I still had money on the sidelines, but didn't want to invest in equities because feel I missed out on the recent meteoric run-up. While some government numbers are indicating a turn-around for the recession, there are others saying that the commercial mortgages and exotic mortgages are going explode in the coming years. Still, I decided to put around 10% of my portfolio in a REIT thinking that this is a near bottom (March would have been a real bottom in hind-sight) and the bad news is factored in. This EFT REIT has a rather large discount to NAV, so that's attractive. It is relatively new, so the lack of history is a little scary. The really light volume makes me a little nervous too. Still its holdings are highly diversified among all the different types of REITS (medical, retail, commercial, etc.). The insiders have been accumulating for a few months now and have a personal stake. So, today I'm in around 19 (a recent 52-week high I might note). Hopefully RIF can take advantage of the real-estate wreck going forward and make a good return.
Those are my thoughts. I'd like to hear from other holders/watchers.
Well let’s see what dem RMR boyz have up their sleeves...I am guessing the dividend will be 45 cents a share. Anything below 40 cents a share would be huge disappointment. Common porky err Portney disciples...let’s see what u got...
We share your views for the future of RIF. We bought into this REIT when it was then RDR. We think the merger of several RMR funds into RIF was just the thing needed to get this fund moving in the plus column. When RDR was in the 1.00 dollar range, we bought more on 3 separate occasions. We had gone into RDR initially on 17 Sep 07 at 14.49. By buying at it's low point, we were able to improve our position and are now more comfortable owning this REIT. We exited RDR with 5000 shares. We have no doubt this fund will go up as soon as real estate gets going again. Good luck with your investments.
So, I decided to check the market today. Most of my holdings were red, but one was curiously green and up 1.6%. I'm feeling good about my RIF purchase now. It is the star of my portfolio, up 37% from November.