Commercial real estate needs a heat machine to thaw the credit freeze. The recent bankrupcy filing by GGP plugged in one machine, equity destruction, and it fueled a perverse rally. Not my choice. However, it may have been TALF talk that energized the current reit rally.
Banks & Retail are reporting better than expected. Consumer spending has increased slightly. There are signs that the economy isn't getting any worse. The dow is above 7,500, and reits are moving higher. Seems to me that all the doom and gloomers got it wrong. Time to buy is now.
Its nice to see us end the week above $6....some similar REIT's have also made big moves - CBL near $6, RPT over $10. No reason we can't continue to climb....probably some buying up to the conference call....buy the rumor, sell the news....would be nice to have a great call with continued dividend and some progress on financing/covenants....then maybe we get some buying after the news also :)