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CBRE Clarion Global Real Estate Message Board

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  • edteekay edteekay Jul 2, 2008 2:47 PM Flag

    The only message you should read

    If the dollar ever rallies, it's possible the dividend could be cut, but not much. Likewise it's possible an odd company in their portfolio could cut or eliminate it's dividend, but not many. If either or both of these events take place and the dividend is cut, I doubt it would be more than 10 or 15% max and it's yield while lower would still be outstanding at 8+% based on today's price.

    Well one more uncertainty is the amount of interest they have to pay on their use of leverage. Generally interest rates are low, but how in particular that relates to what IGR has to pay is unknown to me. Can anyone help with this?

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    • i am not disagreeing that the div is at risk. I just dont know what a rallying dollar has to do with it. IGR has been high teens or better with the same div with a stronger dollar. sooooo, whats the deal? Perhaps money is getting out anything that has real estate in its name. sometimes things are that simple.

      • 1 Reply to powerbeatsforce
      • It's an international fund, hence, if the dollar rises, the dividends from the international REITs in the portfolio fall in terms of dollars. Since we get our dividends in dollars, a dollar rise drops the foreign dividends and IRG would not be able to pay out at the same rate. However, it's a minor effect. On the other hand a rising dollar, would be an adrenolin shot for the world economy as a whole. Unfortunately we've been printing dollars at an unprecedented rate to support wars and simultaneous tax cuts, so don't look for a big dollar rise any time soon. Perhaps just a a modest rally at first.

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