New book Boss Lincoln takes a fresh look at a well-studied political figure, showing him to be a master of party politics Some historians are wary of discussing their work in light of modern events, comparing subjects to current political players. Not Matthew Pinsker of Dickinson College, the author of both a major new book, Boss Lincoln: The Partisan Life of Abraham Lincoln , and the Substack Wha...
New book Boss Lincoln takes a fresh look at a well-studied political figure, showing him to be a master of party politics Some historians are wary of discussing their work in light of modern events, comparing subjects to current political players. Not Matthew Pinsker of Dickinson College, the author of both a major new book, Boss Lincoln: The Partisan Life of Abraham Lincoln , and the Substack What Would Lincoln Do? . “I’m not running away from it, that’s for sure,” Pinsker said from Carlisle, Pennsylvania. Continue reading...
Blackstone-backed Bagmane Prime Office REIT is preparing to launch an initial public offering as soon as next month, seeking a valuation of about $3.9 billion, according to people familiar with the matter. The Bengaluru-based real estate developer has secured regulatory approval and begun investor roadshows, the people said, asking not to be identified because the information is private. The propo...
Blackstone-backed Bagmane Prime Office REIT is preparing to launch an initial public offering as soon as next month, seeking a valuation of about $3.9 billion, according to people familiar with the matter. The Bengaluru-based real estate developer has secured regulatory approval and begun investor roadshows, the people said, asking not to be identified because the information is private. The proposed offering will aim to raise 40 billion rupees ($440 million), including as much as 30 billion rupees of newly issued units and a secondary sale of 10 billion rupees by Blackstone, according to the IPO prospectus filed in December. Discussions are ongoing and details such as the size and timing of the share sale could change, the people said. A spokesperson for Bagmane REIT didn’t respond to a request for comment. India’s market for first-time share sales is off to a subdued start in 2026, following two consecutive years of record fundraising. The nation’s stocks have been pressured by slowing earnings growth, global trade uncertainty and uneven foreign inflows. But real estate developers are increasingly turning to capital markets to raise funds, signaling their confidence that the shift of millions of people toward cities will ensure robust demand. Read More: Urban Migration in India Sets Stage for Record Property IPO Year India has seven registered REITs, of which Knowledge Realty Trust, Mindspace Business Parks REIT, Brookfield India Real Estate Trust, Embassy Office Parks REIT and Nexus Select Trust are listed. As of June 30, 2025, Bagmane’s portfolio comprised six Grade A+ business parks totaling 20.3 million square feet, including 19.6 million square feet of leasable area, the filing shows. The REIT reported a gross asset value of 387.9 billion rupees. According to the prospectus, net proceeds from the fresh issue will primarily be used for asset acquisitions and general corporate purposes. Kotak Mahindra Capital Co., Axis Bank Ltd., JM Financial Ltd., IIFL Capital...
Juanmonino/iStock Unreleased via Getty Images It looks like United Parcel Service ( UPS ) recently survived a dividend scare. Before its recent earnings report on January 27, I'm sure many people were concerned that a dividend cut would come because the dividend payouts were higher than the company's free cash flow. But that cut never came. Now, UPS's own free cash flow estimate for the full year ...
Juanmonino/iStock Unreleased via Getty Images It looks like United Parcel Service ( UPS ) recently survived a dividend scare. Before its recent earnings report on January 27, I'm sure many people were concerned that a dividend cut would come because the dividend payouts were higher than the company's free cash flow. But that cut never came. Now, UPS's own free cash flow estimate for the full year suggests that the dividend is covered, so the company may be out of the woods if it can execute. If so, does that mean you should buy the stock now while it's still yielding a pretty decent 5.6%? UPS bulls aren't going to like my answer, but to me, the answer is "No." The company is undergoing a turnaround that can make it stronger in the longer term. However, at the end of the day, turnarounds carry execution risk, and I also believe the valuation isn't attractive, with low dividend growth ahead because the forward FCF payout ratio is already high. I prefer to stay on the sidelines with this stock, and it's not a clear short, so I'm giving it a Hold rating. UPS Is Out Of The Woods For Now In 2025, free cash flow started trending lower, with TTM FCF hitting a low of $3.54 billion in Q2 2025. Then, FCF starting rebounding, and it finished at $4.765 billion for the full year. Still, that was lower than the $5.4 billion in dividends paid, and that doesn't even include the $1 billion in share repurchases. UPS was returning more money than it was making, and some investors began to think a dividend cut was coming. UPS's 2025 Capital Allocation (Q4-2025 Investor Presentation) Instead, the dividend remained unchanged, at $1.64/share, or $6.56 annualized. Also, based on the company's outlook, which forecasts FCF of ~$6.5 billion this year, the dividend will actually be covered on a forward basis. That gives the company some wiggle room, as it can miss its FCF estimate by $1 billion and still have the dividend covered. UPS's 2026 Guidance (Q4-2025 Investor Presentation) Nonetheless,...