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Cohen & Steers Reit and Preferr Message Board

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  • dclewis12002 dclewis12002 Apr 10, 2012 12:08 PM Flag

    Undervalued

    Check again. It was 20c/mo, now it's 30c/qtr. There is no such thing as a persistently undervalued fund. If a fund is selling at a chronic discuont there's a reason knowledgable investors are avoiding it. Your bet is that you know more than knowledgeable, and often professional, investors - good luck.

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    • David-Thanks for the thoughtful correction. Guess my age is showing (brain farts). You have caused me to rethink and while I think I will continue to hold, I believe the stock will go up only based on an increase in the dividend or material changes in CRE worldwide. Again thanks.

      • 1 Reply to rollnon
      • both an increase in the dividend and a recovery of commercial real estate will help this stock, but presently the net asset value is over $17 per share so that should also help it.

        What happened a few years ago was this fund was also a victim of the credit squeeze. It had preferreds out and when the value of its investments dropped, due to convenant requirements, they had to be redeemed. No financing was available so assets had to be sold at low prices to redeem those shares. I believe that issue has been removed. But you need to do your own due diligence.

 
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