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Strategies & Market Trends : American Realty Trust (ARB)-TCI, IOT, CMETS
ARB 29.03-0.1%Oct 30 4:00 PM EDT

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To: leigh aulper who wrote ()3/29/1998 1:16:00 PM
From: MCsweet  Read Replies (1) of 24
 
Up to speed on IOT

HELP!! I am looking at IOT, and it seems quite undervalued with
a dividend yield of 5% and a PB ratio of 0.7. Moreover, it
is my impression that the Houston and Dallas real estate
markets are doing well --- I know that my rent here in Houston
increases at about 10% per year, and apparently IOT owns some
apartment complexes around here.

So why is the stock price so low? Incompetent management
or fees that are eating up all the earnings? I just requested
the most recent 10K, but from what I've read so far on the
internet it appears that the company is actually losing money
if the property sales are not included. Is this typical for
these kinds of REIT's.

Thanks for your help!!
MC
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