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CBRE Clarion Global Real Estate Message Board

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  • edteekay edteekay Dec 8, 2008 7:18 PM Flag

    Wow, NAV is now over $5 and stock trades @$3.44

    The discount is now over 30%. This won't last. I have added greatly to my position of late. Moreover, the dollar has been declining too. I can't imagine who would be selling other than people foolishly establishing tax losses.

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    • This sick puppy has lost a ton of it's market cap. Cheap stocks are cheap for a reason.
      It still is a little spooky that our exec mgmt. team is saying things like we should remember how well we did on our year end payouts---and now comparing their 60% div. reduction to a current rate compared favorably with Gov. bonds. This management team has to execute and perform.
      This would be like the Cub's missing out on the World Series (Again) and saying next year will be better because they are getting rid of six players, thus cutting their payroll by 60%. Do they write this stuff on a cocktail napkin??? Do threy ever consider why people buy a REIT in the first place?
      My concern is simply that IGR will stay a viable fund. IMHO

      • 1 Reply to paulina5012
      • The average REIT, say ICF or RWR is off well over 50% from it's peak. IGR uses leverage on top of that and additionally the dollar was strengthening further undercutting it's foreign holdings.

        If you want less volatility go with ICF or RWR, they have no leverage and no foreign stocks.

        They did better than their one competitor who matches them on fund goals, that's, RWF.

        Yes, there is still much risk, and one has to determine just how much risk they are willing to take. I've had some restless nights.

        If the market tanks in January and makes new lows, that would be very ominous. I think the lows will hold for December.

    • 'This management has to execute and perform' - pretty inane, as if you consider yourself on the board. If you have a large loss right now, it has nothing to do with the company. I know that, and you know that, so how about cutting out the completely idiotic complaining along these lines? If you stay in, you can get more shares by investing the dividend. If you don't want any risk, get out. Nobody owes you a darn thing.

      KP

 
IGR
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