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Resource Capital Corp. Message Board

  • ruby.thedyke ruby.thedyke Dec 13, 2010 11:02 AM Flag

    Getting scary, took 10% off the table

    Seven and two bits, whew. It's not expensive, obviously, for those who know the company, but I keep thinking about that half aborted offering they tried to do this summer, and I'm afraid they'll try and finish it up. This is about where the last ax fell.

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    • Ruby - You have the best idea by keeping your powder dry. I took 100% of my holdings purchased last December, sold @ $7.25. It's been a great run from December last year and I will stay here just to keep an eye on RSO. March 2011 will be my come back target date, unless they make another offering.

      GLTA and Have a Happy Holiday!!!

    • So, what are you buying with the 10% you took off the table? I'm trying to decide between RSO, AGNC, NLY, and CYS. Which is more appealing for the long term?

      -bill

      • 1 Reply to branski2
      • Well, those companies don't really compete as long-term investments, the agency REIT's are an escalator with a chipper at the top, you want to step off before the government guarantee of agency debt looks like it might end, the principal value of those companies would plunge.

        In any case, I'm doing nothing, I wanted to raise some cash and put it on the shelf. Yield compression in the MLP's, and here to some extent, made raising cash palatable as it didn't hurt my income much. I was fully invested since the summer dip, I feel better with some dry powder.

    • I almost sold a significant portion at around 7 and I'm glad I didn't. However, your concern is valid and I think it would be prudent to put in a stop loss at this point as some bad news and down we go. I find it hard to imagine that we go much higher at this point any time soon. GLL
      Ken

    • Sometime over the next couple of quarters RSO will most likely offer another secondary. AGNC and CYS did just that last week. Reits are not likely to borrow to raise cash because that creates debt. So they sell stock but, the question is really rather are the proceeds accretive or, are they dilutive. To this point they have accretive. They add value and produce income which exceeds the extra shares they sell. It's not a 'Code Blue' situation. Unless you don't understand what is going on. RSO is savvy, street smart, and they know how to make money. GLTA.

    • I am wondering if they are effectively doing the secondary via ongoing private sales. Surely, they have learned their lesson. To do a secondary now would blunt the upward momentum on the stock from the upside market bias. Surely, they have learned this... But???

      The stock price is increasing but with difficulty. I wonder if these past private buyers are dumping stock for a relatively quick buck and increasing supply daily.

      • 1 Reply to jdb_1234
      • This has been an interesting ride for me as well. I'm almost thru 11 quarters. I was hoping we would have been back to $9.00 6 months ago but obviously was dreaming. that last offering did take the wind out of the sail for sure.

        I was thinking that with the last guidence given stating .25 for all of next year, it would be the right incentive for the move up and it has been climbing. Since I'm now ahead with the dividends I have recieved I'll wait to see where she goes. If we lose our .25 I'm go to move on.

 
RSO
5.03+0.17(+3.50%)Feb 27 4:03 PMEST

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