I bought GRT in early 02 for 18.64 and just left it alone. I bought it because I was in the Jersey Gardens Mall and liked it and saw that it was in this Reit. Now 5+ years later we ara back at 18 and I am wondering if anyone has a comment or opinion on this stock now? I think the dividend has stayed about the same so I now have about 10 back and its in my IRA so I have it all. What do you think? The mortgage mess will get worse, in my opinion, so retail spending will be reduced. Interest rates will keep dropping in the near term, but they have to rise again, you can't keep plugging the dike with toothpaste. Should I stay or go, or buy more?
I think this is a good buy price,but I am not sure of the dividend,they have sold most of thier community centers and they may be bettering things,but most of us just don't know,it's a big unknown right now!
GRT is down with the rest of REITs. The dividend does not look too safe to me, as it consumes nearly all of the FFO. My guess is that the dividend will stay as is, but there's a substntial risk that it will be cut significantly.
Problem with this reit is leverage. They use too much debt which is 87% of total assetts. With only 13% equity they are vulnerable to to the slightest pick up in vacancies which will reduce their bottom line significantly. the market knows it and it makes the adjustment by taking the price down. Compare that with a reit such as nnn who only has 45% debt of total assets. NNN is only 8% off all time highs.