JER is a mortgage company NOT a REIT like GRT. They deal in mortgage spreads and could have income when there is no cash flow. It is not possible for GRT to find itself in a position where there cash flows are not adequate to pay a required dividend and you are an idiot. Quit it already.
Think. In real estate deals the cash flow can be there and the profits are not because of depreciation. Do you get this? A REIT is required to pay out 90 % of profit after depreciation. The flows a REIT usually has (in good times) is essentially profits plus depreciation which equals those flows. When a REIT distributes cash greater than taxable profits, a portion is a return of capital and not taxable to the recipient.
Now, I know you know this because you are here for the purpose of spreading disinformation. GRT will not be required to pay stock dividends and even if they did they would not be taxable, would not dilute the shareholders and not serve any purpose whatsoever.