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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: maverick61 who wrote (27042)	6/8/2007 6:12:03 PM
From: Wallace Rivers	Respond to of 78464

I'm certainly not an expert, I would just add my two cents. You probably already know this, but if rates back up (as bond "guru" Bill Gross thinks they will), that magnifies the chance that the REIT sector will decline IMHO. Both of your choices are relatively alike; if you paste one over the other on a five year chart FPO is a better performer, on a two year basis BDN slightly outperforms. I like BDN's bigger size and price to book better. BDN is better diversified geographically than FPO, though not by a large degree. That would help in a geographic specific downturn. Hope this helps.

To: maverick61 who wrote (27042)	6/8/2007 9:22:42 PM
From: a128	Respond to of 78464

Im no REIT expert. But I own FSP,FUR and CBF as well as closed end fund RTU. More insider buying in CBF.... 06/08 10:48:57 CBF Insider RAYMOND E WIRTA[Interim CEO and President] BUY 39,000 at $12.89 on 06/07/2007 [Tot:254,621]

To: maverick61 who wrote (27042)	6/8/2007 10:30:52 PM
From: Grommit	Read Replies (1) \| Respond to of 78464

REITs I agree that MPW is now overpriced, but I still own some. Actually almost all reits are overpriced right now. One simple thing to look at is Price/FFO. I used to do a lot of studying of Yield vs. Payout Ratio -- graphs and mathematical analysis. It has served me well. But then, silly me, I realized that when you get down to it, Payout Ratio / Yield is equal to Price / FFO. 1. Payout Ratio = Dividend / FFO 2. Yield = Dividend / Price So Payout Ratio / Yield = Price / FFO. So, among other things, look for a high yield and a nice low Price/FFO. Four particularly good REITs right now are FR HPT HRP SUI. I check around 80 reits every few months, looking for deals. cheers, grommit

To: maverick61 who wrote (27042)	6/8/2007 10:45:57 PM
From: Paul Senior	Read Replies (2) \| Respond to of 78464

No expert here either, and I've no strong feelings about the sector. Just coincidentally to your FPO post today though maverick61, I added a few shares to my losing FPO position today. I like FPO because it's in that Washington DC corridor, and with government spending I'm hoping the gov't-work businesses that might use FPO's properties will do okay, and so FPO too. Other positives for me are that Davis Select Advisers is a holder (according to Yahoo), there are some small recent insider buys, and there's the dividend yield (5.5% which is relatively low compared to to past years for property reits, but it's comparable to similar reits now. In 3/26/07 @ 28.82 Add: 5/8/07 @ 26.16 Add: 6/6/07 @ 23.79 Current closing price: 23.79 I'm also with a128 by holding shares of FSP, FUR, CPF. I still have shares of EDR & GCT in the college apartment business. I recently posted I bought RIT, a closed-end real estate income fund. One of its top ten holdings is BDN, which you mentioned, and another is HRPT mentioned now by Grommit. tools.thestreet.com{575FE2DE-2B85-4BFC-A45B-C6E4B320DF4D}&symb=RIT&sid=2442602&orig=1&timer=