Canadian Apartment Properties Real Estate Investment Trust T.CAR.UN

No bottom ?? any feed back ??

[Venture100]

Does this stock not have a bottom? My 10% profit gain in two months on my portfolio has been wiped out by this stock. I hold thinking it has to stop dropping but their is no end to the sell off. Interest rate pressures, sell off from the buyout offer, possible selling from pension funds that were over the 1% cap limit and now a truly lousy 1st quarter. They talk about resreit being an accreditive acquisition that could mean a payout of $1.35 annually. With the type of quarter they just had I do not see how they can even maintain the distributions they have let alone raise the payout, or is their just some tricky accounting going on so someone can capitalize on a rebound in price? A payout ratio of 118% is absolutely groteque. Check out the operations of SCI.un, FMO.un and NWT.un for trusts that are doing it right. ( FMO.un is suffering from a sector down grade and this should be considered if purchasing). Should I dump this stock. Any thoughts on whether all of the $170 million for the buyout offer will be taken in the buyout offer. Consider that if holders took 1.21 units of CAPreit stock instead of cash that every $30 million left in the fund could yield a special dividend of 1 dollar per share. I am almost ready to dump and move on. Selling could continue because of the lousy financials but Goodales suspension of the Trust cap on pension funds could bring major players back into the market by Wednesday. Any feed back???