For anyone still awake who has GTY shares, congratulate yourself for remaining patient while other investors/speculators are throwing their money at stocks that are skyrocketing/plummeting/gyrating. Our GTY keeps on plugging along, nothing exciting, no great new business coming along, just a steady steam of predictable dividends with small steady price appreciation. And one more thing - another new high was reached today. For the record, the price hit the magic "25." Congratulations.
When posting a new message, it is helpful to readers for the poster to enter a new "subject message" relevant to your information. By clicking on "reply" to the most recently posted message, you will bring up the previous "message title". You need to click on "post" rather than "reply" to create a new message field for your message. This will allow readers to key in more accurately on the subject of your message, i.e. dilution of common stock price with the conversion of A preferred shares into common (as was posted misleadingly in the "public service announcement thread regarding the new high for the stock price). RE: the new posted message on dilution ... I think GTY is doing the conversion because it believes its stock price will be higher in the future and is in its (and shareholders) interest to have those shares converted. It would seem to result in dilution (and the inference of a lowered stock price), but keep in mind, GTY's mission is to protect shareholder's interest, so these actions are taken to stabilize and grow the stock price, not deteriorate it. By having the preferred shares converted, GTY in no longer "paying out" to preferred shareholders. The conversion recommendation is related to GTY's belief that its stock price WILL be higher, so it is in the preferred shareholder's interest to convert their shares at the current price with the inference that they are "buying" in "low" now and see their stock price appreciate. See AXM's history for what not to do in shareholder's best interest (except for its choice of its buyout company, too late for most of us).