$BX is proving that scale can still drive growth! Q2 highlights include: 👉Distributable earnings +26% 👉Fee-related earnings +22% 👉AUM +11% 👉Data-center platform: $185B 👉Perpetual capital: $555B+ Private-credit concerns remain, but $BX's diversification, fundraising power, and AI-infrastructure exposure strengthen the long-term thesis. At ~20x forward earnings with a 4%+ forward yield, $BX still looks attractive (not deep value) but a high-quality compounder at a fair price. #Blackstone #AI #Investing

$REXR is selling buildings to buy itself, but could it eventually become the one being bought? A modest guidance raise, $1.75B in planned dispositions, and a new $1B buyback sharpen the story. With a scarce SoCal industrial portfolio and muted organic growth, $REXR could increasingly screen as an M&A target.

Bargain! 8.1x (normal is 13.7x). 12% consensus growth in 2027. Nice entry at $21 ... more room to run!

$PLD continues to execute. ✅ Raised Core FFO guidance (again) ✅ Raised occupancy guidance (again) ✅ Raised Cash SSNOI guidance (again) ✅ $2.0B in pre-leased data center starts YTD ✅ Power pipeline expanded to 5.8 GW The market still views $PLD as a warehouse REIT. Increasingly, it's becoming a mission-critical infrastructure platform at the intersection of logistics, power, and AI. That's exactly why I classify it as a HALO investment: Heavy Assets. Low Obsolescence. $PLD #REITs #AI #Infrastructure

$VICI is trading near multi-year valuation lows despite strong fundamentals. Today I'll be sitting down with CEO Ed Pitoniak on the Wide Moat Show to discuss: ✅ Fertitta's Caesars acquisition ✅ Potential MGM ownership changes ✅ Las Vegas real estate ✅ Share buybacks ✅ Club Med and experiential real estate expansion What would you ask him if you had the opportunity?

Starlink is not the "Netflix" of cell towers! In fact, it may make tower REITs MORE valuable. Why? 1. Satellites solve the coverage problem. Cell towers solve the capacity problem. Those are not the same thing. 2. Starlink can connect a ranch in Montana, a cargo ship in the Pacific, or a remote village in Africa, but it can't efficiently handle 100,000 fans leaving an NFL stadium all uploading videos at once. Towers still win on density. 3. The dirty little secret? Satellites wear out. Starlink satellites typically last 4-6 years and must be continuously replaced, while a tower can generate rental income for decades. 4. While investors fear disruption, tower REITs like $AMT continue collecting rent from investment-grade tenants under long-term contracts...that's a moat. 5. The future isn't towers vs. satellites, it's towers + satellites + fiber + data centers. The companies owning critical digital infrastructure will continue to win. 6. That's why I remain bullish on $AMT, trading at ~16x vs. a historical multiple of ~22x with a 4% dividend yield. Mission-critical assets. Wide Moat. Happy SWAN Investing.