Well they finally did what they should have done some time ago and issued low cost debt (albeit to repay some of the line of credit) instead of dilutive common shares. Would like to see them pre-fund any future capital needs with a similar issuance now while rates remain at historic lows.
If lxp issued debt before lowering their loan to value ratio by issuing common stock-what would the interest rate have been??????? Seems unrealistic to complain when the 52 week low was $7.82 and the 52 week high was $13.82. They cant just float low cost notes if it significantly increases the loan to value ratio. At some ltv ratio the notes wouldnt be marketable. As long as the common stock is used to make accretive purchases-I, for one, couldnt be happier. Too bad they didnt float $250m of common at $13.50 (4.4%) they could have always come back and did the notes. I, for one, think this is a pretty good management team.