O Family Dollar/DollarTree today announced that they will close 600 of their 8k+ stores this year, and another 400 over the coming years, as leases expire.
O owns more than 1,200 Family Dollar/DollarTree stores. Losing a NNN tenant usually reduces a retail property's value by at least 75%. But, hey, no worries! The dividend is increasing, amiright?!
OSRC combination brings to mind Jack Welch, the legendary former GE CEO, who once commented on a similar business combination that "you can't build a race car from the parts of two wheelchairs".
O Total clients have increased each year since 2020. Total leased space increased from 998.1 million sq ft in 2020 -> 1.02 Billion square feet. Occupancy rate increased from 99% to 99.2%. Long term history of growth, just zoom out. We aren’t worried about short term volatility in this stock.