Even the shorts can't justify a price this low. AFFO has increased to .22 per quarter, even current div rate is almost 6%. Based upon continued improvement in rental of multi-family units and IRT investment, revenues have atleast flattened and appear ready to begin to improve. A stubborn economy and housing picture is good news for the rental industry--right as this company has moved it's investments towards this product. While BV has decreased some in the last six months, it is still almost 5 times current price per share and MHO is that this is excessive. I am willing to invest in a company at this point where the stock price is at $4 and the BV exceeds $19(@6/30/11). If they can stablize asset value , and I think they are moving closer to that with their debt reduction actions, this stock will easily triple--probably about a year out--all IMHO. At any rate, this stock price is currently half of wheree this company belongs based on comparisons to other real estate reits.