But probably will increase the dividend later rather than sooner. They just went to the mkt to raise cash by selling common. Would seem like a poor use of cash to raise the divy-but who knows. In any event, feels good.
I agree. There is no chance they will raise the dividend this year. They will probably deploy whatever cash they have to opportunly pick up properties available from distressed sellers.
I would expect we are not going to see a dividend increase for at least 12 and probably 18 months. This will give them a chance to increase ffo and ffo/share and get sufficient visability of earnings and the credit market going into 2012 when more debt will mature.
That will keep a near term cap on the pps but should give us a much more solid long term performance. Since I've been in for well over a decade, I'm more interested in longer term pps than where we are at the end of 2010.