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Strategies & Market Trends : Value Investing
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To: Madharry who wrote (22226)10/11/2005 12:12:32 AM
From: Paul Senior  Read Replies (1) of 78817
 
Madharry. I'm buying this stock for the dividend; I don't expect much capital gains. Which is okay, because I am expecting that the consistency of the stock price will offer a little bit of stability to the portfolio in which I am putting it.

To me, I see more risk that the dividend yield will continue to rise (as the stock price continues to fall). I find it rare that the dividends in these real estate companies are cut. (Of course, when the rare occasion occurs, the price plummets.)

You are correct in that there's not a lot of public or private history to the company. We do have some positives however:
1. Recent insider buys higher than current price.
2. Good dividend for the past four years.
3. Company seems to pride itself on having an unleveraged portfolio of properties. If I understand that right, that means no mortgage debt.
4. Company properties are diversified by type and by geography.

As is my wont, I like to buy as part of a diversified package. I have posted here on a recent buy of Camden Property. And there have been the education REITs. I also still have a few shares remaining of LHO and MLS - stocks I've posted on here over the past 1/2 decade or more. Also holding UDR.

For me, FSP might work. Diversity and time sometimes mitigate risk. For somebody else, somebody perhaps only with a high-tech portfolio of a dozen stocks who might be looking to add FSP, I'd say maybe FSP is a risky 1/13 bet to be making, and I presume a little too slow for somebody hoping and expecting a lot of action from his/her stock picks.
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