What are MM’s thoughts on REITS and Property stocks long term?
Dear James and the MM team, Although I knew that REIT's would be negatively affected by raising interest rates, I also thought that the market tended to price in events that were expected in the near future. I was therefore surprised at the big drop in REIT share prices on news of the interest rate hike (looked like 10% across the sector). My question is, for long term investors who are happy to hold through the cycle and like the dividend yield what would you do with shares like CLW and WPR? Keep holding or sell before the next interest rate hike? I guess that if we sell we can always buy back in at a lower price. Keep up the great work. Charles
