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Strategies & Market Trends : REITS - Buying 1 - 2 weeks before going ex-dividend
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To: Bob Rudd who wrote (1435)8/13/1999 6:13:00 PM
From: Q.  Read Replies (1) of 2561
 
Bob, I hope that the HRP spin-off will be successful. In January I bought HRP as a valuation play, for the very reasons you listed: lots of high quality offices plus a small exposure to health care, yet a valuation more appropriate for a pure health care play. I would have thought that all we need is a catalyst to unlock the value.

Now there is a catalyst -- the company has made fairly definitive plans for the spinoff. So you might think that the market would get efficient already and recognize the value, but it still isn't happening. The stock has been falling hard, even after the latest announcement.

If you assume that the market will continue to ignore what is going on with the spinoff and value, you might as well wait until they file a prospectus for the senior housing shares, because then it will be a more definite thing.
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