Who's hairbrain idea was this? Now we're guaranteed that JRT will go BK. Reverse splits are the WORST thing that can happen to a stock. Witness Sun Microsystems. Reverse split 1:4 from $5 to $20. Now the stock is again $5.
Anyone who proposes a reverse stock split should be spending time in a jail cell with Bernard Madoff.
FUKKING MORONS AT JRT!!! TIME TO SUE THE BASTARDS!!!
Timing is everything with these mreit's.
I like JRT at 43 cents. I bought on 2/13.
After I heard about the taxable stock dividend,
I sold Dec. 19th, before x-dividend, at $1.47.
If another stock dividend is declared, I will probably sell again before x-dividend. Maybe this won't happen till 4th quarter.
<At this point stock price is just a call option, that JRT even survives. Do NOt put serious money into this stinker. Vegas bet only.
WADR, you can say the same thing about any company in the space these days. Pick any one of these companies: RAS, ACAS, FCH, ALD, LSE, NCT, JRT, SFI, MPG, GKK, C, AHR, KCAP, ABR, MF, GGP, BEE, SHO, AFN, etc etc etc. The only difference between these companies and JRT is that JRT is in the pennies, while most of the others are in the $1 range. Even RSO & NRF, among the most conservative and best managed in the group, are gasping for air in the $2 and $3 range.
As far as I'm concerned, all these companies are stinkers and they are all equivalent of betting at Vegas these days.
At this point, I think I would rather hear what Mgmt has to say rather than believe message board chatter from posters sulking about the stock split. Taking into account the regular 30cents 4Q divvy, they earned the equivalent of $1.50 per share in 4Q based on the post R/S float of 5M shares. We will see after they report 4Q numbers whether these guys have a pulse and that the market has this one right.
I have started looking less at what the people on these threads are saying, and more at what the market price is saying.
At a 41 cent low this past week, the market is saying that JRT will not pay 10 cents a quarter going forward. NOT>
IMO At best they could report FFO's of 10 cents next quarter, but probably will wait on paying dividend until end of year. WHY? Because those SOB's can. Preserve cash to pay management at all costs. Fu-k share price.
I hope Roberts comes back heathy and soon. Did he know about 10:1 split??