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

To: JOHN N. who wrote (1776)	2/21/2000 8:16:00 PM
From: Richard Barron	Read Replies (1) \| Respond to of 2561

John, I think KRT should be priced around 10 in this environment unless they can't re-lease the Caldors. I think a previous announcement led me to believe that the re-lease was just a formality. I'd wait for the earnings report, as many surprises have been showing up (PGE, GLB, NXL, PP, PKY etc.) with AFFO drops. This is already priced for a pretty deep drop. I don't know offhand what percent of their debt it variable, nor if there are any relationships with the officers/board and affiliated companies. I don't know how much commissions they will get for the merger also. SFI took care of their insiders when they merged with TRI. This will keep institutions from owning them for a long time. PGE and KTR appear to be oversold, but it may be based on the slides of PRT and CEI where the leaders are losing the confidence of the street. KRT, with the dividend cut lost it's clout and has to prove it before the street will jump back in. Richard