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

To: bob s who wrote (1888)	6/27/2000 10:13:00 AM
From: Richard Barron	Read Replies (1) \| Respond to of 2561

Bob, I bought MHC and SSS for the dividends yesterday. For the long term, I would like PSA under 23-1/2 and MHC under 24. AIC is a good price if FFO grows even 1-2% from here, but I need to see 2 quarters after the merger. I am trading REITs very quickly as I don't like buying them when rates are rising and I don't have any idea if the feds next move is up or down. In a recession, Self-storage is a great group that is more resistant than any except healthcare (which has it's own set of problems). Manufactured Housing leasing should be very stable also, but I'm not sure how much of FFO comes from sales, which will definitely slow as rates climb. If you know rates are done climbing and overbuilding isn't occurring, the most cyclical sector is hospitality and a 40-80% run up is possible within 2-3 years as many have FFO multiple's of 5-6 and could return to 10 or higher with the FFO 20% or more above current levels. Richard