Author Topic: GRIF - Griffin Industrial Realty  (Read 43618 times)

BG2008

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Re: GRIF - Griffin Industrial Realty
« Reply #220 on: June 26, 2020, 09:25:53 AM »
At least so far industrial assets are proving to be a relative safe haven.  Given movement in interest rates and a need to put cash to work, quite frankly, this could go much higher assuming that safe haven status of industrial holds up.   

If this highly favorable dynamic does indeed progress, I personally would like to see a total sale vs. attempting to become a growth REIT - the risk/reward of a clean sale would dominate the attempt to "bulk up" via acquisition/development in an already hot market, IMO.   

I think you are potentially missing the point of the potential accretion from low WACC from growing this REIT assuming this trades at a decent premium to the NAV.  From a capital allocation perspective, I think it is best to take some chips off the table as it trades closer to NAV and leave a portion to see if the  WACC story plays out.  This assumes that you have a decent size position to begin with.  If you have a small position, there is probably no harm in leaving it intact and see if Michael and Gordon can double, triple, or quadruple this one.  One thing about RE investing is that long term trends are very powerful.  If the future is warehouses and e-commerce, that's likely a 10-20 year tailwind.  I under appreciated this dynamic when I was younger.  Look at how obvious shorting retail is in hindsight.   Yes, it's hindsight.  But I was suspicious even back in 2012,2013.  I think if Blackstone sells, that would probably be a moment for us as well. 


BG2008

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Re: GRIF - Griffin Industrial Realty
« Reply #221 on: June 26, 2020, 01:05:45 PM »
Is anyone else seeing the 174,131 shares traded today? I hope this is Gabelli selling out of their position.  Something like 15% of the float traded today.  There was a time when they showed a lot of volume, but it was actually mistaken.

Gregmal

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Re: GRIF - Griffin Industrial Realty
« Reply #222 on: June 26, 2020, 01:15:21 PM »
You are wrong. I have 182k lol

BG2008

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Re: GRIF - Griffin Industrial Realty
« Reply #223 on: June 26, 2020, 01:22:28 PM »
Today was an interesting day. All time high before the selloff.  Normal volume and then a spike at end of day.  The Russel rebalance was only suppose to increase weighting by 1%.  It is a strange indeed. 

BG2008

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Re: GRIF - Griffin Industrial Realty
« Reply #224 on: July 01, 2020, 12:44:33 PM »
I think GRIF is currently experiencing the Brisket Stall phenomenon.  It is in an area where it is a little below NAV.  Hopefully, this is a small stall and maybe we can use a Texas Crutch technique to get it over the stall. 

https://goshindig.com/brisket-stall/
https://goshindig.com/wp-content/uploads/2019/07/the-brisket-stall-graph.jpg

It has been a fun month, y'all!