Another positive in this report is the nice move in book value(minus Taberna) moved from $6.28 to $6.59 per share or .31--great quarterly move of almost 5%.
This is a particularly nice move given the quarterly dilution. The number of shares increased by about 15% at the beginning of 2Q.
And it should be a harbinger of better moves down the line. The bridge loan securitizations and IRT should substantially decrease the need for future secondaries.
It is so funny that the negative crowd is ignoring this.