This month was pretty solid with the market continuing its upward grind. Earnings season was in focus with good reports outweighing the bad. Most of the attribution to the hurricanes was legitimate but a few did raise my eyebrows. The US dollar turned in a second rising month. The S&P index increased by 2.22% while my portfolio lagged (again) by only increasing 2.03%. The two culprits were international currency weakness and a drop in value in my October (speculative) purchase. For the year I’m still ahead of the index by 2.7%.
Headlines impacting my portfolio (bold are owned):
- 10/3 – IRM acquires Bonded Services Holdings from Wicks Group, LLC
- 10/4 – IBM acquires Vivant Digital (pvt)
- 10/5 – YUMC initiates quarterly dividend scheme
- 10/5 – IRM buys CS datacenters in London and Singapore
- 10/6 – K acquires Chicago Bar Company LLC (RXBAR)
- 10/11 – BHB sells insurance business
- 10/11 – FHN acquires Professional Mortgage Co.
- 10/16 – SJI buys NJ/MD assets from SO
- 10/17 – SYY acquires HFM Foodservice
- 10/18 – India approval for POT/AGU merger received. awaiting US and China.
- 10/18 – DGX to acquire Cleveland Heart Lab
- 10/19 – JNJ acquires Surgical Process Institute
- 10/25 – AAPL acquires PowerbyProxi
- 10/30 – DGX aquires some California Laboratory Associates assets
- 10/30 – TU to acquire Xavient Information Systems
- initiated position in NXNN
- October delivered an increase of 24.59% Y/Y with the about half of the increase being attributable dividend increases and the other half purchases.
- October delivered an increase of 8.53% over last quarter (July).
- Declared dividend increases averaged 10.91% with 70.62% of the portfolio delivering at least one increase (including 2 cuts and 1 suspension).
- YTD dividends received were 103.83% of total 2016 dividends which exceeded last years’ total on October 25th.
Spirit Realty Capital (SRC) has been announced.
AGU/POT (Nutrien) remains pending.
With the primary goal of exceeding last year’s dividends completed, my focus turns to developing a strategy for 2018. Meanwhile adding NXNN (speculative) in October and DRE for November’s primary purchase. DRE as they go ex-div next week and a special dividend is likely in December as a result of the sale of their Medical buildings to HTA this past May.