been digging into the half year numbers and the portfolio yield is sitting around 6.8% which is decent for…by @thuli_dd on $SRE

been digging into the half year numbers and the portfolio yield is sitting around 6.8% which is decent for a european industrial play, but what's caught my eye is the loan to value creeping up to 47%. that's still within their covenant range but they're going to need rents or asset sales to hold steady if rates stay elevated. comparing to similar european reits they're trading at a discount which either means opportunity or the market knows something about their tenant base, mostly mid-market logistics operators. longer term if europe's supply chain doesn't completely collapse the assets shoul