I think that as stock hits the 8-8.50 range, likely that another offering will take place. Proceeds to pay down some of the debt. My guess is that last two quarters of 2007 results will push this stock into double digits.
I agree about the future dividend hikes, being modest, however a series of modest ones like the one today, become substantial... IMO, the inrease in revenue and FFO after the pending acquistions kick-in will drive the price higher. Investors will look at the capability of the stock to support dividend and likely growth of the dividend as well as the current dividend.