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

To: E_K_S who wrote (30568)	4/7/2008 4:33:09 PM
From: Paul Senior	Read Replies (2) \| Respond to of 78667

EKS, to start with, here are a few reits I have that you may not want to look at, ---I don't like looking at them anyway, <g>: finance.yahoo.com (I do have an open order though to buy a little more PCC if I can get my price.) I have positions in these: finance.yahoo.com FSP is interesting because they pride themselves on having unleveraged real estate properties. Problem is, or could be, that div. is partly based on their making real estate sales. Not such great fun in a recession or down market. Maybe LXP is worth a look for its possible safety (?) or conservative nature (?): (From its website): "Lexington believes that its focus on net-leased investments, under which the tenant pays all operating expenses, combined with the diversification in the portfolio by geographical location, tenant industry segment, lease term expirations and property type, creates predictable, stable cash flow that supports a secure, growing dividend." I am suffering with FUR which is supposedly well-managed. I have a losing position in EDR: I like their niche business which is housing for college students. I have MPW which is medical facilities. Some dividend-paying hotel reits that I have: finance.yahoo.com That's about it. (whew!)

To: E_K_S who wrote (30568)	4/7/2008 6:28:23 PM
From: Grommit	Read Replies (2) \| Respond to of 78667

BDN - I also bought some today. Here is a list of REITs with select information (yahoo info). I know it will be impossible to read, but here ya go. no mortgage reits. If I am missing any decent reits in my list, pls let me know. Price/FFO is my major criteria. Those with P/B under 1 are AMY BDN HRP AHT. P/FFO under 10 are SUI AMY CBL GRT PEI RPT MPW FR FPO BDN HRP PKY DRE LXP, and all the hotel FCH HPT LHO AHT SHO. stock symbol / forward P:FFO / yield / mkt cap / Price:Book residential AIV 11.51 6.00% 3.63B 3.62 AVB 19.73 3.40% 8.11B 2.66 BRE 17.19 4.50% 2.56B 2.76 CPT 14.49 5.10% 2.92B 2.32 EQR 16.65 4.40% 11.67B 2.40 ESS 18.75 3.40% 2.99B 3.79 HME 13.96 5.10% 1.62B 2.46 PPS 19.52 4.50% 1.72B 1.64 SUI 7.16 11.90% 377.01M 18.03 UDR 15.50 5.10% 3.37B 3.98 retail ADC 10.88 6.90% 223.90M 1.68 AKR 17.59 3.20% 826.49M 3.47 AMY 8.28 6.70% 45.83M 0.31 CBL 6.98 8.40% 1.70B 1.86 CDR 34.91 7.30% 543.33M 1.14 DDR 10.61 6.10% 5.35B 2.17 EQY 17.16 4.50% 1.93B 2.10 FRT 19.36 2.90% 4.80B 4.34 GGP 10.99 4.60% 10.21B 7.07 GRT 5.69 10.30% 461.36M N/A KIM 13.69 3.80% 10.31B 2.65 MAC 13.17 4.30% 5.24B 4.01 PEI 6.89 8.60% 1.02B 1.36 RPT 8.22 8.30% 406.87M 1.45 O 12.60 6.30% 2.64B 2.20 RSG 15.06 2.30% 5.53B 4.30 BFS 17.57 3.40% 927.50M 19.16 SPG 14.41 3.50% 22.43B 7.94 WRI 10.98 5.60% 3.12B 2.11 health MPW 9.20 9.00% 652.58M 1.23 HCP 14.70 5.10% 7.79B 2.05 HCN 13.24 5.50% 4.01B 1.92 HR 17.09 5.40% 1.43B 2.26 LTC 12.41 5.80% 606.29M 2.25 NHP 15.06 4.90% 3.39B 2.45 OHI 10.84 7.00% 1.13B 2.39 SNH 13.04 5.60% 2.31B 1.75 UHT N/A 6.70% 408.90M 2.54 VTR 15.59 4.20% 6.60B 3.49 industrial AMB 20.43 3.70% 5.40B 2.17 EGP 13.97 4.30% 1.14B 3.10 FR 6.16 8.80% 1.38B 1.51 FPO 8.91 8.50% 386.96M 1.16 MSW N/A 8.00% 195.71M 1.42 PLD 11.80 3.30% 15.90B 2.23 office ARE 15.19 3.10% 3.19B 2.28 BXP 19.77 2.70% 11.60B 3.18 BDN 7.02 9.90% 1.56B 0.89 OFC 44.56 3.70% 1.69B 2.08 HIW 12.24 4.90% 1.92B 2.17 HRP 6.71 11.40% 1.65B 0.66 KRC 14.54 4.40% 1.72B 3.02 CLI 10.87 6.50% 2.55B 1.59 PKY 9.45 6.40% 602.60M 1.60 lodging FCH 4.91 10.60% 813.17M 1.55 HPT 6.90 9.10% 3.19B 1.32 LHO 8.80 6.40% 1.26B 1.23 AHT 4.44 14.00% 727.07M 0.57 SHO 5.47 8.10% 1.03B 1.10 mixed DRE 8.51 7.80% 3.56B 1.80 LRY 10.65 7.00% 3.19B 1.73 PSB 11.71 3.20% 1.11B 2.61 CLP 11.29 7.70% 1.20B 1.06 NNN 10.99 6.10% 1.68B 1.27 CUZ 21.41 5.40% 1.38B 3.99 LXP 8.99 8.90% 909.42M 1.61 VNO 13.90 3.80% 13.73B 2.60 WRE 13.82 4.90% 1.61B 3.29

To: E_K_S who wrote (30568)	4/8/2008 3:58:32 AM
From: Area51	Read Replies (1) \| Respond to of 78667

NRF is selling at 1.5 times last quarters book value, but is still selling at a discount to next quarters book value. From the latest earnings release. biz.yahoo.com <<At December 31, 2007, diluted book value per common share was $5.70, and undepreciated diluted book value per common share, pro forma for a preliminary estimate of adopting SFAS 159, which NorthStar will adopt in its first quarter 2008 financial statements, was $11.00. This estimate is based upon fair values as of January 1, 2008 and will more properly reflect the economic value of NorthStar's assets and liabilities. Prior to the adoption of SFAS 159, NorthStar marked its securities assets to market but was unable to also mark its liabilities to market.>> Are there other opportuntities like this where stated book value may provide a good chance to steal some cheap shares? Wall street: you gotta love their ingenuity <g>. Best Regards, A51