Agree Realty's fortress balance sheet and high-quality tenants remain competitive advantages even as acquisitions slow. Q3 acquisitions were $309 million at a 7.3% cap rate, with about $2 billion in liquidity and 3.9x net debt/EBITDA. AFFO guidance rose to a $4.585 midpoint, but investment guidance fell to about $1.6 billion and an analyst cut the price target from $84 to $74. Capital-allocation quality matters alongside cost of capital. x.com 

Essential Properties' disciplined underwriting is delivering steady growth amid a changing cost-of-capital environment without stretching for growth. Q3 AFFO per share rose 6% year over year to $0.51, rental revenue of $157.8 million beat estimates, and 2027 AFFO guidance debuted at $2.10-$2.18. Strong margins and deal flow were expected ahead of earnings; it remains one of the best net-lease REITs to own. x.com  x.com 

Realty Income's 20%+ correction is among the most attractive long-term opportunities in the market, since such drops in a blue-chip dividend REIT typically do not last. The business keeps performing, with AFFO per share up 3.8% year over year and 136 monthly dividend increases since its NYSE listing. The stock sits about 10% below its 200-week moving average with a historically oversold daily RSI. x.com 

Some AI data-center developers may have to absorb higher financing costs because existing leases have fixed economics and tenants need not pay more. That could reduce equity returns even as compute demand grows. Scarce deliverable power, strong counterparties and favorable financing could instead make the best developers more valuable as marginal projects stall. Vertically integrated infrastructure landowners such as Cipher look attractive; today's prices may be the worst of the selloff. x.com  … Show more

Digital Realty's core retail colocation business is a terrible one. It relies on short three- to five-year leases with enterprise customers such as banks, is operationally intensive with heavy customer churn, and runs a roughly two-decade-old portfolio built for air cooling and low rack densities. x.com 

Realty Income offers exposure to real estate, monthly income and long-term appreciation without having to become a landlord. x.com 

Real estate stocks suffer badly as interest rates rise, and the sector needs help or its 50-day moving average will be taken out. Welltower, the sector's largest name, is starting to struggle to sustain its parabolic move. x.com 

Digital Realty and Equinix face painful refinancing: the main credit they deserve over the past decade is for how much debt they piled up when rates were near zero, and rolling over their 2020–2021 issuance will not be pretty. x.com 

Realty Income's lower cost of capital could make a VICI acquisition accretive while diversifying its tenants. A hypothetical $27.50-per-share offer models 5.3% AFFO-per-share accretion; a $30 offer is also considered realistic. VICI's low payout ratio and higher rent escalators could benefit Realty Income. This is a merger model, not a prediction of a deal. x.com  x.com  x.com 

Cipher's extra Barber Lake spend should earn a double-digit unlevered yield on current estimates. The convertible pays for overruns shared with the tenant; capex has reached $14M/MW amid labor and supply-chain inflation. The stock should not rise on the financing news, but will be much higher once the site is leased. Book value is historical cost and does not capture contracted lease cash flows, so 9x book cannot tell whether the stock is expensive. x.com  x.com  x.com  x.com  x.com  x.com  x.com