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

To: E_K_S who wrote (46023)	12/20/2011 11:11:53 PM
From: Sergio H	Respond to of 78476

Thanks EKS. Maybe the show you saw was on Rock Central, about the boom in North Dakota. rockcenter.msnbc.msn.com Thanks for IRET. I will check it out. Happy Holidays to all.

To: E_K_S who wrote (46023)	3/17/2012 11:18:32 PM
From: Sergio H	Read Replies (1) \| Respond to of 78476

Hi EKS. A few notes on IRET as they reported earnings last week and came up a little short on EPS and revenue. Their apt. segment was the best performer and their office segment was the worst. As of the end of 2011, only 26% of IRET's folio consisted of residential holdings and by the way, only 15% of their folio is invested in North Dakota. http://www.iret.com/acquisition.aspx Of the five analysts following the stock, one lowered their rating and one maintained their buy rating. I do not know what action the other three took, if any at all. Prior to the earnings release, D.A. Davidson maintained its Buy rating and $8 price target. In the report, D.A. Davidson states, "We believe that management will spend time on the conference call discussing the company's real estate opportunities in the Bakken region of western North Dakota and eastern Montana. Many experts believe the Bakken oil play, which is roughly five years in the making, is still in its infancy." http://www.benzinga.com/analyst-ratings/analyst-color/12/03/2401570/d-a-davidson-maintains-investors-real-estate-trust-buy-8#ixzz1pQoSl0dS I listened to the conference call and IRET management declined to give details as to their plan other than to say that will be selling and aquiring property and that the sale of property would not be sufficient to fund their planned acquisitions. They recently sold some medical space and acquired multi family apts. in Minn. Since every analyst asked for more clarification and the question was avoided, it appears to me that management has a strategy that they are not ready to reveal. In June of last year, IRET's shopping center in North Dakota was flooded. Tennants are returning: http://minotdailynews.com/page/content.detail/id/560714/Marketplace-Foods-will-return-to-Arrowhead.html Last month an IRET owned apt. building was destroyed by fire. http://minotdailynews.com/page/content.detail/id/563307/Apartment-building--destroyed-in-Minot-fire.html http://minotdailynews.com/page/content.detail/id/555889/Growth-adds-value.html IRET will report insurance payouts for loss of income from the fire and the flood in a subsequent q. In their 10 q they reported that their new construction in N. Dakota has already been sold out. They recently signed a new tennant for office space in Minn. finance.yahoo.com The dividend is on the high side compared to its peer group and the balance sheet is clean with debt maturity structured away from the near future. IRET is a play on the improving economy in the communities where they are invested and also confidence in management's ability to improve the portfolio. I'm in. After the earnings release, one analyst raised the price target to $8.50 .. "An improvement in overall commercial office leasing is yet to be seen as larger users continue to reduce space as they focus on controlling costs during a tepid recovery. However, management noted that it is seeing a pickup in leasing activity by new businesses, as well as existing small non-public businesses." benzinga.com