There’s a lot to get to today – to the point where I’m absolutely certain I won’t be able to fit it all in. Yet I’m still going to take a second to mention that Amazon (AMZN) gained more than $150, or 5.41%, by the closing bell.

That took it up to $2,936.35, and it could go up, even more, today judging by the futures as of 6:41 a.m. Investors are clearly eager to participate in its announced 1:20 stock split – especially in the face of so much “other” information.

And by “other,” I of course mean disconcerting. Even exhausting.

For instance, on CNBC’s “Closing Bell” yesterday, Treasury Secretary Janet Yellen had this to say:

So I think there’s a lot of uncertainty that is related to what’s going on with Russia and Ukraine, and I do think that it’s exacerbating inflation. I don’t want to make a prediction exactly as to what’s going to happen in the second half of the year.

But…

We’re likely to see another year in which 12-month inflation numbers remain very uncomfortably high.

Supply chain issues are likely to continue as well, including with semiconductor chip shortages. Micron Technology CEO Sanjay Mehrotra told Fox Business that while some of that situation “will continue to improve” through 2022”…

“Parts of this will continue into 2023 as well.” He cited the automobile industry as being particularly impacted since its products are “becoming like data centers on wheels.”

Sure enough, we learned this morning that Toyota (TM) will be slashing domestic production by around 20% next month. May’s numbers will then be down about 10% from its original plan and June’s by 5%.

Considering how reliant we are on Russian and Ukrainian resources for our ultimate technological products, that’s probably not going to get any better any time soon.

More Non-REIT News You Need to Know

There are reports that the U.S., G7, and E.U. leaders will announce further actions against Russia. Biden is supposed to address it today, specifically repealing that country’s Permanent Normal Trade Relations… on top of already banning its oil, natural gas, and coal imports.

Even as-is, the World Bank says Russia is about to default on its foreign debts. And the International Monetary Fund adds that “deep recession” is looming as well.

But the traditional Western World is hardly in the clear either. Consider this Fortune headline: “Goldman Sachs Warns Russia’s War on Ukraine Could Plunge U.S. and Europe Into Recession.”

It reads:

Inflation is at a 40-year high. Energy prices are soaring. And now Wall Street is uttering the dreaded S-word – stagflation – or slowing economic growth amid a surge in prices. These macro headwinds are adding volatility to the global markets.

In successive client notes on Thursday, Goldman Sachs downgraded its growth outlook for the United States and for the European Union. Goldman analysts had particularly dire words for the latter.

They now expect 2.5% growth for the euro area, down from 3.9%; and 1.75% for the U.S., down 25 basis points. Moreover, Goldman Chief Economist Jan Jatzius warns there’s a 20%-35% chance of the U.S. entering a recession “during the next year.”

On the plus side, to quote Javier E. David from The Morning Brief, “To paraphrase Jay-Z… The market has 99 problems, but Covid-19 doesn’t seem to be one.” Not when there are so many other things to be concerned about, he adds, which is true.

When was the last time you saw a “main page” business headline about the pandemic?

The World According to REITs

So there’s that. And there’s also this: Russia has expressed optimism about continuing talks with Ukraine.

One way or the other though, I’m not veering off my investment strategy – the one that involves buying quality real estate investment trust (REIT) and other companies at fair or reduced price points.

This isn’t a fair-weather approach. It’s not one to abandon when the proverbial winds shift and the storms start coming on.

It’s made to last. It’s made to withstand. Which is why I’m moving right on with business as usual by addressing the three “laggard” earnings reports below:

• Cedar Realty Trust (CDR) recorded Q4 funds from operations (FFO) of $0.57 per share. It collected 96.7% of base rents and monthly charges during the quarter and 96.5% during the year. Meanwhile, its same-property portfolio ended the year 91.8% leased. That’s up slightly from both Q3’s 91.4% and 2020’s final count of 91%. Also, same-property net operating income (NOI) rose 2.8% in Q4 and 3.4% for the full year.
• One Liberty Properties (OLP) saw Q4 FFO of $0.46 per share and 99.2% occupancy. It had $16.2 million in cash and cash equivalents, and total debt of $407.8 million. The REIT also reported that, as of March 4, 2022, its available liquidity was $97.9 million.
• Postal Realty Trust (PSTL) announced Q4 FFO of $0.24 per share. The REIT purchased 55 properties for around $42.8 million minus closing costs for the quarter – a figure that increased to 239 for $118 million in all of 2021. Rental income rose 39% year-over-year between October and December, and 64% between 2020 and 2021. And its 966 total properties were 99.6% occupied.

Oh, and do you remember me pointing out earlier this week how you never know when there’s going to be a larger list of REIT updates?

You know what to do!

(Click on image to enlarge)

(Source: The Daily REITBeat)