Traffic Court cites a NAREIT story saying that up to fifty REITs now buying back shares now or planning to do so. Gee, you think they think their share prices are undervalued? Of course that does not mean this is always right. Some analysts think the management should just concentrate on running the company, and sometimes you can also argue that the decreased liquidity can be bad for some shareholders. But I do like the fact that these companies are at least thinking they are a good deal right now, as if the market overreacted.