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Crown American Realty (CWN) Message Board

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  • Nasdaqi Nasdaqi Aug 1, 1998 10:12 PM Flag

    Conference

    That 100k shares look like a buy, but then
    thers's also
    a seller out there. My guess is fund
    managers shifting
    portfolio. Dividend looks safe,
    unless we have a real
    recession that knocks retailers
    off their feet.
    CWN used to pay like 30 cents 4
    years ago, then it announced
    the reduction and price
    dropped from 13 to 7. The problem
    was they had older
    malls needing refurbishing and occupancy
    was less
    than 70%. Its much better now.

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    • That means you must buy the stock before Tuesday's close.
      Why is it every time cwn drops just before div registration?
      Manipulation?

      • 3 Replies to Nasdaqi
      • I always get confused with settlement dates and
        ex-dividend dates; please correct me if I'm
        wrong:

        Since the stock goes ex-dividend on Wednesday 8/26,
        that means "shareholders of record" on Tuesday's close
        get the dividend.

        In order to be a
        "shareholder of record" you'd have to buy the stock three
        business days before it goes "ex" because it takes that
        long to "settle" the trade.

        Therefore, I
        would've had to complete the trade last Friday, 8/21, in
        order to settle on tuesday and be a shareholder of
        record.

        Isn't this right?

      • The rumor around J-town is CWN will go private sometime in the near future. Rumor has it that CWN is 70% privately owned.

      • Nasdaqi had it right,
        UnderConsideration.

        I checked with Schwab and they confirmed that if
        you purchased shares the day before the stock goes
        ex-dividend, you will be entitled to the dividend. So buy like
        crazy today, Tuesday, and you'll get a taxable dividend
        real soon. I know some people try to use this
        strategy, "buying the dividend", by buying shares before a
        sizable dividend and selling soon after when, perhaps,
        the share price seeks it's previous level.
        Personally, I think the math on such a round trip doesn't
        make it worth the trouble. Another strategy, for
        longer term players, is to purchase on the ex-dividend
        date when, at least at the open, the stock price is
        reduced by the amount of the dividend. This gets you in
        at a slightly lower price (theoretically), you keep
        the dividend in your pocket because you never paid
        for it (or you buy more shares with the same money),
        and you benefit from any from any price recovery
        anyway.



        Here's Schwab's answer:
        "The
        Ex-dividend date is the date on which the share price is
        reduced by the amount of the scheduled dividend. The
        Record date is the date on which you must be a
        shareholder of record to receive a pending dividend. To be
        entitled to the dividend,

        **you must have
        purchased your shares prior to the Ex-dividend date in
        order to be shareholder of record on the Record
        date.**

        In most cases, the Record date is 2 business days
        after the Ex-dividend date."

        Hope this helps.

    • Thanks for the info. I also noticed during the
      last couple of months CWN seems to rise during drops
      of the S&P (Friday excluded). I'm a little bearish
      toward the rest of the market and my theory is that CWN
      could be good place to transfer some of my portfolio. I
      would like to get my basis below 10, yet I want to see
      if we can stay above 9. Without the payment of
      preferred dividends the latest income statement looks
      promising. We will see. The ex is still 3.5 weeks away which
      will hopefully help me recover some losses in other
      holdings. See Ya! GWF

 

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