At this yield and this multiple to NAV, who is suspecting a secondary is waiting in the wings?
Yup...right after the dividend is paid, like clockwork, every quarter.
Not True. -- EVERY quarter? In 2009, the had a secondary in Sept after ex div but before it was paid. This year, they did a secondary in August, before the div. was even announced.They will do another when they are ready to deploy the cash.