If I Was Retiring In 10-20 Years With 10 REITs - Part 3

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The Federal Reserve is expected to cut interest rates, benefiting REITs, which have shown strong performance and offer attractive investment opportunities for long-term growth.NETSTREIT, Kite Realty, ...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIf I Was Retiring In 10-20 Years With 10 REITs - Part 3\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-14 19:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4721047-if-i-was-retiring-in-1020-years-with-10-reits-part-3><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The Federal Reserve is expected to cut interest rates, benefiting REITs, which have shown strong performance and offer attractive investment opportunities for long-term growth.NETSTREIT, Kite Realty, ...</p>\n\n<a href=\"https://seekingalpha.com/article/4721047-if-i-was-retiring-in-1020-years-with-10-reits-part-3\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4084","symbol_name":"特种房地产投资信托","start_time":0,"source_url":"https://seekingalpha.com/article/4721047-if-i-was-retiring-in-1020-years-with-10-reits-part-3","article_id":"2467096276","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1497523107/image_1497523107.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2467096276","pubTimestamp":1726311600,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"We shall soon see. But real estate investment trusts, or REITs, are responding well regardless. They have been for several months now, as shown on the chart below.   Yahoo Finance The bottom line represents the year-to-date movement of the benchmark Vanguard Real Estate Index Fund ETF Shares . And while it’s clear these REIT-heavy shares haven’t gained as much as the S&P 500  – up “only” 11.2% vs. 17.6% – that just means they have more room to run in their stock price recovery. If anything, the S&P 500 is overvalued, whereas REITs are still making up for misunderstandings of the past few years:   Yahoo Finance That makes today a great time to buy into REITs, regardless of what stage of life you’re in. But as for those with 10–20 years left to retirement?","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4084":"特种房地产投资信托","BK4234":"特殊用途房地产信托","BNL":"Broadstone Net Lease, Inc.","REG":"Regency Centers Corp","BK4231":"零售房地产信托","533.SI":"ABR","BRX":"Brixmor Property Group Inc.","BK4561":"索罗斯持仓","KIM":"金科","STAG":"STAG Industrial","BK4171":"工业房地产投资信托","CTO":"CTO Realty Growth, Inc.","PLYM":"Plymouth Industrial Reit Inc.","BK4224":"工业房地产信托","CFA":"VictoryShares US 500 Volatility Wtd ETF","ARE":"亚历山大房地产","BK4223":"办公室房地产信托","BK4225":"医疗保健房地产信托","BK4194":"办公房地产投资信托","NTST":"NetSTREIT Corp.","WPC":"W. P. Carey Inc","BK4160":"多样化房地产投资信托v","BK4585":"ETF&股票定投概念","VICI":"Vici Properties","KRG":"凯特地产信托","BK6000":"餐馆","BK6509":"食品和饮料股","BK4080":"零售业房地产投资信托","VNQ":"不动产信托指数ETF-Vanguard","CFA.SI":"NikkoAM-STC Asia REIT","BK4588":"碎股"},"translate_title":"如果我在10-20年内退休，拥有10个房地产投资信托基金-第3部分","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CFA.SI":1,"WPC":1,"VNQ":1,"VICI":1,"STAG":1,"REG":1,"PLYM":1,"NTST":1,"KRG":1,"KIM":1,"CTO":1,"CFA":1,"BRX":1,"BNL":1,"ARE":1,"533.SI":0.9,"US7Y.BOND":0.9,"US6M.BOND":0.9,"US5Y.BOND":0.9,"US3Y.BOND":0.9,"US30Y.BOND":0.9,"US2Y.BOND":0.9,"US12M.BOND":0.9,"US10Y.BOND":0.9,"US912797HE00.BOND":0.6,"US912797GW17.BOND":0.6},"content_text":"The Federal Reserve is expected to cut interest rates, benefiting REITs, which have shown strong performance and offer attractive investment opportunities for long-term growth.NETSTREIT, Kite Realty, VICI Properties, and Plymouth Industrial are recommended buys due to their strong fundamentals, high-quality tenants, and solid balance sheets.REITs offer reliable dividends and potential for compounding returns, making them ideal for investors with 10–20 years until retirement.The article highlights 10 REITs with an average dividend yield of 5.0%, emphasizing their potential for steady income and growth.   Dilok Klaisataporn We’re now just days out from the Federal Reserve’s September meeting and subsequent announcement. And unless something intensely out-of-the-blue happens after I write this – something that sends inflationary figures sky-high at a moment’s notice – it’s all but given. We’re going to see a cut in interest rates. Revised jobs data has indicated a slowing economy. And the last four months’ worth of Consumer Price Index (“CPI”) data has shown cooling inflation. Not that prices are declining. Because they’re not. Just that the rate of their rise is slowing down, which Fed Chair Jerome Powell has indicated is good enough. As such, the market debate is no longer about whether interest rates will be cut this month. It’s only about by how much. A quarter of a percent? A half a percent? We shall soon see. But real estate investment trusts, or REITs, are responding well regardless. They have been for several months now, as shown on the chart below.   Yahoo Finance The bottom line represents the year-to-date movement of the benchmark Vanguard Real Estate Index Fund ETF Shares (VNQ). And while it’s clear these REIT-heavy shares haven’t gained as much as the S&P 500 (SP500) – up “only” 11.2% vs. 17.6% – that just means they have more room to run in their stock price recovery. If anything, the S&P 500 is overvalued, whereas REITs are still making up for misunderstandings of the past few years:   Yahoo Finance That makes today a great time to buy into REITs, regardless of what stage of life you’re in. But as for those with 10–20 years left to retirement? They can really, really win right now. You Don’t Need to Be a Market Timer to See REITs’ Appeal To be clear, I’m not a market timer. Short-term market movements are far too unpredictable, as this month alone has shown. The wild swings have been intense, both to the downside and upside. And we might see more of that still, depending on upcoming Fed actions. If it cuts by “too much,” traders could interpret it as a sign the economy is in peril, prompting them to dump shares. Since I’m not a market timer, however, that won’t ultimately bother me. I’ve been holding on to my REIT shares through (reasonable) thick and thin. Considering how I bought into them at fair or bargain prices… how they continue to show impressive balance sheets despite their depressed stock prices… and how they’ve been faithfully paying – and raising – their dividends… I’m more than pleased with my portfolio, especially when I still plan to work for a while more. Not 20 years, mind you. But I do love what I do, so I could easily see myself doing it another decade. In which case, I’ll get another decade’s worth of profit from the power of compounding. Not being on a fixed income (yet) means I’ve got “disposable” money to spend where I want. And while I will admit I’ve enjoyed a (working) vacation or two this year and that I splurge on Starbucks coffee on a weekly basis, I put a sizable chunk of my change right back into my investments. The dividend payments my REITs faithfully give me every quarter or even every month? I reinvest them into those same companies, buying up more shares that then give me more dividends. And those additional dividends then go into buying up more shares – at opportune times – that then give me more dividends still. Do that for a decade or two, and you’re going to have plenty of dividends coming in by the time you retire and your regular income sources end. The REIT Wisdom of Experience Admittedly, this logic makes now an even better time for younger investors to get into REITs. If a decade or two of reinvested dividends can do so much… Think about how much three, four, or even five could achieve! Then again, too many youths are obsessed with literally “stocking” up on foolish assets. I know this from up-close-and-personal observations of my college-aged son. As some of you know, he made a mint a few years ago through online gambling. I tried to show him how to invest that money wisely, first with REITs – which he didn’t want to buy – and then with “cooler” choices that were still wise, which he also didn’t want to buy. He was too interested in non-fungible tokens and other crypto opportunities. That’s how he lost a mint a mere month or two after making it. What I’m trying to say here is I’d be thrilled if any younger investors want to take these “If I Was Retiring in 10–20 Years With 10 REITs” articles to heart. But I know that’s a smaller population than I have a chance of reaching. So I’ll keep aiming the series at the titled group. And since this is the last installment in it, I want to give a final shoutout to the reader who inspired all three parts. Long Disruption wrote this on my previous series, “If I Had to Retire Today With 10 REITs”: “Another great analysis. You opened my eyes to a REITs a while ago. Have you ever considered a similar analysis to this, but geared toward an age range that’s maybe 10 years (and/or 20) from retirement?” So, thanks again to Long Disruption and to all my other readers who keep the comments coming! This one – and every other article I write – is most definitely for you.  NETSTREIT Corp. (NTST)  NTST is an internally managed REIT that specializes in the acquisition, ownership, and management of single-tenant, freestanding retail properties subject to long-term, net lease agreements. The company has a market cap of approximately $1.3 billion and holds an 11.7 million SF portfolio consisting of 649 investments across forty-five states. In addition to the company’s net lease properties, NETSTREIT issues fully collateralized mortgage loans for which it receives interest income, typically at a fixed rate. NTST looks for tenants in industries where the physical location is essential to the operation of the business. Moreover, it targets retailers that provide essential goods and services such as home improvement, drug stores, auto parts, grocers, discount stores, and convenience stores. I would say the one characteristic that makes NTST stand out is the amount of investment grade tenants it has. At the end of 2Q-24, the company received a whopping 68.9% of its annualized base rent (“ABR”) from IG tenants. Eight out of the company’s top ten tenants have an investment grade credit rating and include high-profile names such as Dollar General, Walgreens, Dollar Tree, CVS, and Home Depot. At the end of the second quarter, NTST’s portfolio had an 100% occupancy rate and a weighted average lease term (“WALT”) of 9.5 years.   NTST - IR NTST places heavy emphasis on the credit profiles of its tenants, as well as the resiliency of their operations as it relates to recessions and the threat of e-commerce. 83% of the company’s tenants are either investment grade or have an investment grade profile and 88% are necessity, discount, and/or service-oriented tenants. In total, the company has ninety tenants that operate across twenty-six retail industries. NTST has 100% portfolio occupancy, long lease terms, and high-quality tenants, however, several of its top tenants are currently experiencing difficulties. The company’s largest tenant, Dollar General, contributes nearly 12% of the company’s ABR. Both Dollar General and Dollar Tree have struggled recently as inflation has pressured their low-and middle-income customer base. In its Q2 2024 earnings release, Dollar General reported that its operating profit during the quarter decreased 20.6% compared to the same period in 2023. Additionally, the company reported net income of $374.2 million during Q2 2024, which is a 20.2% decrease compared to net income of $468.8 million that the company reported a year ago. Both Dollar General and Dollar Tree are attempting to improve operations, but it remains to be seen how successful they will be. Another top tenant, Walgreens, has also had issues recently and is currently in the process of closing some of its U.S. stores. Combined, these three tenants make up 23.3% of the company’s ABR, so investors should stay apprised of any announced store closures, however, NETSTREIT has long lease terms (WALT 9.5 years) and only 3.5% of its leases turnover through 2026. All three of its troubled tenants are investment grade credit rated and well capitalized, so there are plenty of scenarios that could play out over the coming years, but it is something to keep an eye on. Overall, NTST’s tenants are defensive in nature and should hold up well against recessions and/or the threat of e-commerce.   NTST - IR NTST has a fortress-like balance sheet with excellent debt metrics including an adjusted net debt to adjusted EBITDAre of 3.4x, an adjusted net debt to un-depreciated gross assets ratio of 20%, and an EBITDA to interest expense ratio of 4.72x. Additionally, the company has total liquidity of $569.2 million and no debt maturities until 2027.   NTST - IR NTST is expected to increase adjusted funds from operations, or AFFO, per share by 4% in 2025 and by 5% the following year. The stock pays a dividend yield of 4.91% and is currently trading at a P/AFFO of 13.63x, compared to its average AFFO multiple of 15.22x. We rate NETSTREIT a Buy.   FAST Graphs  Kite Realty Group Trust (KRG)  Kite Realty is a REIT that specializes in developing, acquiring, and operating high-quality, open-air shopping centers primarily located in the sunbelt region of the country. It's difficult to overstate KRG’s focus on the Sunbelt, as it generates nearly 70% of its ABR from this region. The company has a market cap of approximately $5.8 billion and a 28.0 million SF portfolio comprising 178 shopping centers and mixed-use assets concentrated in high-growth sunbelt markets, as well as certain strategic gateway markets within the U.S. KRG primarily focuses on grocery-anchored shopping centers but also invests in mixed-use and lifestyle assets. As of its latest update, 79% of the company’s ABR is derived from properties with a grocery component. Kite Realty looks for a mix of tenants that provide essential goods and services. Some of its larger industries include banks, medical offices, restaurants, office supplies, and grocery stores. KRG’s top tenant is TJX, which accounts for 2.8% of its ABR, followed by Best Buy and Ross Stores, which account for 2% each. Additionally, the company is well diversified by tenant and only receives 21% of its ABR from its top fifteen tenants combined. The company’s top two states are Texas and Florida, which together make up roughly 39% of its ABR, and its top market is Dallas-Fort Worth, which constitutes approximately 17 percent. KRG’s shopping centers have an average 3-mile population of 76,000 and an average 3-mile household income of $115,000. At the end of Q2 2024, the company’s portfolio was 94.8% leased.   KRG - IR Shopping centers are one of my more favored property types right now, as there are structural trends driving demand, namely low shopping center supply. After the Great Recession, annual retail deliveries dropped off a cliff and have yet to recover. I think the primary reason shopping center supply has lagged has been the uncertainty surrounding e-commerce. Over the last 10 to 15 years it has been unclear what impact online retail would have on traditional brick & mortar stores and many developers have been hesitant to undertake massive development projects. I believe one of the most impactful things coming out of the pandemic is the fact that it gave us a test run of what an “all-online” world would look like. For years, the fear has been that online retail would replace brick & mortar, at least to some extent, but during the pandemic the most successful retailers found that an omnichannel approach was superior to either just an online presence or just a physical store. Ironically, the pandemic revealed the true value of physical stores and removed many of the uncertainties surrounding the future of brick & mortar retail. In any case, regardless of how we got here, the lack of retail deliveries over the past 15 years has put upward pressure on leased rates, which is showing up in comparable leasing spreads.   KRG - IR The favorable supply demand dynamic is showing up in KRG’s leasing numbers for both new leases and non-option renewals. In 2023, the company reported comparable new cash leasing spreads of 41.3% and comparable non-option renewal cash leasing spreads of 13.0%.   KRG - IR There is a lot to like about Kite Realty, and its balance sheet is no exception. The company has excellent credit metrics and is investment-grade with a BBB credit rating from S&P Global. KRG has a net debt to adj EBITDA of 4.8x, a long-term debt to capital ratio of 46.74%, and a debt service coverage ratio of 4.9x. Additionally, 93% of KRG’s debt is fixed rate with a weighted average interest rate of 4.35%, and as of its latest update, the company had total liquidity of $1.3 billion.   KRG - IR Analysts expect AFFO per share to increase by 4% in 2024 and then for growth to accelerate, with AFFO per share projected to increase by 6% in 2025 and then increase by 9% the following year. The company pays a 3.88% dividend yield, and the stock is trading at a P/AFFO of 18.44x, compared to its average AFFO multiple of 15.76x. While the stock is trading above its historical average, it is priced attractively compared to its peers. As an example, Regency (REG) is currently trading at an AFFO multiple of 21.49x and Kimco (KIM) is currently trading at 19.34x. Neither has anywhere near the same sunbelt exposure as a percentage of their total portfolio. Furthermore, we feel that in general, shopping centers will be re-priced as demand for retail space continues to outstrip supply. We rate Kite Realty a Buy.   FAST Graphs  VICI Properties Inc. (VICI)  VICI is an experiential REIT that owns a portfolio of top gaming & entertainment destinations across the U.S. and Canada. The company is known for its collection of trophy properties which include iconic gaming destinations such as Caesars Palace and MGM Grand Las Vegas. Other iconic properties owned by VICI include Luxor, Mirage, Excalibur, Venetian, and Harrah’s, all of which are located on the Las Vegas Strip. To complement its existing asset base, the company owns twenty-six acres of undeveloped land next to Planet Hollywood and seven acres of strip frontage adjacent to Caesars Palace. The company has a market cap of approximately $35.2 billion and a 127 million SF portfolio made up of fifty-four gaming properties and thirty-nine other experiential properties, which primarily consist of bowling alleys acquired last year by the company. VICI’s core-gaming properties contain 4.2 million SF of gaming space and around 66,000 gaming units. The properties feature over 60,000 hotel rooms, 6.7 million SF of convention space, five hundred retail outlets, and over five hundred restaurants, nightclubs, bars, and sportsbooks. Additionally, the company owns four championship golf courses located in Mississippi, Indiana, and Nevada.   VICI - IR VICI’s tenants are subject to triple-net lease agreements that have extremely long terms. At the end of the second quarter, the company’s portfolio had a WALT of 41.2 years when including all extension options. VICI’s long lease terms help to offset the risk associated with its high tenant concentration, as the company only has thirteen tenants. Normally, this level of tenant concentration would be a concern, but the types of properties owned by VICI mitigates this risk as well. I would go as far as to say VICI could be considered the only REIT with a moat, or at least the REIT with the largest moat. With access to capital, anyone can build a shopping center, or a convenience store, but Caesars Palace in Las Vegas cannot be duplicated or replaced. These properties are essential to the brand of the gaming operators and are a necessary component for its business to function. Caesars Entertainment just would not be the same without Caesars Palace in Las Vegas. The importance of these properties to the gaming operators is evidenced by VICI’s 100% occupancy rate and 100% rent collection since formation.   VICI - IR VICI has an investment grade balance sheet with a BBB- credit rating from S&P Global. The company has solid debt metrics including a net leverage ratio of 5.4x, a long-term debt to capital ratio of 40.60%, and an EBITDA to interest expense ratio of 4.25x. Nearly all of VICI’s debt is fixed rate and 83% is unsecured. The company’s debt is well staggered, with no debt maturities due in 2024 and a weighted average term to maturity of 6.6 years.   VICI - IR Since 2019 the company has delivered an average AFFO growth rate of 6.74% and an average dividend growth rate of 10.11%. Analysts expect AFFO per share to increase by 5% in 2024 and then increase by 3% and 4% in the years 2025 and 2026, respectively. VICI pays a 5.15% dividend yield and currently trades at a P/AFFO of 15.07x, compared to its average AFFO multiple of 15.93x. We rate VICI Properties a Buy.   FAST Graphs  Plymouth Industrial REIT, Inc. (PLYM)  PLYM is an internally managed REIT that specializes in the development, acquisition, and management of single and multi-tenant industrial properties. The company owns various industrial properties including light industrial, warehouses, distribution centers, and small bay industrial facilities. The company has a market cap of approximately $1.1 billion and a 35.0 million SF portfolio comprising 159 properties that are 97% occupied and have a WALT of 3.2 years. Plymouth has a targeted focus on a region within the U.S. they refer to as “The Golden Triangle,” which spans from the Midwest region of the country and broadens out to cover parts of the Southeast and Texas. There are several attractive characteristics within the Golden Triangle (“GT”) region, such as:  The GT is within a 24-hour drive time to nearly 70% of the country Within the GT’s boundaries includes over half the country’s GDP The GT region contains more ports than any other part of the country The GT encompasses the majority of the Class I railroads The GT region has had an average population growth of 4.9% over the last 5 years 80% of EV and Battery production facilities are located within the GT states.  Some of the PLYM’s top states within the Golden Triangle include Michigan, Ohio, Kentucky, Tennessee, Georgia, and Missouri.   PLYM - IR Recently, all the rage has been about big box industrial properties located in primary markets that are used for online fulfillment and last-mile delivery. However, many of the industrial darlings of the past have recently experienced challenges as the wave of new supply has hit many of these primary markets. Primary markets like Southern California have struggled recently with low net absorption and slowing leasing activity. However, the industrial landscape has become very bifurcated with secondary markets and smaller sized industrial properties, especially those used in manufacturing, benefiting from the continued infrastructure investment within the U.S. PLYM is well positioned to benefit from the shift in demand for industrial space, as many of its facilities are located near Megasite Projects. These are regions listed on the White House website as areas where public policy and private investment have been combined to facilitate the production of electric vehicles, semiconductors, and batteries in the U.S. In addition to the location of its properties, 25.9% of the company’s assets are warehouse / light manufacturing industrial properties.   PLYM - IR PLYM has solid debt metrics; however, note that the company is more highly leveraged than many of its industrial peers. The company has a net debt to EBITDA ratio of 6.72x, a long-term debt to capital ratio of 64.92%, and an EBITDA to interest expense ratio of 3.22x. The company is not overloaded with debt, it just has more than the average industrial REIT. The company’s leverage ratio of 6.72x is within a reasonable range, which in my opinion goes from 5x to 7x. PLYM can cover its interest expense more than 3 times over, and the company redeemed its Series A preferred stock late last year. Most of the company’s debt is fixed rate (94%) and it has minimal debt maturities in 2024. Additionally, the company’s debt has a weighted average interest rate of 4.11% and a weighted average term to maturity of 2.7 years.   PLYM - IR Over the past several years, PLYM has had an average AFFO growth rate of 3.35%. However, analysts expect growth to pickup, with AFFO per share expected to increase by 6% in 2024 and then increase by 6% in both 2025 and 2026. The company pays a high yield for an industrial REIT. Plymouth pays a 4.18% dividend yield that is very secure with a 2023 AFFO payout ratio of just 52.02%. One of the best aspects of investing in PLYM is the price. Industrial REITs commonly trade for an AFFO multiple above 20x, however, PLYM is currently trading at a P/AFFO of 12.75x. We think the market has discounted PLYM due to its smaller industrial properties and secondary markets. However, we believe that trends in the industrial space are moving in PLYM’s direction, and that it will enjoy solid growth for years to come as the U.S. continues to invest in its infrastructure. We rate Plymouth Industrial REIT a Buy.   FAST Graphs In Closing Now let me recap the 10 picks from Series 1, Series 2, and Series 3…  W. P. Carey (WPC): Dividend Yield is 5.6% Brixmor (BRX): Dividend Yield is 4.0% Alexandria Real Estate (ARE): Dividend Yield is 4.3% STAG Industrial (STAG): Dividend Yield is 3.8% CTO Realty (CTO): Dividend Yield is 8.0% Broadstone Net Lease (BNL): Dividend Yield is 6.3% NETSTREIT: Dividend Yield is 4.9% Kite Realty: Dividend Yield is 3.8% VICI Properties): Dividend Yield is 5.2% Plymouth Industrial: Dividend Yield is 4.2%  The Average Dividend Yield is 5.0%.  I hope that you enjoyed the “If I Was Retiring In 10–20 Years With 10 REITs” series. Please let me know if you have other special requests, as I thoroughly enjoy writing for my readers. Happy SWAN Investing!","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"analysis","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2467096276"}