RE:RE:RE:All about the debt It isn't my first rodeo. No REIT on the planet is getting "preferred rates " right now in front of a global recession. Give your head a shake. Take a look at the TED spread and yield spreads across the curve.
And yes, I have gone thru their financials . $2.7 b in total with converts at $391mm, Corp debt at $250mm and rest mortgages. I see their repayment plans, but part of that involves completing Aussie sales.
Why do you think REITS have been so hammered? Because debt is getting repriced. If they want to put more mortgages on properties (due to lower rates than corporate and thru necessity), then corporate debt holders become 2nd lien which means what? That the corporate debt needs to be repriced . Have you noticed what is happening around the world?
Anyways, try to be polite on these boards. A know it all wouldn't be passing his time on this board if he/she was wealthy from investing.