Peter,
I sold almost 1/2 of the REIT's I bought in the last week and made 3-5% profits or more. I think another downleg is likely. There is a lot of fear, the Brit's raised their fed rate, and once 7600 is penetrated, a retest of 7100 is likely. It may not come down, but there are so many REIT's that are great buys, I don't mind selling too soon. So, to answer your question: FFA has a lot of support at 24-1/2 and then 23. I didn't see any panic volume to indicate a bottom is near like CBL has had lately. When the panic volume dries up and someone tries to establish a position a stock can rebound 5-10% in days. FFA is a good company so again I would recommend 1/3 now, 1/3 if it drops to 23 and low change and 1/3 in 6-8 weeks since it is likely to be steady by then and most REITs seem to rebound 1-4 weeks before the dividend recently. I don't follow NNN that much and with the slower FFO growth, I'll look elsewhere unless it drops severely.
Jim,
MT merged with SAR and the shares are probably adjusted about .83, so it appears the shares are slightly up. (1.20 shares for each share previously held).
Good timing on HIW. I already had a full position, but was tempted to buy some more. MAC and AML also are going ex-dividend soon, and were trading at lows. I hope URB pulls back again. It looks dirt cheap. SEA and WRI are a few weeks out and are cheap. TEE is coming back into range.
The NUT announcement is interesting. I hope NUT tanks for a while since the builder is struggling and with the ASIA fiasco, Hawaii will be in a slump for a while. These 2 combined may cause a lot of people to panic out, since they don't necessarily want a home builder or the cycles that come with them. I feel the people at NUT want to build on the property eventually (if they can get it zoned for non-agriculture) and can exploit the opportunities by becoming a developer. So, if enough people can't understand the new company and sell off, maybe there will be a buying opportunity in the low 3's. If so, I'll take my chances with a 7-9% yield and a long term opportunity of huge land value increases.
Richard |
