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Colonial Properties Trust Message Board

  • zelexx zelexx Oct 27, 2004 2:34 PM Flag

    A TCR shareholder asking this board:

    i am now in the process of checking out clp, having no experience with it until now.

    Could anyone here offer me a paragraph argument why i should roll my tcr shares in clp and not just sell out and redeploy funds into another reit.

    thank you!

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    • What better place to put funds. Diversied, safe, trac record of increased dividends since early 90's, trusting board with southern integrity not your typical wall street slicksters, with great dividend investment plan. Owned since beginning. One of my best performing holdings.

      • 2 Replies to baltzellman
      • It's done nothing for a year while the RMS has gone up 30 percent. You could have bought virtually any REIT in the universe and done better.

        Over the longer period, it has tracked the RMS, before falling short in the last year or so. Not bad, but nothing to crow over.


      • I doubt that TCR investors will approve this deal. And I doubt that it makes much sense for CLP either.

        The best that can be said for this deal is that it shows that Knight knows when something is good for him personally and that CLP knows that Knight is screwing his shareholders and that might mean that it is a good buy for CLP. But I suspect that after owning TCR for a while CLP investors will be quite sorry their management was so gullible.

        A bad deal for TCR investors and the beginning of the end for CLP investors. Misery loves company.

    • I work in Huntsville, AL, where CLP owns 5
      properties, and have visited CLP properties
      in Birmingham, Decatur, and Auburn, AL. Based
      on the high quality of the properties, I'm
      happy being a shareholder.

      CLP is a substantial developer, rather than
      just a buyer of real estate - they have
      re-developed several malls, and built
      properties from scratch. They also manage
      properties for others. They have a strategy
      that shifts their balance among retail/office/
      apartments according to how the economy is
      doing. Since interest rates are going up,
      they are shifting to more apartments - I assume
      because it will make home ownership more
      expensive and thus drive demand for apartments.
      Occupancy is in the mid 90% range, which is
      about as good as can be expected.

      I'm close to retirement, and I'm not looking
      for huge growth so much as inflation-protected
      dividend income. Since rents should rise with
      inflation (in general), owning CLP fits my
      needs. If your investment goals are different,
      it may not fit your needs as well.


      • 1 Reply to DanielRavenNest
      • I live near Myrtle Beach and have frequented the mall there owned by CLP(Colonial Mall in North Myrtle Beach, SC). It's a nice property in a great location. Myrtle Beach is growng like the property is a valuable asset I'm sure. The Carmike theatres there in Colonial Mall are very busy and popular. The mall is located not far from 'The House Of Blues' on Highway 17.