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CBRE Clarion Global Real Estate Message Board

  • sgwdjw sgwdjw Dec 3, 2009 2:52 PM Flag

    discount

    does anyone have a clue as to why igr continues to trade at a 15% discount to nav? thanks for any insight.

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    • I can't understand the discount to NAV, presently at 16%. I wonder if there has been a large overhang of stock with year end tax loss selling that has kept the stock price down.

      I view it as a great opportunity to accumulate IGR's stock. REIT's suddenly have been very hot performing stocks and the IYR reit etf is now breaking out. People are buying major reits with paltry payouts now. BXP yields 2.8%, SLG yields 0.8%, SPG yields 2.9%. Then you look at IGR with it's phenomenal 8.6% yield combined with a 16% discount to NAV and I think it's just incredibly attractive here.

      Technically, we finally moved above the 50 dma on Friday so it looks like that 6.25 major resistance that has held for 2 months is finally broken. IGR should have clear skies ahead now if the stock market continues to act constructively. IGR's NAV as of Friday was $7.49. What a bargain !

 
IGR
8.39-0.03(-0.42%)Apr 17 4:04 PMEDT

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