Its over now. Go to their website and listen to the replay. They did say that they dividend to FAD for 03 between 92 and 95% so a bit more of a buffer. I think you have to assume it will get closer to 100%.
Maybe ARI is up because Deutsche Bank thru Rreef disclosed taking a huge position in ARI last qtr (8.32%). Rreef is some pretty smart folks over there as I had many dealings with them over the years in NorCal. They usually have a pretty good beat on the CA markets so this may be seen as a huge positive for ARI that such a huge position was taken. Although playing devil's advocate they could have simply taken over someone else's large position at a discounted price and is willing to wait it out. That Netherlands investmt company has been shedding US reit shares of late. We won't know the institutional movement for awhile yet.
ARI was one of the few where my sell was at a great price and my buyback in was at an even better price.