Ventas ’ spin-off of skilled nursing facilities and Ardent acquisition add value for shareholders.
Although we think Ventas overpaid for its most recent acquisitions, this doesn't affect our valuation.
We prefer REITs with reasonable leverage, moaty assets, demonstrated historical success across economic cycles, identifiable growth drivers, and reasonable margins of safety.
Interest-rate fears bring utility and real estate valuations in line, but the broader market still looks fully valued.
The recent wave of M&A continued this week, but some mergers look better than others for shareholders.
We recently upgraded a few banks and enterprise software firms to wide moat status, and raised our fair value estimates on health-care REITs.
We prefer the yield, stability, and growth prospects of the triple-net structure over RIDEA.
Our favorites can do well even with potentially higher interest rates.
Trying to time interest-rate increases is less important than choosing companies with a good margin of safety that you can hold through thick and thin, says Morningstar's Josh Peters.
Rising interest rates can be a valuation headwind for the REIT sector, but some REITs are better positioned than others, says Morningstar's Todd Lukasik.