Bob,
I was buying some HRP last week at 7-1/4. It's risky buying most of the REITs with healthcare exposure, but I like HRP, HR, and UHT at the current levels, as I think the nursing home exposure is completely priced in. I don't buy stocks based on take-over speculation, so I wouldn't consider GLB for that reason. On the other hand, the stock's NAV is probably 20 or more, which would make a takeover possible even at these prices. It still is a bargain in all likelihood, but I want a confirmation that FFO & AFFO are starting to rise again before I accumulate the common.
I think ASN is a darling and expensive short term, but fairly priced for the long term. If REITs continue to run, ASN should do well. BDN had a lot of exposure to interest rates a year ago as much of their debt was variable rate. I don't know if that is still the case. If so, it is fairly priced, but if they locked in the debt rates, then a price in the low 17's is probably the near term bottom.
Richard
By the way, Barron's showed KTR having significant insider buying (on page 42), so I feel even more confident about my last post stating that KTR is probably one of the best bargains out there in REITdom. |
