Had to work for a short time today and missed the low. Bought more at 10.80. Finally got to the share amt. I wanted for long term hold (talking years hopefully), I am a firm believer CNBC is manipulating the Mkt. every chance they get. Average cost is now $11.16 per share. I hope I do not have to think about cost averaging down with this stock anymore. I am a new buyer and have yet to receive my 1st dividend, but the $153.00 a month will be nice. I feel comfortable that this stock will be a very good value when the R.E. mkt gets stronger. In the meantime I will recieve my 16.5% dividend. If in the years to come, the co. increases the div. as its done in the past I will regret not having more at this time. In 2004 the div. was .10 a share,now at .153. Have a good day.
Agreed, going lower today and today is the last day to buy before the next div payout, if you want to get it. I've invested quite a bit in sister ship NRI and am probably going to pull the trigger on NRO today - hoping it will get down around 10.30. I dont understand why more people, including the media, don't talk about investing in CEFs. In the last month I've heard reits mentioned once on the CNBC channel (last nite actually, taubman, simon props) but NRI, NRO and PIMCO are the best yielders of all, specially as the market price goes down.
Does NRO have any subprime exposure that you know of?