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Highwoods Properties Inc. Message Board

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  • frank100_20012002 frank100_20012002 Oct 23, 2002 5:36 PM Flag

    Kpa preferred a

    aokreit, I agree with you about the changes in the travel and lodging industries. The world has changed and it's not just domestically. I suspect the people in Bali would also agree. They had a great turism business until the recent bombing. Bali was Australia's playground. But that's over.

    I was sorry to see KPA take a hit after 9/11. KPA is one of the few companies that the average investor can call and speak with the key people.

    Also agree with your assesment of PSA preferred and KIM. I did very well with PSA-G until it got called. I think KIM has really good management. If it gets to 26, I'm a buyer. I had a buy order in for KIM-B at 25 but after a couple of months I gave up. The B shares are past the early call date so I don't want to pay more than par. I also like WRI if I can pick but it at 32. I wish there was a mutual fund that held only REIT preferred shares. A well diversified preferred REIT portfolio works for me. Good investing to all.

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    • I like pfds, but they do get called early when rates stay low. I don't like not locking in a rate. I don't expect rates to increase until and unless the govt wants to work their way out of a defation, and defation is not likely to be a problem for a while yet.

      KIM at $26? Maybe! I'm looking for $27.5 -28.

      I noticed you didn't mention PLD, but mentioned WRI. WRI is another gem IMHO. One thing about a bear, sooner or later the gems get tossed out too. I wouldn't be surprised to see WRI at $32, but for the patient I think there may be a shot at closer to $30.

      I'll bet when the nothing down, and "Community Reinvestment Act", sfh bubble bursts there'll be plenty of gems to choose from at give away prices. While it's happening, I'll also bet, the self-storage business will look very good at a time when not much else will.

      There is time yet, but I'm often surprised at how fast events unravel. The time cycles, it seems, are always accelerating. That's a spinoff of globalization. I'm surprised, for example, at how "super fast" Chinese goods are displacing everything. I just returned a pair of Rockports when I noticed the small and not to easy to detect "made in China" label. Don't look and you'll find yourself in a rickshaw when you expect a cab. Oops! That's politically incorrect. How insensitive of me. Oh well!

      Better quit while ahead.

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