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: Richard Barron who wrote (1336)	5/10/1999 11:00:00 PM
From: Richard Barron	Read Replies (1) of 2561

GREAT DAY for the REITs!!! Since GLB and CEI did so well today, I'll take another dip in the pool for a very undervalued REIT. KRT is a pretty mediocre REIT. They pay a high percentage of FFO in dividend, but it and PRT are probably the only REITs with somewhat stable and growing FFO paying 14 & 13% dividends. KRT seems to capitalize expenses differently than most since their CAD is actually higher than their FFO. There are only a few REITs trading below 9xCAD, and KRT is less than 7xCAD. The downside from here is unlikely as REITs were very strong today and seem to be under major accumulation. More than 1/2 of REITs are up 20% or more from their March-April lows. KRT seems to be bottomming here in the low 13's. Many investors look at KPT, CWN, and AKR thinking they are at very low FFO multiples and at a discount to Book. I think KRT is as compelling a value, but has turned the corner raising FFO recently, while the others are just stabilizing. Richard

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