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Strategies & Market Trends : Value Investing

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To: Grommit who wrote (33605)	3/18/2009 4:09:19 PM
From: E_K_S	Read Replies (2) of 78747

Brandywine Realty Trust (BDN) declared a quarterly cash dividend of $0.10 per common share today which is 30% below from their last year's quarterly payout. The preferred series continue to be paid at their stated rates. ( biz.yahoo.com ) The common shares traded at a 15 year low inter-day at $2.95/share (previous low in Dec 1992 was $1.50/share) and recovered back into it's previous trading range of $3.40/share - $3.60/share. After it's low in 1992, BDN traded to a recovery high of $25.00/share in December 1997 (5 years got a 16 bagger). Is a similar recovery possible in this cycle or will BDN default on some of their LT debt? Low 10 year yields pave the way for much better credit terms for REIT's. If they are borrowing at a premium to 10 year yields, the cost of capital just went down 25% today with rates dropping from 3% to 2.5% I doubled up on my BDNpC shares. Still underwater on my small amount of common shares. ================================================================ Sold out of 1/2 of my Enbridge Energy Management LLC (EEQ). I Hope to reenter the position if EEQ tests resent lows again around $23.00/share.

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