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Strategies & Market Trends : Have REITs begun a rebound 9/16/98 ??? -- Ignore unavailable to you. Want to Upgrade?

To: Lee N who wrote (21)	10/14/1998 10:41:00 AM
From: gregor	Read Replies (1) \| Respond to of 45

Lee: I feel that the REIT's have been unjustly punished. There is no way of knowing how earnings will be affected next year but you can bet your bottom dollar that in 5 years it will not matter if you have missed the bottom by 5% or 10%. I am now in junk emerging mkt debt( 14% yields), hi yi bonds, russells 2000 index, reits, and I will round out in a few days with oil services mutual funds. How much future is there in 4.75% 30 year bonds?????? gregor

To: Lee N who wrote (21)	10/14/1998 1:32:00 PM
From: Wren	Read Replies (2) \| Respond to of 45

REITS started a rebound and then settled back. The hotel REITS are being beaten down. Look at the yields on PAH, upper end hotel owner, and MT, owner of medical properties, LaQuinta Inns, Cobblestone golf, and Santa Anita race track. I bought more MT today. Just can't pass up that low P/E and high yield. EGP is an industrial and office building REIT that I like. I know the management personally. It is a conservative operation. Doesn't yield as much as some of the battered down ones, but it should grow over the years.