Jonathan Blumberg

Avoid Apartment REITs Now

AERO was a buy at $5? GE at $21, and now i shouldnt buy AIMCO at 5.5 when its yielding on its newly cut dividend almost 20%??? NAV on this company is in the high teens. Its down 80% and it has been selling assets which buyer can still get financing on. This stock will be back at 10 in any serious market rally.

Why Isn't Maguire Properties Buying Back Its Preferred Shares?

the preferred is finally trading at a premium to the common - wonder if there is a reason????

Why Isn't Maguire Properties Buying Back Its Preferred Shares?

How about if a holder called the compnay directly and offeres them a block?



On Jan 13 03:58 AM acctngnerd wrote:

> The preferred propectus says they are precluded from open market
> repurchases of the preferred while dividends are in arrears.

New England Realty Associates Update

correction - the dividend would go to 3.54 per share not the yield...

New England Realty Associates: Baby Thrown Out With the Bath Water

so in the most recent 13/d filing the second largest shareholder went from 8.3% down to 0% - and it says all shares were sold at 75.5 on friday 1/18/2008. So they sold 111k shares to who?? the company had just increased its buyback buy 100k shares so its obvious the company was the buyer and was willing to pay an 8 dollar premiuim to prevailing market prices to take in a big block. very interesting

New England Realty Associates: Baby Thrown Out With the Bath Water

RE companies can be valued using a gross rent multiplier - appears to me this company is trading at roughly 3.5 times rent - thats silly - so cheap.

New England Realty Associates: Baby Thrown Out With the Bath Water

Thanks KJ. a 4% management fee is very standard - I own some rental properties personally and have paid mgmt companies as much as 6%. I have never gone to an annual meeting. The company is responsive to phone calls so give them a jingle.

New England Realty Associates: Baby Thrown Out With the Bath Water

Thanks for your comments:Ill try to answer each of you.
Take it easy:I have owned this stk for a few yrs and have multiple entry points - suffice it to say that I own it around $74 dollars but have gotten 5.60 of dividends - They have been in biz since 1977 so your point about being underwater on there properties is totally unfounded.
Jurp:in there last 10-Q they had 32 units vacant out of 2377. In there most recent qtr they had 8 million in revenues (most of it being rent a small amount being laundry income)
CrossProfit:The market in Boston seems to be Ok as the company operates at a low vacany rate - but im not an expert on the economic situation in Boston