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    Rich Anderson

    Managing Director and Senior Equity Research Analyst at Wedbush Securities

    Rich Anderson is a Managing Director and Senior Equity Research Analyst at Wedbush Securities, specializing in U.S. real estate investment trusts (REITs) with coverage of numerous major real estate companies. Since joining Wedbush in 2023, Anderson has maintained a 53.4% success rate and an average return of 3.35% on his investment recommendations, ranking as a 3.48-star analyst on independent platforms. Previously, he held research roles at leading firms such as Mizuho Securities USA, and holds both a bachelor's in Aerospace Engineering from the University of Maryland and an MBA in Finance from Monmouth University. Anderson is based in New York and maintains professional securities licenses in accordance with industry regulatory standards.

    Rich Anderson's questions to STAG Industrial (STAG) leadership

    Rich Anderson's questions to STAG Industrial (STAG) leadership • Q1 2025

    Question

    Rich Anderson explored the relationship between the high Q1 retention rate and the rapid pace of early leasing, and asked if STAG is tracking new tenant origins as evidence of nearshoring trends.

    Answer

    CFO Matts Pinard and CEO William Crooker confirmed the high 85% Q1 retention is linked to completing a large volume of renewals early, and they expect the rate to normalize toward the 70-75% full-year guidance. On nearshoring, Pinard stated that while hard data is limited, diversifying supply chains is a clear driver of demand. He cited a new 7-year lease with a 3PL in Savannah as a direct result of this trend, which they believe will be a net benefit for their portfolio.

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    Rich Anderson's questions to STAG Industrial (STAG) leadership • Q3 2024

    Question

    Rich Anderson asked for the bull and bear case scenarios for the American Tire bankruptcy and questioned how quickly the acquisition pipeline reacts to macroeconomic changes like interest rate hikes.

    Answer

    CEO William Crooker stated that American Tire's leases are at market rates and the facilities are actively utilized, but he declined to speculate on the bankruptcy's outcome. Regarding the acquisition pipeline, he described it as dynamic, noting that STAG immediately adjusts its return requirements to its cost of capital, which allows it to continue finding opportunities even in a rising rate environment.

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    Rich Anderson's questions to CENTERSPACE (CSR) leadership

    Rich Anderson's questions to CENTERSPACE (CSR) leadership • Q4 2024

    Question

    Rich Anderson of Wedbush Securities asked if the timeline to rebalance the portfolio would be extended due to market conditions, whether the company would accept FFO dilution for AFFO-neutral deals, and for the current size of the acquisition pipeline.

    Answer

    CEO Anne Olson confirmed the portfolio rebalancing timeline would likely be longer due to low transaction volume but stressed the company's readiness to act. She affirmed they would consider slightly FFO-dilutive deals if they are cash-flow neutral and offer superior growth. She estimated the current pipeline of interesting deals at around $0.5 billion, a significant decrease. SVP Grant Campbell added that reduced interest rate volatility is needed to spur market activity.

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    Rich Anderson's questions to APARTMENT INVESTMENT & MANAGEMENT (AIV) leadership

    Rich Anderson's questions to APARTMENT INVESTMENT & MANAGEMENT (AIV) leadership • Q3 2020

    Question

    Rich Anderson of SMBC asked for the rationale behind Aimco's strategic shift from a complex, diversified model to a simplified one, and questioned if this could put the company a step behind on development opportunities post-recession.

    Answer

    Chairman and CEO Terry Considine explained that the public markets increasingly favor the predictable FFO of a simple business over the NAV-creation of more complex ventures. He stated the separation allows the market to value each business type appropriately and expressed confidence in the long-term demand for the stable, cash-dividend business that will become AIR.

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    Rich Anderson's questions to APARTMENT INVESTMENT & MANAGEMENT (AIV) leadership • Q2 2020

    Question

    Rich Anderson of SMBC asked if Aimco is observing an urban-to-suburban shift within its portfolio and if it is proactively managing these transfers. He also questioned whether management views Q2 as a definitive trough, given the shifting geographic nature of the pandemic.

    Answer

    EVP Keith Kimmel confirmed they facilitate resident moves between properties via their 'coast-to-coast' program and are proactively contacting residents to meet their needs. Regarding a market trough, Kimmel noted that while some areas are improving, the situation remains dynamic and they expect 'choppy water ahead.' Chairman and CEO Terry Considine added that local government regulations are a key variable creating disparate outcomes even in nearby markets.

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