10/24/08 10:30 I listened this morning and being the amateur that I am I didn't comprehend the content of their message. Like everyone in their business they have to be careful what they say. I closed my eyes a couple of times and I could have sworn I was listening to an old Bob Newhard show. I believe it was the last question which asked about "future dividends". As I had said a couple of weeks ago before the melt down of the last 10 to 14 days; I expect a reduction in dividends. Now, with the melt down I would be happy if it doesn't go below .30 per quarter. A thought that keeps going through my mind is how small does JRS have to be for it to close? We're prepared to hold on for the long term but it would be devastated with loss of principal. jgdavis
I didn't listen to the conference call but have lost a bunch in this stock and keep on doubling down. I now have 24000 shares--6k more bought this week in the 5's.
But the money market only yields 1% at scottrade, and JRS yields 28% with a 12% discount to NAV. Long-term yield of stock portfolios is targeted at 8-10%??? Hard to understand. Something's wrong with that. Also the trading is erratic due to low volume and scarce information. The stock dropped today but the NAV will go up 4+% in the morning.
I keep a yahoo portfolio of the JRS common holdings (not the pfd)--here they are---> HOT DCT BXP BDN CLI SLG AIV AVB EQR PPS FRT MAC SPG WRI WEFIF.PK AHD CSA DRH EXR HCP SNH VTR
Of course they will have to drop the divs some , but these underlying REITs are generally good quality companies with hard assets---no pure mortgage plays. They've just all gotten killed in this mkt.
At some point--soon I think-- people will realize how ridiculously undervalued REITs and thus JRS are, and bid them up again.
It would help everyone if they were to go back to monthly dividends. These quarterly big lumps throw the stock price out of whack.