Back down again? What is going on with this stock? Been long this stock for some time..but to make extra income I've had great success using Option Allure and their option trades. Made 5k this week already.
Long term this is a good thing as it will raise new capital to put into play and be accretive to earnings. REITs do secondaries often as it's their primary source of expansion, so if you don't like them this isn't the stock for you. It creates short term pricing pressures but for those with a long term view it's no big sweat.
The fact that the offering was completely sold, with investors willing to pay a little over $1.1 billion has to be looked at as a good sign for the future. I've been a holder for over 10 years and bought a little more yesterday @ $36.79. That's a lot of shares/dollars to be absorbed.
Short term thinking is what prevails today with most things. Criticism of this doesn't matter since these mistakes are soon forgotten. The trick is to learn from the mistakes and get some dirt under the nails. The pros and cons of offerings will be argued forever. I've owned this thing off and on for more than fifteen years and it has helped finance two condos. Even old guys can profit from a long view.