REIT mergers likely to pick up, portfolio manager says

04/14/2009 | Wall Street Journal, The

Merger and acquisition activity in the REIT market is likely to accelerate this year, with the stronger REITs snapping up the weaker ones, says Jay Leupp, the Grubb & Ellis AGA Realty Income Fund's portfolio manager. For a REIT in good financial condition trading at a relatively high earnings multiple, acquiring companies selling at low earnings multiples "is extremely accretive," he said.

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