i am in at 8.69. they appear to be well managed. they get pulled down with financials all the time. but they dont operate like an LEH. they pay predictable divs. monthly. whatever, its still a little vegas style investing, unless you are in the inside.
Troublesome. I own a couple REITs. And they all went down today, but nothing like IGR. I'm afraid their's a skeleton in this one's closet that some big $$$ guys know about. True short term money may be hard to get, but all that means is we stand still for a quarter or two. This selloff today in IGR suggests they have something bad going on. I don't like this. If their dividend is safe, even if it includes some return of capital (which may be the problem) anyone buying this REIT is getting a whopping big dividend. Even if they cut the payout in 1/2, for a new buyer at this price, they still get a tremendous return. ????? Just doesn't seem right to me.
Looks to be still selling at a discount to NAV. Possible that fear of problems at ING could be triggering panic selling. I don't see any real problem except that IGR is in the "financial" arena and that access to short-term borrowing may be severely restricted. It is amazing how stuff can sell off. I will be buying more in a few weeks.