I am so glad someone asked about the 30% plus drop in NAV this year. I thought I was missing something. In order to know if this is a good entry point, I guess I would want to know what specific properties are held and managed. Then I would want to see comparisons with similar properties in each local area. I would want to see the market price trends of those properties, and how those compare. I would want to know the tenants and assess their longevity and quality.
There is a complex of new gorgeous buildings in my area built by a subprime lender . Some is rented out to healthcare providers and some housed the subprime lender that went bankrupt a few months ago. "Let's be careful out there!"
I would probably want to go take a look at enough of the properties to get a real life sense and evaluation as to the quality and location of the properties. I would need to see local vacancy rates, etc. from realtors... I would want to talk with tenants and passers by on the street to get information as to problems and the quality of management. You get the idea. It's a lot of work and can be quite rewarding. Failure to do that is looking for further trouble, even disaster.
I don't have time to really do all that. Perhaps if enough of the members of this forum would discuss their evaluation of a property held by this REIT in their area, we could put together a picture of the likely future of the NAV. If they have property in Tucson I am willing to do a little legwork here. Does someone have a URL listing and hopefully description of RNP's holdings? I have to send this before looking myself.
Hope is not the answer. "Trust but verify!" Getting information and sharing it could be a productive use of this forum for all of us.