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Free Money in REIT Secondaries

By Jim Cramer

 About this article:
 Brandywine Realty Trust may not mean much to you, but it is one of a host of companies in the real estate investment trust business that has had to do a secondary to shore up its balance sheet. Like so many other secondaries in this industry, it was a steal: You bought Brandywine at $6.30 yesterday and it's now $7.43. This is amazing because the Street is giving out free money almost daily in these deals, but no one is paying much attention to them. Most of these companies were pretty much given up for dead because people felt they couldn't refinance -- so what was the point of owning them? Most of them had been forced down by shorts using no upticks or were driven down by ETFs that have huge fire power to knock them down. But now these are all virtuous circles. The...

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