Below is a chart and brief excerpt from today's Early Look written by Hedgeye analyst Rob Simone.
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Fast-forward to now. We want to again take another look at our positioning, vis-à-vis where we have been and where we are likely going from here. We have been long Apartments (AVB, EQR), Industrial (PLD, REXR), Triple-Net (O, NNN, and to some extent RADI) and one Gateway Office name (PGRE). At the same time, we have recommended shorting commodity-linked industrial (COLD), self-storage (UHAL) and Timber (WY). Not too bad as can be seen below, with the exception of Industrial which has been offsides. That could be changing, however… |
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