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Frequent Contributor

T-REA Fact Sheet, 6/30/20

https://www.sec.gov/Archives/edgar/data/946155/000162828020010586/ex991realestatefactsheet.htm

In Market Recap, take a note of last 2 paragraphs - cannot copy-and-paste.

                                                            6/30/20     3/31/20     12/31/19     9/30/19     6/30/19

RE Properties (Net)                                59.2%       55.1%         48.6%         49.8%        51.2%

RE JV + LP                                             26.3%       25.3%         27.5%         26.5%        25.9%

Marketable Securities (Other)                 5.7%         5.2%         15.2%         15.6%        15.7%

Loans Receivable                                     6.3%         6.1%            5.6%          4.7%         4.1%

Marketable Securities (REITs)                 3.5%         2.8%            3.0%          3.2%         3.2%

Other                                                       -1.0%         5.5%            0.1%          0.2%        -0.1%

Net Assets                                           24.2B        26.0B          27.3B       27.0B        26.7B

YBB
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3 Replies
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Participant ○

Re: T-REA Fact Sheet, 6/30/20

Thanks, Yogi.  The referenced paragraphs say that RE market conditions are expected to continue to deteriorate over the near term.  The deterioration has been mild so far for TREA.  YTD TREA is down only 1.33%.  

It seems that TREA has even taken advantage of the drop in REIT prices.  The percentage of assets in REITs is up even though REIT prices have fallen much more than TREA's AUV.

My guess is that TREA will have done better than CREF Stock by the revaluation date for annuities on March 31.  Of course, that is mostly a guess that Stock will not do so well over the next eight months.

John 

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Explorer ○○○

Re: T-REA Fact Sheet, 6/30/20

Hi,

Reuters article from yesterday, Who still needs the office? ...

https://www.reuters.com/article/us-usa-results-realestate/who-still-needs-the-office-u-s-companies-s...

This is one of the concerns of TREA as I see it.

S

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Frequent Contributor

Re: T-REA Fact Sheet, 6/30/20

@jjustice , while mentioning that CRE index was down 10% in Q2, and some areas such as malls and lodging were down 25%, the impact on T-REA isn't explained. Was it brilliant management that avoided the hit, or property valuation lag will cause a hit later?

Another question may be about new property purchases in Q1 and Q2.

YBB
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