Graphing REITs
We here at REIT Media finally had some time to get our dynamic graphing software installed and configured. We are very pleased with the results. In addition, we hope that our use of this cutting-edge technology will illustrate our commitment to sharing REIT information in creative ways.
Let us know if you have a REIT data set that would be interesting converted to a visual format. If we have the data available, we will try to make it happen.
On deck we have a new logo coming soon.
Moving forward!
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Jul.20.2007. 00:46
The Movie Transformers Starring Colonial Properties Trust 
For the past two weekends, Transformers has been the biggest movie at the US box office. The movie, based on the fantastically popular 80’s toy of the same name, has something in common this week with Colonial Properties Trust. In the movie, unassuming everyday items such as cars and fighter jets transform into intelligent and robust robots. In real life, Colonial Properties Trust just announced that their transformation is complete as well.
Colonial Properties Trust has transformed from a diversified collection of income generating assets into a lean mean multi-family dividend machine. However, I’m not entirely convinced that this transformation is not the beginning of an exit strategy for CLP management.
Say what? Well earlier this year we witnessed a similar but smaller BNP Residential acquired by the Australian firm Babcock and Brown. BNP’s former headquarters in Charlotte, NC, is now the US headquarters of Babcock and Brown Residential. Likewise, press releases filed by CLP indicate that the company already has entered into joint ventures with Babcock and Brown. It could be that BNP was simply the start of Babcock’s multi-family apartment empire, or maybe BNP was a trial-run with a smaller company to see if the Australian investment firm can successfully transition a public REIT into a private enterprise.
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Comments (1) Jul.13.2007. 22:47
udr dot com
Obviously, I can't read every REIT press release that is indexed by REIT Media. However, yesterday, my two worlds, technology and REITs, collided.
UDR, formerly United Dominion Realty Trust, issued a press release about the new UDR.com. This little piece of PR contained all of the Internet buzzwords - Web 2.0, AJAX, and RSS. Well, not only did the press release deliver, but UDR's new website delivers too. Unfortunately, the press release was unable to illustrate the simplistic beauty of the site.
To me, it seems that most REIT websites are geared toward the potential investor, but UDR produced an extremely useful web product for their customers. Props to the UDR management team for thinking differently.
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Comments (2) Jul.10.2007. 21:59
Rayonier is Out of the Woods
This month's (July '07) Smart Money has a good article about Rayonier. I like southern REITs, and I don't think we have enough REITs based in the South. Anyway, this positive article details how Rayonier is selling land once used for timber production.
According the article, Rayonier sold 6,600 acres for eight times the purchase price. As a result of these one-time sales, analysts think the Rayonier share price has the potential to surge.
I disagree that this approach to profit generation is a good decision. No only is the approach short-term, I feel that we are sacrificing timber production that our country needs. I’m much more confident with US based companies like Rayonier and International Paper managing forests than shifting this service and likewise our dependency to other countries such as Brazil or China.
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Comments (0) Jul.07.2007. 21:23
Independence Day
I've personally only owned one REIT acquired by private equity which was BNP Residential. BNP was a mid-market apartment REIT located in Charlotte, NC. Short-term the private equity acquisition was pretty good for my small investment in BNP. However, as an advocate of REITs, I'm concerned about the long-term investment options available to the public as more REITs are taken private.
On this July 4th, I would like to reflect and take a break from the private equity frenzy. As a result of this frenzy, we are sacrificing long-term capital appreciation and reliable long-term income for short-term gains. Our founding fathers took the long-view, and I would like to encourage REIT management to consider the long-view as well. Let's be completely forthcoming, when a REIT goes private the only long-term losers are the former investors.
Have a great 4th of July!
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Comments (0) Jul.04.2007. 13:04
Forbes Prints Mixed Signals on the REIT Market
The July 2nd edition of Forbes continues the excellent REIT coverage, even if the analysis is mixed. One of the cover stories is “Shorting Skyscrapers.” This article features the founder of REIT advisors Green Street, Jon Fosheim. Fosheim has left Green Street Advisors, and he now is a partner at Oak Hill REIT Management where he is shorting REITs.
In another Forbes story by Laszlo Birinyi, Jr, Vornado Realty Trust is mentioned in a positive light. This mixed analysis from Forbes is proof that the REIT market could go either way. My opinion is that investors must focus on quality and not invest in REITs that have become to popular and therefore unreal market valuations.
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Comments (0) Jun.28.2007. 21:58
Winthrop REIT Makes News and $9 Million
I don't know why, but I've always been interested in REITs that own other REIT securities. Likewise, Winthrop REIT is interesting because they own approximately 5% of Lexington Realty Trust.
Winthrop REIT is also a scrappy REIT. They were formerly called First Union Real Estate, or was it First Union REIT? Either way their old name explains their symbol, FUR. Today Winthrop announced a gain of just over $9 million on the sale of their securities in America First Apartment Investors.
So what will Winthrop do with this $9 million dollar windfall? The company didn't make any indication in their press release. The $9 million would be a good start at decreasing their $271 million in long term debt.
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Comments (0) Jun.26.2007. 23:17
