Recent Buys (STAG, PEB)

21 May 2016 23:04

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May has been a quiet month for me for both blogging and stock buys but that changed with some price reduction thanks to interest fears. Last week I grabbed 350 shares of Stag Industrial (STAG) at $20.60 and 100 shares of Pebblebrook Hotel Trust (PEB) at $24.

Both REITS have been knocking it out of the park with AFFO growth but for some odd reason their efforts have not been rewarded in share price so I was more than happy to grab these at deflated prices. STAG was down 3% from recent price of $21.40 and PEB was down 7.6% from its recent price of $26 per share.

Of course both of these holdings are REITS and this does make me overweight in the sector but this is only temporary. My HCP holding announced they will spin-off their problem child HCR ManorCare portfolio. While this is good for HCP corporate the last thing I want as a shareholder is to hold stock in the divested problem child so to avoid the issue (as well as tax complications) I plan on selling HCP in the near future which will bring my REIT weighting back to a 10% level.

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