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Alpine Global Premier Propertie Message Board

  • specsit2000 specsit2000 Jan 13, 2011 5:22 PM Flag

    Cash or Stock - That is the question...

    My mind has gone back and forth on this decision as I am a "cash is king" type of investor who is being asked to choose one or the other for the Y/E 2010 extra dividend.

    I finally surprised myself and chose stock primarily for two reasons:

    The NAV of AWP shares is 8.40 and the stock is selling for 7.04. Because of this discount from NAV, the stock is simply a better value by about 16%.

    Now, stocks fluctuate, and I may be sorry at some point that I did this.

    But AWP originally went public @ 20/ share and placed investments in about 80 countries when I last looked. So AWP's future stock price is dependant on the outlook for the real estate involved with those investments, NOT on the outlook for interest rates. Most RE income funds are heavily interest rate dependant.

    As I think interest rates have nowhere to go but up as the global economy recovers, that did it for me.

    And thanks, hacker, for your post.

    That was helpful to me.


    I am long AWP.

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