It's the accounting change. Miniscule change, but the kind of thing a market full of 5 year old children chasing hot money react to very negatively. Management didn't manage the release of that information inthe best way. Personally I don't care. - this is a temporary sell off.
agree that the change in accounting for maintenance cap ex is a small change and relates only to how these charges are expenses over time or in the current period. Trivial.
there did seem to be reaction in the cc relating to the pace of new or upgraded lease term, which mgmt. stated was on track after a busy early July...but market is focused on very short term items.
What's going on is a VERY NEGATIVE ARTICLE IN BARONS. Instead of giving guesses (or worse listening to people who have no idea what is going on, but post here anyway),I suggest you read the Barons article and the conference call transcript.
I think they're looking at whether some of these new entities qualify as REITs. I doubt that those who have already qualified will be suddenly "disqualified". IRS is already in enough trouble and would get another black eye if it did something ham-handed here. DLR does own real estate and a lot of it. I'm looking at it and might nibble once the selling and shorting dies down.
Reit week started today--going to put the lie to the shorts. Shorts jammed it down yesterday so as to cover before the divy run started. The timing was what confirmed my thoughts that the short wouldn't hold. Sooooooo glad I bought some under $59 this morning. Great price for a blue chip reit.