Entries by Creede Murphy

Imperial Government

As real estate securities analysts, most of the things we do have some basis in being knowable. For example, we analyze business plans, visit assets, build models, talk to tenants and reach conclusions about a company’s portfolio, prospects, management and stock valuation. While none of this is completely knowable, it’s partly knowable. In the last […]

A Tale of Two Stocks

A tale of two stocks and a tale of two investors that, we believe, demonstrate the sometimes illogical nature of perceptions and how those perceptions can drive valuation. The stocks are BioMed Realty Trust (BMR) and Alexandria Real Estate Equities (ARE). They are the only two public companies currently focused on ownership of lab/life science space […]

Burl East on a Special Edition of STA Money Hour

Burl East, CFA, Chief Executive Officer of American Assets Capital Advisers, was interviewed on a special edition of STA Money Hour by Michael Smith and Luke Patterson. Mr. East talks about the current outlook on real estate in general and where AACA sees value and risks. Mr. East also talks about his current “long-short” real estate securities fund […]

Burl East Interviewed on Benzinga

Burl East, CFA, Chief Executive Officer of American Assets Capital Advisers, was interviewed by Tim Melvin of Benzinga. Mr. East talks about his current outlook on real estate and AACA’s unique investment strategy.   Click here to read the interview

Buy the (P/NAV) Dip

Net asset value (“NAV”) is one of the core valuation metrics for real estate investment trusts (“REITs”). The metric aims to determine the inherent value of a REIT by assigning approximate liquidation values to the underlying real estate. To do so, investors must derive a series of go forward expectations such as net operating income […]

Burl East on a Special Edition of STA Money Hour

Burl East, CFA, Chief Executive Officer of American Assets Capital Advisers, was interviewed on a special edition of STA Money Hour by Michael Smith and Luke Patterson. Mr. East talks about the current outlook on real estate in general and where AACA sees value and risks. Mr. East also talks about his current “long-short” real estate securities fund […]

White Papers: Portfolio Management

A look at how REIT exposure may enhance risk adjusted portfolio returns. Over the years we have had countless conversations with investors regarding their exposure to public real estate, primarily if, and how much to allocate. The purpose of this whitepaper is to frame the question within the rigor of the Markowitz Mean Variance Efficiency […]

Press Release: Ernest Rady Commits $100 Million to Benefit the Rady School of Management at UC San Diego

Ernest Rady, co-owner and co-founder of AACA, announced that the Rady Family Foundation has made a $100 million commitment to UC San Diego’s Rady School of Management.  Ernest and the Rady Family Foundation also gave $30 million to help establish the school in 2004 and gave an additional $5 million towards the school’s campus expansion. Download Press […]