After market open there was a small pull back from premarket lows and I decided to get out and become an observer of events. I truly don't understand what is going on with earnings and why they are declining because I don't have the patience to dig into the details. All I know is that lately there are a lot of other sectors in which I have been making more money in a few months than I make on these things in a year. So I decided to reallocate. It was more of a recognition of greater opportunity elsewhere than a condemnation of the mREIT sector. It just seemed like there was lower hanging fruit elsewhere, for now. Of course that could change. Basically I’d rather have my money invested in a stock that is not forcing me to reevaluate the wisdom of holding it based on recent events. I like to row downstream in other words.
Of course is there are clear reasons given as to why these lower earnings are a one time event then I will reconsider.
I dumped ALL my Reits several weeks ago to lock in the profits I had made in MPW, OHI, SBRE, SNH, HR. Over a period of 6 months I had an average gain of 50% as investors piled in for the nice dividend. Now the money is gathering dust until next opportunities show up.
If they show up...maybe I'll add to RDS.B, TOT, BP, SDRL, etc
Listening to the CC I had a feeling that there were a lot of individual investors that would sell rather than try to figure out the terms. Good luck!
By my calculations AGNC is about 2% over present BV. We could get another dump on monday's open as even less attentive individuals bail out. I will put in an order around book and one below. I wish I hadn't held through the earnings call, but it looks like a buy from here.
Raybans , I somewhat agree that my REIT days are except for quick surgical trades. I had a bad feeling yesterday and sold all REIT and BDC except MAIN which I just bought on the bottom. I also think there is more trouble ahead for MREIT, REIT and even MLP. In Obama nation anything can reel :)