12-12-2013, 10:51 AM
The balance of my GTC buy for O filled on this morning's dip. I still think that there is lots of pain to be felt by REITs in the not too distant future, but will be patiently, incrementally adding during that time. REITs are now weighted at just over 5%, still far lower than what I would call normal. That is because, IMO, the climate is lousy. For the best REITs yields are near historical lows, and higher interest rates/borrowing costs are coming in the near future. That is not a good recipe for share price stability or for earnings stability/growth.
Alex