George,
Here are some contacts for GVE: Damon Navarro-CEO: Joseph LaBrosse-CFO 1-860-520-4789 Connecticut, Jerry MacNamerra x125. I also have 1-860-246-1126 as a #. 1996 FFO was .94 and 1.02 is company projection for 1997. I show .30, .22, .25 and .28 as last 4 quarters, which is $1.05 FFO with many new shares issued and still being put to work. Dividend is expected to be .68 next year, about 6-1/2% at current rates. This is less than a 65% of FFO, which is extremely cheap. There are only a handful of REIT's that distribute less than 70% of FFO.
HFD just announced the dividend and can be picked up at $7.50. It is a $.24 dividend which works out to be almost 13%. It's likely to run from 7-3/8 back near 8 or higher in the next few days.
JDN tested 30, and may have to test more if the market stays so weak.
I liked the action on FAC this week. I think a bottom is set.
HPT is putting in a bottom as far as I can see. It was down to 32-1/4 and now 50,000 shares are on the bid at 32-3/4.
AGT, BOY, ENN and KPA are more hotel REIT's at bargain prices. PAH and HOT are the leaders and are also weak, though HOT is up today.
AML, BFS, DDR, PEI, SCA, & SUI are also low. Many of these still have selling pressure and may drop another 1/2 point in decent market conditions.
My favorite Industrial REIT is FR and it is below 34-1/4 for the first time in 5 weeks. It was running to highs 4 sessions after the Oct 28 mini-crash gaining more than 10% that week. There is huge support near 32 and then 30.
Richard |
