I have to agree. Nice call so far by ferdiefor. I'm sorry to see it coming true, and even more sorry I didn't sell earlier.
I sold all my shares today. Been in the stock since 10/98. Sigh.
Assuming the stock continues to drop, I too will wait for a lower entry point. Perhaps business will stay punk enough that the div. will be cut and the stock then drop.
(aside: The assets are still there and still desirable over the longer term, imo. So it's possible we're seeing the bottom now. If Iraq war ends quickly, all stocks could recover. I've just had enough for now with ARI. Jmo, and I've been wrong many times.)
I've sold and you have sold. But I encourage you to keep any/all historic file info you have built up on ARI. Keep getting the earnings reports/listen to the cc's. I know I will be looking/listening to details of rollovers in q4 and the expectations for 03 in terms of rollovers and NOI declines.