>"Still holding on to a 25% position on COR and a 75% in DLR."
FYI. I just checked. I am holding similar, but opposite. I still own a 75% position in COR and 20% in DLR. I sold quite a bit in 2012 however (I used to have super sized position in COR). So far this year, I sold 80% of my DLR and almost half of my COR. I will keep the rest for awhile. No complaints. I always tell myself, "if unsure what to do, do half."
No matter how much we kid ourselves, the stocks are a bit overvalued. No one can say how much. They have PEs of 15-16 this year, while some reits have half that (AHT, HPT, BDN...) And others, like LXP, STAG, GOV and MPW are around 10-11. Many factors justify their higher PEs. Growth rate for one. And COR has almost zero debt. Plus very low risk of losing tenants. So it is prob good to keep some in the portfolio for diversification in case the economy crashes, and good to keep while momentum and market attention is going their way. But hard to justify on a rational basis. COR is almost at your 3% yield trigger anyway. I see insider selling for DLR; none for COR.
grommit |
