Peter,
Thank you for your kind wishes. I hope you had a great Thanksgiving also. It's nice to have made friends on this and other boards.
George,
I don't know if GLR is out of steam yet after raising the dividend 8.3%, but I will pick some up on the next 10-12% correction,(probably after the dividend). I have a call into a Mr Masilla at SIZ (1-504-471-6200), but so far we are playing telephone tag. He was nice and called me back yesterday within 2 hours of my call. I got a cold call from a guy at Oppenheimer with a free report on a company of my choice. I asked for one on SIZ, but they didn't cover it. After looking at it and the chart, he was interested as it is right on a trendline for support and only had another 3/4 point downside before major support. We'll see if he gets more interested, but I imagine it should stall out 1-3 more days and then move up quickly if there are no more sellers. I'm watching LWN, but if you want some serious insider buying look at NTAIF. Tonights report showed accumulation of over 1,000,000 units by insiders in a secondary just completed. It may take a while to get going due to the Asia location, but huge potential earnings. I don't own any yet, but may jump in for a little. I bought some NMGC and TDDDF today, when both were down 15% from the levels they were at last week.
Jim,
AAH is probably a good value here. If you are buying laggard REITs on great value, consider FAC, CWN and SIZ also. These are somewhat stagnant, but seem to be turning the corner on improving FFO. I don't know if EQR bailed out of AAH due to trouble they saw, or just to take a quick 15% profit in less than a month. If so, they should be buying again, but I haven't heard about that.
FCH and JDN look very cheap here with only 3/8-5/8 more downside risk on the bids without penetrating severe support. Not too many good REIT's trading at their lows anymore. Only a few highs, but Utilities are slowing down for a breather. If there aren't too many REIT secondaries and IPO's, then the money will flow into the middle size REIT's and eventually the microcaps. Most of the larger REIT's have recovered and are up 6-10% or more from their lows in the last month.
The best exception right now is EQR which is a great company and looks cheap under 49. Hotels look to be frowned upon this week, much like mall REIT's were about 3 weeks ago.
I'm looking for HFD to declare soon. If they keep the dividend at .24, it is likely to run 3/8 or so in a week, for a quick play, but no long term holding for me.
Richard |
