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Are REITs Overvalued?
Having gained on average 12% this year, and 17% annually over the last five years, some investors are nervous about the future prospects for Real Estate Investment Trusts (REITs).
Indeed, in April, 2004 REITs suffered a 13% one month decline on fears of rising interest rates. That was the worst one month loss in more than two decades. Valuations have skyrocketed as well. Now, REITS on average trade at about 13 times their cash flows, compared to 11.5 times over the last 15 years.
Source: Wall Street Journal, September 17, 2004
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Free Opinion
Sponsored by James J. Eccleston, an attorney representing stockbrokers, financial planners and
investors nationwide in arbitration, litigation and regulatory matters, and a shareholder with the law firm
Shaheen, Novoselsky, Staat, Filipowski & Eccleston
P.C.(www.snsfe-law.com). This Web site contains material
of general interest. It is neither intended to, nor constitutes, either legal advice or investment advice.
Always consult an attorney and/or investment advisor when building and protecting your wealth.
All content Copyright © 2008 Advocate Capital Management, Inc. except where noted. All rights reserved.
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Telephone: 312-621-4400 | Fax: 312-621-0268
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