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Pennsylvania Real Estate Investment Trust Message Board

  • jacal55525 jacal55525 Apr 6, 2009 9:40 AM Flag

    It's nice to see $5.00!

    The other REITS I checked are all down, MAC, KIM, etc. The was a spot on CNBC today about Sallie Mae bringing back 2,000 jobs to Wilkes Barre, Pa. from overseas, but I don't know if this is effecting PEI's price, maybe PEI has a mall over there?
    It's funny, as I was watching the report before the market open, I was wondering if PEI might be up today on the Sallie Mae news.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Fudge Packer!! Back again?

    • Hey chubster, is your weight below 500 Kilos?

      No it isn't so shaddup!

    • Yes, low volume. Just a few sellers. Buyers will return. Watching the waves as the tide rises.

    • Well I haven't found the article....but did check the sector and SPG, DDR, MAC, RPT are all up today to various degrees currently.

      GGP is down about 10% and we seem to be racing to keep up :)

      We'll see, its been fairly low volume thus far....

    • Think about this Pulte is buying Centex. This is not a far fetched idea in commercial REITS....

    • The real estate shorts are not giving up. They are convinced CRE is going the way of housing. At least the stocks have already gone that way. I have been trying to buy a distressed shopping center. None around, at least not yet. I expect some, but the brokers I speak to are not seeing this torrent of foreclosures. Just information. I would think novice developers with new product not slanted to anchors are at risk. Otherwise I believe this is an opportunity to buy REITS at a massive discount to asset value. I even think some REITS could be bought out.

    • Correction. The article is in today's WSJ. Title is: "Landlords see jump in vacancies."

    • It is nice to see us break $5 again....and its also good as many funds have the option of investing again.

      The news of KIM raising more capital than they aimed for seems to have reduced the ultimate threat of BK for many retail REIT's......CBL is also up on no news and they were even more heavily shorted than PEI. So I suspect that there is a fair amount of short covering that is going on.....PEI has a substantial short position (think the last reported was 24%) and from the looks of things they may have some trouble getting out of their positions.

      • 1 Reply to davidbdc2001
      • Thanks as always for your informative posts. It's nice to see my IRA's are going up in value again as PEI rises, I got in PEI around $8.00, but at least I received the dividends! ADVDX cut it's quarterly dividend from .25 to .12 last month, right after I switched from APL to ADVDX, but management says it can sustain .07 monthly, but doesn't know about the special quarterly dividend, which is from foreign investment. It was just my luck to buy all these dividend investments right before they were all reduced, but on second thought, maybe it was my good luck because I wouldn't have been able to purchase the shares at bargain prices, even though I didn't get in at the bottom.

        I see APL is doing better since the JV announcement with Williams Co., I read your post that you are unhappy with it, but I wish you good luck with APL, and hope things turn out for the best!

 
PEI
19.44+0.14(+0.73%)Jul 23 4:00 PMEDT

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