Independent research on capital structure, debt, dilution, financing, refinancing, credit and payout mechanics.
Analysis by Jeong-Mo Goo. Benzinga contributor.
No stock ratings. No price targets. No personalized investment advice.
A lower exchangeable-note coupon sits inside a wider financing mix of equity settlements, revolver borrowings and a concurrent share repurchase. The next check is post-transaction Core FFO per share.
Read on BenzingaRead the method, inspect published working papers and contact the author about sources, corrections or research use.
Enter the Research DeskField guides to business models, cash flow and financing. REITs and BDCs remain core areas of the published research.
Property types, lease structures and the route from FFO to AFFO.
BDC lending, payment-in-kind income and non-accrual loans.
Working capital, reinvestment and the cash left after capex.
Networks, spectrum and the funding behind the dividend.
MAA and W. P. Carey, read on each issuer's own adjusted measure. The conclusion comes with the working papers behind it.