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Neuberger Berman Real Estate Se Message Board

  • hasselmeyer hasselmeyer Oct 27, 2008 3:39 PM Flag

    Actually this is getting ridiculous...

    ...with NRO off 16% again today while the rest of the market marks time. This certainly can't go on efor too much longer...not much left to go down any further. Have to wonder if there is not some underlying reason for NRO to be draining off like this while everyone else is fairly stable.

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    • I suppose one could say I am saying this after the fact, but I think one could have predicted today's action from the start. Fri discount was very small <2%. Of late the discount has been closer to 15%.

      I will go on record that unless there is some sign the REIT market is just having a great day this will close down. Once again I make the prediction based on the discount is currently too small. I have it about 9.4%.

      • 1 Reply to kahe_us
      • This looks like a death spiral. I would not be surprised to see several lawsuits starting up against these guys. I taled to IR today and what piqued my interest (in addition to the deleveraging) was that the former fund manager had opted "to pursue other interests" so the two guys under him were now running the fund...the assurance being that they had a handle on what was going on there. That doesn't sound good...."leaving to pursue other interests?"

    • <Have to wonder if there is not some underlying reason for NRO to be draining off like this while everyone else is fairly stable.>

      Huh? Everyone esle is fairly stable?? Look around: GKK is kissing 80cents; SFI just touched $1; CRZ, AFN & CBF are stuggling to stay above 60cents; NCT, JRT & AHR in the $2s; RAS, RSO & ABR in the $3s; etc etc etc. Many of these companies, some of which NRO have or had positions in, traded in the $15 - $20 range not too long ago.

      NRO is trading where it should be given the SPs of the typical companies in its portfolio. The question is have we witnessed a permanent, across the board destruction of value, or a transitory loss of confidence caused by market panic. Time will tell. Hopefully, we get some relief from the withering selling this week after the FED hopefully cuts rates again on Wed and the TARP program starts to pick up steam.

    • hasselmeyer, that name rings a bell......was it MPW??

    • I was wondering the same. It sure would be nice if management would set up a town hall meeting where stockholders could call in, and ask questions regarding the status of the company. The lack of information for a company to be in a free fall with no word from the top makes you wonder if someone is minding the store.

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