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CBRE Clarion Global Real Estate Message Board

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  • paulina5012 paulina5012 Dec 9, 2008 10:10 AM Flag

    Wow, NAV is now over $5 and stock trades @$3.44

    This sick puppy has lost a ton of it's market cap. Cheap stocks are cheap for a reason.
    It still is a little spooky that our exec mgmt. team is saying things like we should remember how well we did on our year end payouts---and now comparing their 60% div. reduction to a current rate compared favorably with Gov. bonds. This management team has to execute and perform.
    This would be like the Cub's missing out on the World Series (Again) and saying next year will be better because they are getting rid of six players, thus cutting their payroll by 60%. Do they write this stuff on a cocktail napkin??? Do threy ever consider why people buy a REIT in the first place?
    My concern is simply that IGR will stay a viable fund. IMHO

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    • The average REIT, say ICF or RWR is off well over 50% from it's peak. IGR uses leverage on top of that and additionally the dollar was strengthening further undercutting it's foreign holdings.

      If you want less volatility go with ICF or RWR, they have no leverage and no foreign stocks.

      They did better than their one competitor who matches them on fund goals, that's, RWF.

      Yes, there is still much risk, and one has to determine just how much risk they are willing to take. I've had some restless nights.

      If the market tanks in January and makes new lows, that would be very ominous. I think the lows will hold for December.

      • 1 Reply to edteekay
      • edtee /
        Good post and explanation. Here when I loaded the truck with IGR---I foolishly thought it's geography spread was it's strength---and would protect us from this,---- IGR being taken out in the back yard and shot! I could kick myself in the arse for putting my mother's retirement funds into this sicky. With a BIG name like ING behind it---what could go wrong. From 22 down to 3 that's what sucker. Geographical stability my ass. I'll start drinkin early.

 
IGR
8.44+0.04(+0.48%)Aug 26 4:02 PMEDT