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Strategies & Market Trends : Value Investing
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To: E_K_S who wrote (34896)7/22/2009 11:12:29 PM
From: Spekulatius  Read Replies (1) of 78749
 
re FR
Where is your valuation for FR squarefootage coming from? Citigroup REIT report seems to indicate that FR stock trades at a premium to NAV. Since FR stock is only ma miniscule slice of the EV that does not seem to imply a huge margin of safety for FR-XX preferred since they come next in the capital structure. I agree that short term maturities are doable (assuming no nasty surprises from the joint ventures) but I do no think that FR preferred a low risk by any means.

citigroupgeo.com
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