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Recognized Experts in High-Yield Investing.


The go-to-source for intelligence on alternative asset classes with high yield potential





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Specialized Investment Research


Leonberg Capital is an investment boutique that specializes in alternative asset classes with high-yield potential. This includes REITs, mREITs, MLPs, BDCs, CEFs, Yield Cos, Preferred shares, and other high yielding equities.

We provide research services ranging from generic investment newsletters to customized research projects, and consulting services, mainly addressed to REIT management teams.

Customized Research 

We complete customized research projects on specific companies to hedge funds, private equity firms, family offices, HNW individuals, and other institutional investors. 


We cater our research services to your specific needs. Whether you need to complete a one-time research project on a specific company or need a reliable partner for regular market coverage of a specific sector, we can help.

Investment Newsletters

High Yield Landlord is a specialized newsletter dedicated to REIT investing. It covers the entire REIT sector and provides access to our recommendations, model portfolios, and REIT market data. Today, High Yield Landlord is one of the largest REIT newsletters in the world. It is hosted on and you can learn more by clicking here.


High Yield Investor is a broader newsletter dedicated to high yield investing. It covers all alternative asset classes with high yield potential and provides access to our recommendations and model portfolios. High Yield Investor is also hosted on and you can learn more by clicking here.

Strategic Consulting

We provide independent guidance to REIT management teams on how to maximize shareholder value and improve investor relations.

We have deep market knowledge on how shareholders react to different corporate actions and provide our independent guidance on strategic decisions to REIT management teams.






About Us

True Specialists with One Focus:
Generate high yield in listed alternatives

Leonberg Capital is a contrarian, value-oriented investment boutique specializing in alternative asset classes with high yield potential. We focus mainly on REITs, mREITs, MLPs, BDCs, CEFs, Yield Cos, Preferred shares, and other high-yielding equity sectors that are often mispriced and present opportunities for active investors. 

We are not only an investment research firm. We are also the active manager of our own portfolio and invest in all our recommendations to align interests with our clients.

More than 2,500 clients have trusted us with their high yield investment research; over 100,000 investors follow us on the financial website SeekingAlpha, and +5,000,000 people have read our published reports last year alone. 

Leonberg is based in Tallinn, Estonia, and Dallas, Texas, and also maintains a strong presence in other markets through an extensive list of research partners.


Key Personnel

Jussi Askola, CFA

Jussi Askola is a former private equity investor with experience working for a $800 million investment firm in Dallas, Texas; and performing property acquisition in Germany and Estonia. Today, he is the President of Leonberg Capital, where he specializes in high yielding real estate securities. In addition to having passed all CFA exams, Jussi holds a B.Sc. in Real Estate Finance from University Nürtingen (Germany) and a B.Sc. Construction and Property Management from University of South Wales (UK). He is a well-known voice in high yield investing with over 60,000 followers on Seeking Alpha, has been featured on numerous financial media outlets, and has built relationships with many top executives of high yielding vehicles.

Samuel Smith
Vice President

Samuel Smith is a former lead analyst at one of the world’s largest investment research publishers. Today, he is the Vice President of Leonberg Capital, where he leads our research on non-real estate securities. Samuel is a Professional Engineer and Project Management Professional by training and holds a B.S. in Civil Engineering and Mathematics from the United States Military Academy at West Point and a Master's in Engineering from Texas A&M.

R. Paul Drake

R. Paul Drake is an award-winning physicist and professor at the University of Michigan who brings a retiree perspective to our group of authors. After investing via employer tax-deferred plans for several decades, he has in recent years broadened into a variety of more focused investments. Paul is a life-long reader of works on economics, finance, and investment. This has led him to embrace the value-investing approach we follow at Leonberg Capital. He brings substantial experience in research, and in understanding and developing models of uncertain systems, from his decades working as a physicist. Among other degrees, he holds a Doctorate in physics and a Bachelor's in philosophy.

Austin Rogers

Austin Rogers is a licensed Texas real estate agent and he splits his time between a residential management company with over 1,000 units under management, a family office with 50 net leased CRE properties, and, of course, REIT research for Leonberg Capital. He began writing for the site a few years after graduating from Western State Colorado University with an M.F.A. in Creative Writing, combining his passion for writing with his real estate career.

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Key Personnel

Proven Track Record

We all rank among the very best analysts with exceptionally high hit-rate and returns on our +300 past recommendations according to independent rating service TipRanks.
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We are true specialists with one focus:
Generate alpha in the often-mispriced high yield sectors
Track Record

Contact us


To learn more about how our services can benefit you, please complete the contact form below:

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Dallas, USA

Tallinn, Estonia

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