REITS - Buying 1 - 2 weeks before going ex-dividend Message Board

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Strategies & Market Trends : REITS - Buying 1 - 2 weeks before going ex-dividend

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To: Paxb2u who wrote (513)	12/8/1997 4:42:00 AM
From: Richard Barron	Read Replies (1) of 2561

Peter, If the market goes soft, all of these will retest the lows with OAS and BNP the most likely to drop more than a 1/2 point below the old lows. OAS is a good 6 month play, but unlikely to move short term until 2 weeks before the dividend. FFO should be flat for 1 or 2 more quarters. Buying at 21-3/4 will only get to 22-1/2 until the week before the dividend. I think Oppenheimer will do a secondary on BNP soon. The might have to go another 3/4 to 1-1/2 points lower to raise the money. I hope CLP drops under 28 again. I will be dropping lots of $ into the position. It seems to run only from 28 to 29-1/4 these days, but it is very likely to retest 32-33 inside of 4 months. PPS is one I can't guess on. I expect it to struggle at 39, but if it gets through there for more than 3 or 4 days, it is likely to recover to the low 40's. It is fairly priced at 36-38, so I'd opt for CLP out of this list. For traders, BFS is getting close to a bottom. Richard

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