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Strategies & Market Trends : REITS - Buying 1 - 2 weeks before going ex-dividend

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To: Richard Barron who wrote ()7/7/1999 2:55:00 PM
From: Wren  Read Replies (1) of 2561
 
EOP - Equity Office Properties

The current issue of REITWEEK mentioned eight REITS that are selling below NAV - AVB, ASN, SRW, HMT, PLD, URB, CLI, EOP.

I looked at them and the most interesting was EOP. The only technical indicator that I look at is Relative Strength Index. The RSI on EOP was below 20 yesterday. This usually either indicates a good buy or a company going down the tubes. I can find no reason that EOP is going down the tubes. I saw a number of very recent large block trades in the news, and looked at insider sales to see why. Over the past two months several large pension funds have given notice of their intent to sell a total of about 7.5 million shares. This heavy selling pressure probably accounts for the recent slide in the EOP price.

Does anyone else have any information or an opinion on EOP?
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