I was disappointed by the annual meeting. There was a sense that the company had good news to give us but was afraid to say anything.
Five or so years ago Mr. Schulte said the dividend was safe only to be blind sided by Mr. Humphrey a month later that the management company was hemoraging cash and the management contract would have to be renogotiated and dividends cut. Now when he could say we are having a good year. Things look strong. I'm hoping that we can raise the dividend. Instead he says the equivalent of "you never know." The FFO (funds from operations) are up for the first quarter. Costs are under better control. A big chunk of the floating rate debt is now fixed. You're going to float the prefered issue so the capital structure will be sound. I bet the company announces an increased dividend within a week or two. Say something positive like "this is the same company that was trading for over $8 per share and even in this troubled market I think it should trad for at least $6.50."