New England Realty Associates NEN

February 27, 2007 - 11:58am EST by

member

						2007	2008
Price:		89.75		EPS
Shares Out. (in M):		0		P/E
Market Cap (in $M):		118		P/FCF
Net Debt (in $M):		0		EBIT		0	0
TEV (in $M):		0		TEV/EBIT

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6	member 3/21/07 1:19AM I Disagree
Real estate prices are driven by local economies. You can’t make broad brush comments and assume the correction will happen indiscriminately across the board. The Northeast markets have not seen the level of... login to read the rest view available tags
5	member 3/05/07 11:47AM Also agree
There's a word that applies when cap rates fall below cost of funds, and it's not "bargain". There's a record 2+ million vacant homes for sale. As the real estate bubble deflates those homes either get... login to read the rest view available tags
4	member 2/27/07 5:28PM agree
I agree with Beech. Being short a basket of the multifamily REITs which are trading at all time high multiples, all time low implied cap rates, very low dividend yields, etc. seems like a... login to read the rest view available tags
3	member 2/27/07 5:11PM I remember the days when you c
I remember the days when you could buy high quality apartment buildings for 8-10% cap rates. Sometimes higher. The smartest real estate people I know are unloading their apartment holdings to the insurance companies as view available tags
2	member 2/27/07 1:23PM Cap Rates
The average cap rate has moved down 100bp in the last year to 5%. This decline is reflected in the price of EQR, the largest public apartment landlord, and not in NEN's share price.... login to read the rest view available tags
1	member 2/27/07 12:56PM Cap Rate Question
Pirate, I understand that relative to its peers, NEN could trade closer to its peers, but how does a 4% or 5% cap rate compare to prior year? How sustainable are these low cap rates? David view available tags

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