Next good buying opportunity will be the 7.00 area
I am basing this on the industry RAS is in, not on the fundamentals. In addition, I do not think IRT is going anywhere and there are much better investments around. In a normal market RAS would be trading over 8.00 now and IRT would do fine. However, these type of financials are out of favor and may get more out of favor. I have my core position in RAS and will look to pick up trading shares on a drop to the very low 7.00 area or lower. I am seeing many HIGH quality situations yielding 7 % plus getting hit, and with rates going up there is no rush to buy these situations.
I've had a standing order just over $7.00 for a while now. Hope you are right, but I don't actually expect that order to hit. As for IRT, I'll take a longer view, but suspect its price will rise to give it a yield at the the high end of the e-reit range (say 4.5%) fairly soon (by the end of the year). It is showing good numbers that are easily sufficient to pay its dividend.
I suspect, however, that we have different time horizons on this (since when was that news). All best, as always.