PAST TOP PICK
(Top Pick Feb 12/09, Up 34%) The only REIT that increased their distribution every year despite the financial crisis. The best REIT in the country.
DON'T BUY
Hotel REIT. Diversified. Limited service hotels. If recovery takes hold and there is an up tick in tourism and wages and GDP, the lodging space should to well.
BUY
Favorite US REIT. Great balance sheet, sustainable payout ratio, and great mall assets. Done tremendous job of retaining tenancy. Not a lot of exposure to co-tenancy. Family run.
DON'T BUY
CEO of Smart Centers (24% stake in Calloway REIT) sold assets to RMM and took back a stake. Thought was he would transform RMM. But it does not have same quality of assets, diversity or mass as Calloway. He is skeptical. He bought the convert.
BUY
(Market Call Minute) Buy in $10-$11 range. Good name.
BUY
(Market Call Minute) Buy in $10 range.
HOLD
(Market Call Minute) Wished he had held on longer.
WAIT
US REIT. US REITs are pricing in a pretty strong recovery. If recovery was 3% GDP growth, REITs would still be trading at about 10% premium. Look for it to pull back 5-10% before buying. They’ve sold assets and cut distribution recently. They’ve cut back on merchant development. When the dust settles, there will be an opportunity to buy 5-10% lower. Buy in the 8’s