Elections are almost behind us but COVID shutdowns are here once again. We’ll see how markets react over the next few months but with fresh cash in my pocket I had a little to invest Here is a summary of what I bought or sold this week:
- Weyerhaeuser (WY) – sold position – Dividend was restored to 50% of what it was previously. I expected this but also anticipated special dividends on top of that and I was right as WY management announced they would begin special dividend payments. What I did not expect was they announced it would not start until Q1 2022. Was not happy with managements decision and dividend payouts seem to be low priority. In that light I decided to sell.
- Medical Properties Trust (MPW) – increased position – MPW quarterly numbers finally showing decent FFO growth once more. Its been almost 3 years since I last bought shares in this REIT.
- W.P. Carey (WPC) – increased position – Using the proceeds from my WY sale I added more shares of WPC. WPC has been a solid REIT for me over the years and it was a no brainer choosing this over WY.
- Hasbro (HAS) – increased position – I was very impressed with HAS’s quarterly report and earnings growth considering their entertainment division dragged it down due to COVID. This will be an interesting play once they start releasing more film and TV content.
- Kimball International (KBAL) – increased position – I continue to slowly build this position grabbing a few shares each time it drops below $11/share.
- BCE Inc. (BCE) – increased position – Share price dropped to near $40/share and picked up a few shares with a nice 6.2% yield.
- Oil-Dri Corp. of America (ODC) – new position – Price dropped low enough to catch my eye and it does not get much more boring than a company that makes cat litter. ODC has grown their dividend for 18 years, has a P/E just under 13, a debt to equity ratio of 7% and pays a 3.2% yield. Only issue with this stock is that it is a microcap that is thinly traded.