Jonathan Blumberg

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