Ferdiefor, I think this might be it..We may break 52 week high tomorrow... As for a 5 year hold, I have mixed emotions..Although i love GRT's yeild, If it gets near $17, I am going to think about selling..I think we have good potential to make a run and could even go as high as $20, but at that point I'm looking at almost 70% profit plus dividends..
I don't think you can go wrong holding on..Even with us at 52 week high, we are still lookin at a 12.25 Yield...Good safe money..But as wek approach $20, you will be under 10% yield and pushing 2 year highs..
Don't get me wrong..If GRT continues to show that it isn't going to back off, I'll hold..But if it shows sign of weakness or a top at $17-$20, I'll give some serious thought to moving on...
Shoot..70% gain+dividends would make me more than happy.... Looking for $17 possibly this month....An upgrade by a broker would be good for a $2-$3 pop in no time... Take care..Congrats on our profits!!
At $20 I would have to give serious thought to letting it go and wait for another cycle downturn to move back in.
At this point the REIT market for the most part seems rational in terms of pricing these REITs on a yield basis. I'm not talking about underlying asset values, NAV or any of that other stuff that REIT mgmt's would love us to focus on in an attempt to have another wild runup of REITs ultimately crashing out at some premium to NAV level.
With the exception of the highest profile REITs selling at premiums to NAV most of the market remains comfortably below (to my way of thinking which I concede is a minority viewpoint and not much liked viewpoint) their NAVs.
If GRT were to get to $20 one has to wonder what market conditions allow for that to occur. It already is a 10% FFO grower that appears on the surface to be unappreciated simply because it is not in SF, NY, Boston, Atlanta, etc. If not market conditions then where is the rest of the REIT market priced in order for GRT to hit $20?
Thanks for your thoughts and I am very happy with what I have made near term and like my yield better.
What about dividend growth? Do you see a dividend increase next year? How are they avoiding dividend increases for so long?