Yes, I'm sure you are correct. Preferreds should have priority IMO. Under
more normal cir***stances, say in 06, the common stock has a yield of 8%.
Thus, should folks not have a fear of the dividend being lowered, the
share
price would be around $15.50. This is why I think it has room for a lot
of
cap. appreciation.
Jerry
"Dr Tormento" <reply@[EMAIL PROTECTED]
> wrote in message
news:Xns9AA0EDFB11E3Arforschrcncom@[EMAIL PROTECTED]
> "Jerry" <nospam@[EMAIL PROTECTED]
> wrote in
> news:482e1fb7$0$3379$4c368faf@[EMAIL PROTECTED]
>
>> That page was no longer available, so I can't comment. I think it may
>> be a mistake. They did sell 93M last month in a private placement.
>>
>> http://tinyurl.com/5brp3y
>
> That would be the Series D preferred. They have Series C and D trading
on
> the NYSE.
> The reason I looked up the preferreds was that I was wondering how the
> preferred payouts would compare to the 14% on the common. In fact they
are
> both lower than the common. I guess that means the market has more faith
> in
> the preferred payouts continuing.
>
>
>
>>
>> Jerry
>> "Dr Tormento" <reply@[EMAIL PROTECTED]
> wrote in message
>> news:Xns9AA08F07EBF3Arforschrcncom@[EMAIL PROTECTED]
>>> "Jerry" <nospam@[EMAIL PROTECTED]
> wrote in
>>> news:482d7985$0$30495$4c368faf@[EMAIL PROTECTED]
>>>
>>>> This is a specialty REIT that I have mentioned previously. I've
>>>> owned it for a couple of months and have a cap gain of 31%.
>>>> Counting the dividend the total return is 35%. It still has a yield
>>>> of 14%. Thus, there is still plenty of room for additional cap
>>>> gain. However, I'm happy enough with just the dividend.
>>>>
>>>> http://tinyurl.com/6aqny6
>>>>
>>>
>>> Last month they issued a new class of preferred stock raising the
>>> staggering sum of $70,069. I don't suppose that will be listed on the
>>> big board.
>>>
>>> http://news.moneycentral.msn.com/provider/providerarticle.aspx?
>>> feed=BW&date=20080515&id=8648641
>>
>>
>
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