REIT capital raising paid off for prior shareholders
When the publicly traded REITs went to the capital markets this year and raised $15 billion in new money, there were two ways of looking at the strategy. It could be viewed as a wise bet on a REIT rebound -- or evidence REIT executives didn't care about diluting the value of their existing shares. With the passage of time, industry experts are warming to the view the frenzy of capital raising was a good move that benefited everybody, including prior investors. Forbes (11/04)