Investors tend to treat shares poorly when earnings growth slows, even from unsustainably high levels. But value ultimately wins when time periods lengthen, and I strongly suspect that, by year’s end, apartment REIT stocks will have a performance record for 2013 that won’t require their executives to wear bags over their heads.Thanks for the great point, Ralph. It looks like this is a case of the market inflicting a punishment that it will one day reverse. I'm a believer in giving a time out to a management that does something that isn't good for the company (like if Riley ate a Chocolate cupcake, as opposed to an oat bran one). But when the sector has been down so long that the metrics have gotten this bad, it looks like the time out should be about over. In a market like we're having, with buyers piling in just about everywhere, this could be just what I need.jz
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