Nope. Not playing so far today.
As to Aug calls.....remember, it goes ex div 50 cents before expiration and I think we will also get a follow-on before ex div.
Yeah, that's not a bad idea since there's a well definited catalyst, but I haven't had much luck with options buying calls, I much prefer selling covered calls and cash secured puts and having time (decay) on my side.
BTW, sold 100 shares of NSAM at 18.75 to buy 100 shares (I know, big spender!) of NRF at 16.65. Wonder if dar200 or anyone else picked up some flippers from my clumsy limit orders?
I think I might sell NSAM and move everything to NRF after the nonsensical 1% selloff today. I think NRF could pop when they declare the 50 cent divvy and everyone temporarily thinks it's yielding 12%. Even if they calculate it correctly as closer to 9%, that's still way to high and the price should reset higher.
Only downside is that NSAM could take off before then if they announce any more deals, but hopefully I'll get a chance to buy back in if the market also overreacts to the fact that they probably won't declare a stand alone dividend for another quarter.
"Northstar Realty Finance Corp. logo JMP Securities reissued their market outperform rating on shares of Northstar Realty Finance Corp. (NYSE:NRF) in a research report sent to investors on Friday morning. The firm currently has a $21.00 price target on the stock, up from their previous price target of $15.00"
As you said Octopusink. I suspect, however, we'll have to be satisfied with our dividends for a while as the share price seems to be caught up in the general market malaise. GLL
Clip from article:
"The amount includes a $58 million senior construction loan from Chicago-based BMO Harris Bank. NorthStar Realty Finance of New York provided $17.8 million in mezzanine financing.
Other equity partners in addition to Giarratana’s SoBro Development Co. (an affiliate formed in 2008 when Giarratana bought the land) include Wanxiang America Real Estate Group and Magellan Development. The trio comprises WMG Realty Holding Co. LLC and has about $12 million in equity in the project, which will carry a $90.8 million price tag. The partnership is getting from Metro about $3 million in tax increment financing related to parking for the addition of 150 public parking spaces."
Pretty thin deal with only 12 million equity on 90.8 million project. I'm sure NRF is getting a pound of flesh for taking this risk, albeit a small one.
Not sure which loan you are referring to. Income 2 recently made a 17.5 million loan to an apartment developer in Atlanta.
This too small for NRF to issue 8-K or press release.
nrf keeps active, though small. 17.8m mezz financing to luxury apt tower SoBro.
i hate these yahoo boards, keep deleting any attempts to cut/paste or link to the article. its on the nashvillepost on 7/22.
If we assume the following :
1) That the total distribution amount in $$ for the second quarter will be the same as the first.
2) The total distribution goes to NRF shares (none to NSAM).
3) There are 1/2 the number of NRF shares available for the distribution.
Since the first quarter dividend was 25 cents, then the second quarter dividend has to be 50 cents.
You are way off base. The combined companies are estimated by NRF to have annualized cash available for distribution (CAD) of $1.30 so there is no way they will pay a combined 50 cent quarterly distribution. My 4th grade math tells me 50 cents quarterly annualized is $ 2. Hard to figure how you pay $2 out of $1.30. Your analysis assumes that by simply splitting the company in two, the dividend would double from a $1 to $2. Good luck with that logic.
Well, the 6/30 pre-split/spin of 25.2 million became 12.6 million short of each. The July 15 settlement date has a 7/10 trade date cutoff.
So, between 7/1 and 7/10, nsam had a net cover of 7.1 million, huge indeed, and likely a substantial support to the price. The next report may show if the current weakness in nsam is due to a net short instead of a net cover.
As to nrf, 12.6 to 14.4 is a 1.8 million increase, a 14.3% increase. NRF must have a sweet smell.....like the Venus fly trap has. Suck 'em in and eat 'em up.
Collected thru 7/23.....158.2 million vs 154.3 thru 7/21.....3.9 million in 2 days, an average of 1.950 per day.
Wish they could do this pace for the rest of the year.
Supplement was filed to report a subordinate loan to an apartment developer......14% interest with 13% paid currently. Hey, Tony, nice loan.
Perhaps it is arbitrage of some kind. Can't imagine why anybody would do a strategic short of a stock about which so little is known at this point.
"Oh ya and all of your posts are so deep with thought. Get over yourself buddy. You know one stock. I trade 10-15."
Oh? And are any of them profitable, Mr Wall Street? Considering your attitude, I'd guess not.