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Strategies & Market Trends : Value Investing
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From: Paul Senior2/24/2023 2:48:38 PM
   of 78697
 
Market not liking reports from office/mixed use reits. Especially, apparently California-related.
12-mo lows today. No reports of distribution cuts...yet.

I make small adds to my positions: KRC, DEI, CTO.

I like DEI - "one of the largest owners and operators of high-quality office and multifamily properties located in the premier coastal submarkets of Los Angeles and Honolulu." If Los Angeles loses its wealthier people as they move to more attractive areas with less taxes, and/or if more people continue to work at home, or if more people share desks, get downsized, then maybe office reits will never be good investments anymore. Otoh, if office demand ever comes back, DEI assets would not be replaceable. There just is not much cheap or available land in metro LA, I am surmising.
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