Morgan Stanley Downgrades mREITS, Likes Hybrids Better
One thing they didn't mention is that hybrids will begin [have begun?] to steal investors from agency MREIT's. This will have the effect of driving up the PPS further. I think the hybrids yield will come down to about 12% [maybe less??] due to demand driving up the PPS. I'm up about $2.50 now, and that could go to $10.00 in less than a year if the divvy is increased by 15% next year as Morgan speculates. If that happens, by the end of 2013, my 63,500 shares will have returned $1 million for cap gains and divvies combined. Beats working.
P.S. Had a great time at Enchantment in Sedona, AZ and the Biltmore in Phoenix. Happy to advise if anyone is going there.