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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 (2425)	5/19/2003 8:37:45 PM
From: Richard Barron	Read Replies (1) \| Respond to of 2561

Lee, While I like HT, NHI and NHR, I am avoiding REITs momentarily. The fundamentals are weakening, but the REITs are up 25% since the Jan and Feb lows (based on $RMS). I am avoiding hotels as they have recovered more than 50% from their lows without any improvement in fundamentals, and I am avoiding healthcare until I know what the government intends to do. They are already a lot of bankruptcies before any additional pressure from legislation. (Even HCP felt it). On the other hand, each of these seems to easily be able to cover the dividends. I liked HT when it was at 6 a year ago. I recently sold it near 8 and hope to buy some back near 7. I am more of a trader than an investor and don't know if the hotel industries malaise will hit HT eventually. Both NHI and NHR had some weird reporting in December with FFO in the teens before recovering to normal levels. This sort of stuff raises the hairs on the back of my neck. It may mean nothing, but I don't like leaving myself exposed. Richard