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Latest
Valuentum Commentary
Apr 4, 2025
Trump Tariffs Higher than Expected; What We're Doing
The Trump tariff increases came in larger than what we were expecting, and it remains to be seen how they will flow through the global economy, as we monitor potential retaliatory tariffs from other countries. As it relates to the equity markets, we’re taking a wait and see approach at the moment as we monitor new policy changes related to trade, immigration, fiscal (tax), and regulations. In short, we’re not overreacting to the sell off as we won’t have a great handle on the tariff impact to companies for a few quarters when they report results post-tariff increases. That said, we’re expecting continued market volatility, with meaningful risk to the downside, before trade uncertainty alleviates in the coming months. Mar 17, 2025
Realty Income Has Raised Its Dividend 130 Times Since Listing on the NYSE in 1994
Image Source: Realty Income. In March 2025, Realty Income announced its 130th dividend increase since it listed on the NYSE in 1994. The annualized dividend amount now stands at $3.222 per share compared to the prior annualized dividend amount of $3.216 per share. Looking to 2025, Realty Income’s net income per share is expected between $1.52-$1.58, AFFO per share is targeted at $4.22-$4.28, while same store rent growth is expected to be approximately 1% on occupancy over 98%. As of December 31, 2024, the REIT had $3.7 billion of liquidity. We like Realty Income but don’t include shares of the REIT in any newsletter portfolio. Shares yield 5.7% at the time of this writing. Mar 14, 2025
Dividend Increases/Decreases for the Week of March 14
Let's take a look at firms raising/lowering their dividends this week. Feb 21, 2025
Dividend Increases/Decreases for the Week of February 21
Let's take a look at firms raising/lowering their dividends this week. Dec 13, 2024
Dividend Increases/Decreases for the Week of December 13
Let's take a look at firms raising/lowering their dividends this week. Nov 6, 2024
Realty Income’s AFFO Covers Dividends Paid in Third Quarter
Image: Realty Income’s shares have seen better days. Realty Income reported mixed third quarter results November 4 with revenue exceeding the consensus forecast but funds from operations coming up short. Revenue advanced 28.1% in the quarter on a year-over-year basis, with same store rental revenue up modestly (0.2%). However, net income per share and FFO per share fell to $0.30 and $0.98, respectively, from $0.33 and $1.04 in the same period a year ago. Adjusted funds from operations (AFFO) came in at $1.05 per share in the period, up from $1.02 in last year’s quarter, and comfortably higher than dividends paid per share of $0.789 over the same time. Our fair value estimate for Realty Income stands at $61 per share. Sep 26, 2024
An Important Measure of Leverage for Dividend-Growth and Income-Oriented Shareholders, One That Is Dividend-Adjusted
As more and more investors rely on company dividends for income, dividends, in our view, have become more debt-like commitments in nature, especially from the perspective of dividend-growth or income-oriented shareholders. Years ago, we rolled out a measure of financial leverage that considers both the company’s debt and the present value of its future expected cash dividend obligations, which, in the eyes of die-hard dividend-growth or income-oriented shareholders, may be implicitly assumed to be debt-like commitments in substance. We think this leverage ratio can be used in conjunction with the Dividend Cushion ratio to gain additional insight into the dividend-paying financial health of an entity. Sep 13, 2024
Dividend Increases/Decreases for the Week of September 13
Let's take a look at firms raising/lowering their dividends this week. Aug 9, 2024
Paper: Value and Momentum Within Stocks, Too
Abstract: This paper strives to advance the field of finance in four ways: 1) it extends the theory of the “The Arithmetic of Active Management” to the investor level; 2) it addresses certain data problems of factor-based methods, namely with respect to value and book-to-market ratios, while introducing price-to-fair-value ratios in a factor-based approach; 3) it may lay the foundation for academic literature regarding the Valuentum, the value-timing, and ultra-momentum factors; and 4) it walks through the potential relative outperformance that may be harvested at the intersection of relevant, unique and compensated factors within individual stocks. Jul 3, 2024
High Yield Dividend Income Investing Is Not as Easy as Chasing the Highest Yield
Image: EpicTop10.com. The skills to successfully invest for long-term capital gains or long-term dividend growth are much different than those required for generating high yield dividend income. Income investing is a much different proposition. However, the skills do center on a similar equity evaluation process, but one that requires an acknowledgement and heightened awareness of considerably greater downside risks. Income investing, or high yield dividend income investing, should at times be considered among the riskiest forms of investing, as many high dividend-yielding securities tend to trade closer to the characteristics of junk-rated bonds than they do most net cash rich and free cash flow generating powerhouses that we like so much in the Best Ideas Newsletter portfolio and Dividend Growth Newsletter portfolio. Latest News and Media The High Yield Dividend Newsletter, Best Ideas
Newsletter, Dividend Growth Newsletter, Nelson Exclusive publication, and any reports, articles and content found on
this website are for information purposes only and should not be considered a solicitation to buy or sell any
security. The sources of the data used on this website are believed by Valuentum to be reliable, but the data’s
accuracy, completeness or interpretation cannot be guaranteed. Valuentum is not responsible for any errors or
omissions or for results obtained from the use of its newsletters, reports, commentary, or publications and accepts
no liability for how readers may choose to utilize the content. Valuentum is not a money manager, is not a
registered investment advisor and does not offer brokerage or investment banking services. Valuentum, its employees,
and affiliates may have long, short or derivative positions in the stock or stocks mentioned on this site.
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