I own the preferreds. Obviously at much higher prices, so I find the price decline quite disconcerting. Hard to pull the trigger and buy more at what can only be considered distress sale prices--even with the implied great returns and possible cap gains.
Sure would be nice to hear some good news. But, alas, it'll probably be some time before that happens. We're all caught in the subprime trap, and the economy in general which can't be great for the commercial REITs. What to do?
I feel the same way. Bought 1k shares at much higher price, but decided today to buy a couple hundred in the 11's. Sometimes you have to just go for it. Lowered my overall price by $2. Think about picking up even just 100 shares. It will lower your average quite a bit. Last september I bought 100 at 13 and sold a few weeks later at 18. There may be a good chance for that to happen again, a pop to 16 is very possible on some good news, and any news other than a catastrophe will be good. I truely believe this company will survive, but the common divy has to be suspect, no matter what the ceo says.