late in 2008, SFI looked like a stock that was going to leave the smaller REITS in the dust like gkk, and crystal city, but the issue with SFI has been their management and their problems with making tough and transparent decisions. SFI is also overinflated, but still a decent longterm buy, just not my personal favorite.
gkk made those decisions by selling off white elephant hotel properties in California, and renegotiating contracts with bank properties (wachovia/tdbank especially in Charlotte and the northeast).
i still own majority of my gkk in the .80 /pps.....so i'm naturally more patient, than most investors, and have been swing trading with a few thousand shares since early 2009.
REITS are great for swing trading and would not buy now with the idea of holding for the intermediate future. if your interested in a short term pps flip get into REITS: VNO or RSO.
for the long term future: >9 months....GKK will have the most bang for the buck. i say this because the amount of shares/ dividend payouts have been historically far superior than most other REITS.
I would expect smaller REITS to revisit dividend payouts by next year! when that happens the prices we see today will be a joke.
but, please realize the pps of the 2005-2007 will not bee seen for a long time (experts say 6 years till we a full recovery in the REITS), that was once a generational bubble, and when you invest in REITS, don't look at the pps, look at the possible dividend payout!
if your a long term investor (2011 target), buy on the dips, hold and accumulate share count. when they start announcing dividend payouts you could see GKK go to 7-10pps/.20 to .30 range in dividend payout initially, and climb from their, .......IMHO)
their is going to be some pull back especially with gkk/sfi/cmi/upfc, etc, but gkk has shown some support in the 2.90's, but still think this will get rattled twds the the next 1-2 quarters just due to the uncertainty of the real estate market.
gl
