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

To: Lee Bush who wrote (1851)	5/26/2000 12:55:00 PM
From: LLCF	Read Replies (1) \| Respond to of 2561

Any opinion on Glimsher preferred???? 14% yeild, just like the common, who would buy the common? DAK

To: Lee Bush who wrote (1851)	5/26/2000 2:46:00 PM
From: Richard Barron	Respond to of 2561

Lee, I like PKY whenever it gets near 27. I'm not sure how much is a result of their buybacks, nor if they have exhausted most of their cash available for buybacks. I haven't researched PKY in a while, but I'd look for exposure to higher interest rates in the variable rate debt, and I'd be concerned that AFFO is off. Another quarter of weak AFFO would concern me greatly similar to GLB, which seems to be turning the corner. I believe PKY has a lot of Texas properties, which should do better with high gas prices. John, Thanks for clarifying the ex-dividend date issue. Allan, The ^RMS is the Morgan Stanley REIT index. I use this and EQR to gauge which way REITs are heading short term. David, I think the GRT preferred is very safe and would think it wiser for a long term investment. I have never traded it, so I can't be sure if you can make money on a trade. The common has been a good investment 3-5 weeks before the dividend almost every time for the last 2 years even though GRT fell during this period. As such, I may be looking for a 13-1/2 entry point anytime in the next 3 weeks. I may be 1/3 of a position here, and add to it. I like EPR best for a trade at these levels. I think KTR may be the most undervalued REIT in terms of AFFO multiple and will pick up some if any large seller panics and pushes it into the low to mid 12's. passingshot, I use NewsAlert to get REIT news including dividends, and then double check each day with either Investors Business Daily or the Wall Street Journal. Here is a newsalert pointer, and you can subscribe for free and turn on e-mail alerts on the subjects that interest you. newsalert.com Richard