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No. of Recommendations: 2

I think when you buy a stock you are, as much as anything else, buying the performance of the people who make the company run. In the case of ROIC you make a good case that IF you believe new Management can do the same thing it did last time then it is time to buy. I don't see why they couldn't perform the same as previously. In fact, I see the latest shopping center purchase follows the formula for success quite closely. So they are already performing per successful formula.

It is still a risky bet because commercial real estate may stay sour, the economic recovery may move too slowly, if at all, etc. So I wouldn't bet the house. Also, it bothers me they paid a dividend when they had negative earnings recently. But when you weigh the negative against the positive, plus the potential, the time to buy is now.

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