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Gramercy Capital Corp. Message Board

  • panalta2000 panalta2000 Nov 25, 2008 9:52 PM Flag

    OT. ABR a quick double. 40% dividend yield

     

    ABR is ROCK SOLID. Prime MANHATTAN REAL ESTATE.
    -ABR was $5 a few weeks ago and now $2.65 + $.71

    -Tiny 18 MM float. 6 Million shares short.

    - Director bought last week at $3.60.

    -Has 96% of all loans conforming and being ultra conservative on the 2 new loans reserved for as close to being back to conforming.

    -The bulk of properties were bought in 2003 & 2004 and Manhattan real estate is still more then double 03 & 04 prices ...

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    • GKK financials looking much stronger here, GKK FFO is also much stronger... Why would anyone choose ABR and pay twice as much for it?

    • interesting play - i like the director buy but ill stick my reit investments to GKK/GKKPA and the NCT-PRDs

      after watching GKK fall from 20+ to 6, then further retreating under a dollar it tought me 2 thins... 1 i was lucky to sell at 19 and buy under a dollar and 2 - just when you think a financial stock is a buy. in this market it could easily get cut in half before you see a rebound. Ussually for no good reason...