中文/Eng

[Another value investor @RecoveryTrade]

@oldrightonig My mistake for selling $RL shares in 2021. $RL made sense to me as a covid recovery play. I’ll never understand the psychology of the shopper who pays >$600 for a jacket that probably sells for $34 at $TJX or $15 on $EBAY

[Another value investor @RecoveryTrade]

@davidein @BATMongoose @jamesfishback So curious about how this guy was hired …and does @davidein ever hire former pod analysts.

[Another value investor @RecoveryTrade]

@ACapitalLP Similar thought recently. Wondering if UBS is outsourcing equity research to India? Every time a UBS analyst asks a question, it seems to be an Indian with a thick accent. I have no bias, but shouldn’t a “high touch” Wall Street job go to native English speaker?

[Another value investor @RecoveryTrade]

@tierrapartners Inclined to agree but core PCE in every time period (3, 6, 12 months) is around 70-100bps above target, and not showing a favorable trend. Strip out NYC & Co and still above target.

[Another value investor @RecoveryTrade]

Generational transition at $AHRT continues. Plausible that a sales process will occur in 2027 after $AHRT completed its occupancy inflection.

https://t.co/EzyN5AN2qa

[SEC Filings Digest @USCorpFilings]

$AHRT Board Changes:

On November 5, 2026, AH Realty Trust, Inc. announced that Daniel A. Hoffler resigned from the Board of Directors, and David Z. Hirsh was appointed as an independent director to replace him, effective immediately; Hirsh has over 30 years of real estate investment experience.

(Visit stockinsights dot ai for full context)

[Another value investor @RecoveryTrade]

$AHH trading at nearly an 11 cap rate, noticing that 2Q results and stabilized NOI look much better vs 1Q. New mgmt conveniently negotiated a new share based comp package at the all-time low (after cutting the dividend and raising new equity).

[Another value investor @RecoveryTrade]

$AHRT / $AHH reports (maybe its first ever) improvement to guidance, and no acquisitions planned for 2026.

[Another value investor @RecoveryTrade]

@grok @WantMakeRE @ColeKenefsky_ So it looks like 4Q28 to 4Q29…. That is not soon.

[Another value investor @RecoveryTrade]

@grok @WantMakeRE @ColeKenefsky_ So that implies the Austin market will reach 95% occupancy in 2030 or later. Is that correct? What is the probability of significant rental rate growth before the overall Austin market achieves 95% occupancy?

[Another value investor @RecoveryTrade]

@grok @WantMakeRE @ColeKenefsky_ @ColeKenefsky_ Colliers data excludes lease-up apartments. Market occupancy is 89-91%. If you compare net absorption vs new supply, the difference of sub 2,000 units implies 3+ years to absorb before the overall market reaches 94-95%. Curious to hear how I might be wrong?

[Another value investor @RecoveryTrade]

Since I made this tweet, Canadian mid-caps multi-family REITs have sh*t the bed. $MRG.UN is pursuing a nonsensical related party deal, following value destructive deal in 2025 by $HOM.UN, and the evolving corporate governance crisis of $HR.UN.

[Another value investor @RecoveryTrade]

Interesting dynamic last 6 months, large multi-family REITs with low leverage ($MAA, $EQR, $ESS) significantly underperform mid cap REITs in tertiary markets with much higher leverage ($CSR, $MRG.UN, $NRR.UN).

[Another value investor @RecoveryTrade]

Another good reason to be holding mid-cap apartment REITs exemplified by $CSR announcing a strategic review today.
https://t.co/Xm57CkgVWj

[Another value investor @RecoveryTrade]

$NXRT approaching all-time low, maybe going to $10/sh. My humble opinion is that mgmt will announce a dividend cut and sale process / strategic review. They soft announced this in last weeks’s call. Likely gets bid at $20-30/sh, with mgmt rolling into a private deal.

[Another value investor @RecoveryTrade]

@Mr_Neutral_Man @rhunterh I’ve dipped my toes in the Vornado prefs recently.

[Another value investor @RecoveryTrade]

@kjoules Super cringe..

[Another value investor @RecoveryTrade]

Parentco delisting and acquiring SF REIT $2191.HK (with a reasonable premium) was not on my list of likely events for 2026. Next should be privatizing the listed stub of KLN Logistics $0636.HK, which is a high quality business trading at 7x P/E.

[Another value investor @RecoveryTrade]

SF REIT $2191.HK cuts rents payable by its parent by 20-45％ in "realignment with prevailing market". Leverage was elevated at >7x ND/EBITDA before the rental cut, 90% payout ratio also elevated. Not uncommon for REITs to be listed with above-market rents, followed by a rug pull.

[Another value investor @RecoveryTrade]

@Mr_Neutral_Man Congrats for making money on liquidation trades! This has been a more difficult year for my style of pre-announce situations ($CSR, $HR.UN, $HOM.UN, $SKG.AX)

[Another value investor @RecoveryTrade]

@LT3000Lyall @trader_ferg $GQG now trades at a 4x P/E, why is this thing listed?

[Another value investor @RecoveryTrade]

@jayparsons Contrarian take here - regulatory fears would be the best thing that could ever happen to sunbelt. Save the developers from themselves.

[Another value investor @RecoveryTrade]

@rinnecap Just a few paragraphs in argues for more forever war with Iran. 🤦

[Another value investor @RecoveryTrade]

@MikeFritzell Reluctant owner