For IRT offering.
Last time there were probably 5 others.
I guess they were in a hurry to get the $ in place to buy the 5 KY properties. 91% occupancy. Lets see if they can get the rents and the occupancy up.
I don't think that's correct GAAP, but I can not say for certain.
I get your point, but its still useful to know that it is IRT $ since most of the RAS restricted $, in theory, can become unrestricted very quickly. In any case, RAS does appear to be liquid enough to continue on with no restrictions. I bet they raise $25 million of additional capital in Q4.
My point is that money that RAS does not have access to would be restricted on its books. The $8 Million that IRT listed as unrestricted cash would have been listed as restricted cash on RAS books.
It does matter because RAS does not have access to the IRT cash. It turns out, if one looks at the 6/30 IRT BS that it has about $8 million of unrestricted cash and $2 or $3 million of restricted cash. Min this case, not a huge deduction from RAS's books.
The September 2014 presentation (page 26) nets out the $7 million of restricted cash that is owned by Tabernas.
The only thing we can't immediately see is the cash tied to IRT, which is a consolidated entity. I suppose we could go to the IRT 6/30 financials and net out the cash showing on the BS.
When I Got Back In @ Under 7 [Oct ] & Looking Too Dump When It Goes Over 8 What I Make Takes U A Year & 3 months Too Make In Div Using The Same Amount Of Money. [ & That's If The Div Was .20 Cents. It Is Not ] E Gets It, Volatility .
Why shouldn't they buy?. There's plenty of room for RAS to move as high as $10 based on the current dividend. That doesn't mean it will and I'm not making a prediction, but $10 is a 7.2% yield. That's hardly an unreasonable yield for a growing MREIT with a growing dividend.
And why shouldn't I have sold 2% of my holdings for close to a 10% gain? I took a profit and kept 98% of my holdings for the same higher prices he bought for. I have cash that I can use if the stock moves down into the $7 range again.
You live in a weird world where you're a sucker if you sell for anything less than the highest possible price or buy for anything more than the lowest. I live in the real world and keep turning a tidy profit in it.
You've done well!
IRT should give you an opportunity too. Their Q4 numbers will look very good because they finally invested all the money they raised in the summer. Then they raised more, but invested it ASAP on a levered basis that should get them about 10% return on the money. Not sure when we will hear all of this and if IRT will move off of its low price in the meantime.
hey Joe , I swapped the last of my ras Friday morning ,almost even up for DNR...."so far,so good"!!!!....MERRY CHRISTMAS 2 ya! ...nick....
[ Ras is now a strong BUY ] & What Was It Before .I'm Still Going To Dump When It's In The 8s Then Look To Get Back In, In The 7s. That's How I Make Money With This Dog.