TSX:NRR.UN - Post by User
Post by
DanielDardenon Sep 28, 2023 5:12pm
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REIT Capitulation
REIT Capitulation When sellers are so fearful that an apartment REIT yielding >10%, with a 65% payout ratio, and the NAV/u is twice the market price, does not exceed the risks, rationality has left the arena IMO. Clearly everything related to real estate is being sold off regardless of risk.
This reminds me very much of KMP in Dec./08. Seemingly, nobody wanted to own real estate period then too without considering the future. Present day bias was overwhelming, as it is now.