was certainly not in the $1.75-$2.40 range that Cohen alluded to back in November. However the yield counting the special today and added to the monthly, yields 19.16% annualized. If RNP opens tomorrow at $18.49 the yield will be 20.55%. I think the kid will add another k to the pile tomorrow! With the economy eventually(year perhaps) turning around RNP may well be in the $30.00 range again.
Everyone loves the big dividends but what good are they if your stock goes down 30% or more? Interest rates are not too bad now and the trend is to lower them. During interest rate hikes, both REITS and preferred stock take a beating. I don't want to be around when the interest rates start climbing. If the price of this closed-end fund real estate stock keeps going down in this interest rate enviornment, it will get real ugly when rates go up. Be careful of high dividends, they may come at a cost.