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Strategies & Market Trends : REITS - Buying 1 - 2 weeks before going ex-dividend -- Ignore unavailable to you. Want to Upgrade?

To: Richard Barron who wrote (1407)	7/22/1999 10:44:00 PM
From: Dave Mordis	Respond to of 2561

I bought GRT because my cousin who is a real estate developer recommended them as being extremely well run. Since I signed up for their DRIP the low stock price means I'm taking in more shares. Hopefully at some point the market will realize that malls seem to be surviving the advent of internet shopping.

To: Richard Barron who wrote (1407)	7/23/1999 12:51:00 AM
From: zebraspot	Respond to of 2561

>>Sentiment is turning negative on manufactured homes for the first time>> You think? AIC's sister, CAX($5.50), is getting pretty invested-up in the MHC sector, and is trading even cheaper relative to book value (around $7.50). During this transition period, CAX is currently paying out more than they earn, but by the time they get fully invested and leveraged up (by early next year?), they expect that they will more than earn the current annual payout of .53. My guess is that in a year CAX is either conservatively at $7.50+ (based on .53/7%=$7.50) or is bought-in by AIC. CAX and AIC together --with AIC's huge N.O.L.-- would be a nice combination, and if you factor a yield of 6% on the combination, you could easily see AIC trading in the $20's.

To: Richard Barron who wrote (1407)	7/24/1999 11:16:00 AM
From: gregor	Read Replies (2) \| Respond to of 2561

Richard. We are heading slowly for the ^rms at 305. There is something more dramatic going on here other than after dividend slumping or a technical correction after a rise from the rms at 275. Me thinks it is looming higher interest rates and another fed rise in August or Oct, and full underlying asset evaluations of properties. Any thoughts on picking reit's with significant declining debt to equity ratios.? Meanwhile I've lowered my rms target to 302.( another 1%) At some point the yields will support this sector like a bedrock layer of granite...gregor