FG Trade/E+ via Getty Images Introduction When the market turns its back on certain REITs or industries, my attention gets drawn in. As a (contrarian) REIT analyst that loves analyzing out-of-favor REITs, I have been covering both Healthpeak Properties ( DOC ) and Alexandria Real Estate ( ARE ). Since ARE is a pure life science REIT and DOC is a healthcare REIT that has a meaningful exposure towar...
FG Trade/E+ via Getty Images Introduction When the market turns its back on certain REITs or industries, my attention gets drawn in. As a (contrarian) REIT analyst that loves analyzing out-of-favor REITs, I have been covering both Healthpeak Properties ( DOC ) and Alexandria Real Estate ( ARE ). Since ARE is a pure life science REIT and DOC is a healthcare REIT that has a meaningful exposure towards the life science sector, my readers wanted me to put the two against each other to see which one is the better pick right now. Let's begin. A sector in recovery mode The life science sector has been struggling with a post-COVID oversupply for the past two years or so. Many investors remember the days back during COVID-19 when Alexandria Real Estate was one of the favorite REITs here on Seeking Alpha. I thought that the dividend yield was too low back then, and thankfully this superficial reason to skip the stock prevented me from making a massive investment mistake. In between 2021 and 2026, ARE dropped from $217 all the way to $40. Because the U.S. life science market is approaching a turning point, according to a research report from CBRE, it is no coincidence that both REITs have seen their share price going up pretty meaningful. The most important data from the CBRE research were the following: Construction is at a 10-year low Capital is re-engaging (and has historically preceded a rise in lab demand) Lab facility investments have reached unprecedented levels But there are also risks worth mentioning. China is expanding its role in global R&D, which will create both opportunities (onshoring) and risks (fierce competition). Because China and the U.S. are each other's adversaries, I think that competition from outside the U.S. will ultimately be beneficial for U.S. landlords in the life science space, because the U.S. will (excluding the current administration perhaps) protect this vital sector against threats from outside. The U.S. population is aging, which makes it ...
Mesut Uzman, Chief Nuclear Construction Officer of Fermi Inc. (NASDAQ:FRMI) , disclosed the sale of 158,541 shares across direct and indirect accounts on June 3, 2026, for a transaction value of approximately $1.0 million according to a SEC Form 4 filing . Transaction and post-transaction values based on SEC Form 4 weighted average reported price ($6.31). Fermi Inc. develops energy and data center...
Mesut Uzman, Chief Nuclear Construction Officer of Fermi Inc. (NASDAQ:FRMI) , disclosed the sale of 158,541 shares across direct and indirect accounts on June 3, 2026, for a transaction value of approximately $1.0 million according to a SEC Form 4 filing . Transaction and post-transaction values based on SEC Form 4 weighted average reported price ($6.31). Fermi Inc. develops energy and data center infrastructure to support the needs of to-be-built AI infrastructure, and operates as a regulated electric utility. Continue reading
spawns/iStock via Getty Images PSCE Overview The Invesco S&P SmallCap Energy ETF ( PSCE ) is a passively managed exchange-traded fund with a NAV of around $ 116MM that invests in small-cap U.S. energy companies across oil and gas. The point of this ETF is to provide cheap, passive exposure to the energy sector within the S&P SmallCap 600 Index. While this is a small fund with limited name recognit...
spawns/iStock via Getty Images PSCE Overview The Invesco S&P SmallCap Energy ETF ( PSCE ) is a passively managed exchange-traded fund with a NAV of around $ 116MM that invests in small-cap U.S. energy companies across oil and gas. The point of this ETF is to provide cheap, passive exposure to the energy sector within the S&P SmallCap 600 Index. While this is a small fund with limited name recognition relative to the likes of XLE or VDE, the current geopolitical environment makes it one of the more interesting energy plays available. While a fragile ongoing U.S.-Iran ceasefire was announced, sending oil prices sharply lower, Israel has continued to attack Lebanon and ongoing skirmishes in the Strait of Hormuz. I think the ceasefire is worth fading for reasons I'll get into below, and PSCE is one of the cleaner ways to express that view without taking on single-name risk. The fund has done a good job this year, and I think the setup remains constructive. Fund Breakdown and Oil Reserves Trends PSCE was launched on April 7, 2010 , by Invesco with a mandate to track the S&P SmallCap 600 Capped Energy Index. The fund simply buys and holds the index constituents rather than making a lot of active calls. The quarterly rebalance includes individual security caps at 22.5% and a 45% aggregate cap on names above 4.5% weight, which adds some reasonable concentration risk management. The fund's expense ratio is 0.29% , which is reasonable for a sector-specific ETF and isn't too bad compared to XLE at 0.08%, though XLE is dominated by ExxonMobil and Chevron and tells you a very different story than PSCE. With only 33 holdings , PSCE is a concentrated fund, and that's fine, because it means you get meaningful exposure to the most active names in the small-cap E&P space, rather than a diluted basket of 100+ companies. One limitation worth noting is the NAV of roughly $116MM and the modest daily volume—this is not a fund for institutional block trades, but for retail investors wantin...
Treasuries fell as investors ramped up bets that the Federal Reserve will need to raise interest rates, while escalating tensions in the Middle East added to inflation concerns. Yields rose about two to five basis points across the curve in Asian trading Monday, with the biggest moves in shorter-dated bonds such as five- and two-year notes, which are more sensitive to changes in Fed policy expecta...
Treasuries fell as investors ramped up bets that the Federal Reserve will need to raise interest rates, while escalating tensions in the Middle East added to inflation concerns. Yields rose about two to five basis points across the curve in Asian trading Monday, with the biggest moves in shorter-dated bonds such as five- and two-year notes, which are more sensitive to changes in Fed policy expectations. Investors are still assessing the strong US jobs report on Friday, which topped all forecasts and reaffirmed the view that the Fed, under Chairman Kevin Warsh , will need to raise borrowing costs to contain inflation that is running above target. Meanwhile, fresh Israeli strikes on Iran have pushed up oil prices, potentially adding to inflationary pressures in the world’s largest economy. Traders have returned to pricing in a quarter-point Fed hike by December and around a 16% chance of a second increase. Last Thursday, markets were betting that March 2027 would be the earliest timing for a quarter-point hike. “Resilience in the labor market makes it easier for a central bank to defend tighter policy warranted by higher inflation,” said Abbas Keshvani , director of Asia macro strategy at RBC Capital Markets in Singapore. “Naturally it is the front-end which has sold off the most.” Read More: US Bonds Slide as Strong Jobs Data Fuels Bets on 2026 Fed Hike Yields on two and five-year Treasuries have risen more than 80 basis points since this year’s lows in March to 4.19% and 4.31% respectively. Those on benchmark 10-year debt have risen more than 60 basis points to 4.56% . Goldman Sachs Group Inc. economists say they no longer expect the Fed to cut interest rates this year due to a stronger-than-expected labor market. JPMorgan Chase & Co. sees 10-year yields ending the year higher at 4.70%. Traders are also wagering that inflation figures this week will show the biggest surge in consumer prices in several years, adding to the case for higher rates. What Bloomberg Strate...
Australia’s Prime Minister Anthony Albanese said on Monday migration levels were reducing, responding to an opinion poll showing a right-wing populist party ahead of governing Labor. Support for One Nation party was 31 per cent, ahead of Labor on 30 per cent, a Newspoll published in The Australian newspaper on Monday showed. Albanese’s net approval rating has sunk to its lowest level since the 202...
Australia’s Prime Minister Anthony Albanese said on Monday migration levels were reducing, responding to an opinion poll showing a right-wing populist party ahead of governing Labor. Support for One Nation party was 31 per cent, ahead of Labor on 30 per cent, a Newspoll published in The Australian newspaper on Monday showed. Albanese’s net approval rating has sunk to its lowest level since the 2022 election at minus 24, with 36 per cent of Australians satisfied with his performance, 60 per cent...