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Strategies & Market Trends : REITS - Buying 1 - 2 weeks before going ex-dividend -- Ignore unavailable to you. Want to Upgrade?

To: Richard Barron who wrote (1339)	5/12/1999 1:34:00 PM
From: zebraspot	Respond to of 2561

quote.yahoo.com IMO, this Walden Pfd.S is one of the best buys (left) among REIT preferreds - yielding north of 11% --and going ex-dividend in another day or so--, this is one that hasn't yet rallied. It doesn't trade much, so I'm guessing it's just an inefficient market at work here. If anyone has any negative info on Walden - which might possibly explain why this senior preferred stock is yielding a point or two more than it's counterparts - I'd appreciate hearing from you.

To: Richard Barron who wrote (1339)	5/14/1999 9:28:00 AM
From: George T. March	Read Replies (1) \| Respond to of 2561

Most of my Reit stocks looked to be making some sort of a top in here. I don't think that it's anything more than an intermediate to short term correction, but I like to sell something just to keep the discipline and to have some cash available for buying the dip. Sold the CTR and a few insignificant others. Did buy MT, as I like their plan which they executed without tormenting too much about the taste of the punishment including paying 25 mil to the ex-pres. I don't think it has much downside as the chart looks good. Got and read the annual report for OFC which I was surprised to find is the same people who made FR and TRI successful reits, namely Jay Shidler. Again, the base looks to be in and solid on the chart and it would be nice to see it back and fill to the $8 level in this correction. It is well followed by the street with BT Alex Brown, CIBC Oppenheimer, DLJ, Janney Montgomery Scott and Johnson Lemon following most with BUY recommendations from lower prices. One stock that did not participate in this reit rally is COPI, the Crescent Operating company. If anyone is familiar with the fundamental of the company, I would appreciate any info. Thanks.. George

To: Richard Barron who wrote (1339)	5/18/1999 3:56:00 PM
From: gregor	Read Replies (1) \| Respond to of 2561

Richard : We have a classic case of buy on rumor (whiff of inflation ) and sell on the news. ((confirmation by the Feds of a tightening bias )). All last year we bucked the trend of lower rates but then were redeemed by the latest rally. A 315 on the rms is no sweat IMO and will see it this week if ever. A 310 is a more serious intermediate test but still confirms a bullish bias and a retest of a 350 rms. Gut reaction is that we not get a suckers rally but an entrenchment and confirmation of a bullish trend. Say we are getting a wiff of inflation; no other place I'd rather be than in REIT's. Historically they do well into the third fed rate increase and we haven't had our first yet; only a tightening bias.........