via Jim Cramer, Fast Money
By BRUCE KAMICH Follow | APR 12, 2016 | 11:39 AM EDT |
Stock quotes in this article: LOW
Bill Levy Santa Barbara
IGF Partners LLC, Sr. Advisor
(800) 969-9584 x205
The “Next Generation” Single-Tenant, Triple-Net-leased Real Estate
VEREIT’s business plan, released last August, proposes to cut between $1.8 billion and $2.2 billion of worth of assets from its portfolio by the end of the year. The REIT has already made significant headway toward that goal, completing dispositions valued at $1.4 billion as of last Dec. 31.
“We don’t see a market pushback to our strategy,” said Glenn Rufrano, VEREIT’s CEO. Since the beginning of the year, REITs have slipped 4 percent to 5 percent on the RMZ and RMS indices, but the net lease sector (in which VEREIT participates) is up 5 percent. “As people look to invest, they’re gravitating towards safety, and the public markets indicate that’s net lease,” Rufrano asserted.
Bill Levy, Santa Barbara
IGF Partners, LLC, Senior Advisor