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Strategies & Market Trends : Commercial Real Estate tic.............tic,,, -- Ignore unavailable to you. Want to Upgrade?


To: Smiling Bob who wrote (208)4/22/2009 6:35:51 PM
From: Perspective  Respond to of 442
 
At a price of $33, that puts them at about 25 times earnings. And yes, I think GAAP earnings matter again. The only reason REITs have gotten away with FFO and ignoring depreciation is that real estate always goes up, and that more than makes up for depreciation. It's a whole different ballgame in a flat market. And it's a darned good thing real estate doesn't ever go down. <s>

`BC