In addition, the REITs pay dividends, which many high-tech companies do not. During the recent turmoil in the stock market, many financial experts advise investors to seek companies that pay dividends, which is expected to bode well for REIT investments.
AmeriVest Properties, which posted a 20.8% gain in the first quarter, has been one of the best performing local REITs. During the past year, its stock price has ranged from $5.95 to $3.88. In addition, it pays a 50-cent dividend, provides an 8.7% yield and has a P/E ratio of only 10. AmeriVest owns small and medium-sized offices.
Black Hawk Gaming, which owns casinos in Colorado, did even better. It reports a 32.4% return in the first quarter. It has a P/E of 7.
Chateau Communities, one of the largest manufacturer home REITs in the country, has shown a 0.4% loss in the first quarter. It pays a dividend of $2.18.
Archstone Communities Trust, a large apartment REIT, has lost 4.5% in the first quarter. It pays a $1.64 dividend.
Prologis Trust, an industrial REIT, has posted a loss of 9.8%. It pays a dividend of $1.38.In addition, Invesco Realty Fund, a sector fund offered by the Denver-based Invesco family of mutual funds, has posted a 7.8% loss in the first quarter. Lipper Analytical Services Inc. ranks it No. 4 in its class.
Vail Resorts, which operates the Vail, Beaver Creek, Breckenridge and Keystone ski resorts in Colorado, has racked up a 14.7% loss in the first quarter. It also owns the Grand Teton Lodge Co. in Jackson Hole, WY.
In contrast, telecommunications firms such as Convergent Communications, Bole Tech, and Rhythms Net Communications, have lost 84.2%, 76.5%, and 61.1%, respectively, in the first quarter.
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