Acquisition StrategyThe company aims to acquire properties at yields above their cost of capital targeting properties in the $10 – $50 million range which are not typically pursued by institutions or larger REITs.
Financial PerformanceThe company reported FFO numbers of $0.44, which represents a ~19% increase year-over-year, and its two cents higher than consensus estimates and four cents higher than analyst estimates.
Stock ValuationThe company shares are trading relatively attractive compared to the other triple net lease REITs with one of the lowest multiple at 9.7x versus 12.5x for the group.